(Reuters) -Bahraini and U.S. companies signed a series of agreements worth approximately $17 billion, aimed at strengthening economic ties and advancing cooperation across key sectors, Bahrain’s state news agency BNA reported on Wednesday. The deals span sectors such as aviation, technology, industry, and investment. Among the agreements, Cisco Systems will provide digital solutions for Bahrain’s […]
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Bahrain, US firms sign $17 billion in deals to deepen economic ties, news agency BNA says
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(Reuters) -Bahraini and U.S. companies signed a series of agreements worth approximately $17 billion, aimed at strengthening economic ties and advancing cooperation across key sectors, Bahrain’s state news agency BNA reported on Wednesday.
The deals span sectors such as aviation, technology, industry, and investment.
Among the agreements, Cisco Systems will provide digital solutions for Bahrain’s government information and telecommunications infrastructure.
Separately, plans were announced to establish an 800-kilometre (497-mile) multi-fiber submarine cable linking Bahrain, Saudi Arabia, Kuwait, and Iraq to global networks, according to BNA.
Bahraini financial institutions and private-sector firms also announced plans to invest $10.7 billion in the United States, while sovereign wealth fund Mumtalakat signed deals with several U.S. companies to invest $2 billion in downstream aluminium projects, with a focus on job creation.
The signing ceremony took place during Bahraini Prime Minister and Crown Prince Salman bin Hamad Al Khalifa’s visit to Washington late on Tuesday.
He emphasized that expanding cooperation with the United States could help create new economic opportunities through investment and collaboration.
In 2023, Bahrain and the U.S. signed a security and economic agreement, and Bahrain continues to host the U.S. Navy’s Fifth Fleet and the headquarters of the U.S. Naval Forces Central Command.
(Reporting by Enas Alashray; Editing by Christopher Cushing and Sherry Jacob-Phillips)