- During a meeting between Crown Prince Salman bin Hamad Al Khalifa, Deputy Supreme Commander of the Armed Forces and Prime Minister of Bahrain, and UK's Prime Minister Rishi Sunak, a memorandum of understanding was signed between Bahrain and the United Kingdom. This strategic agreement involves investments of GBP 1 billion ($1.3 billion) from Bahrain to be directed towards various projects in Britain.
- The UK-Bahrain Strategic Investment Partnership marks a new chapter in the historic relationship between the two countries. It will enable Bahraini investors to explore opportunities in the UK's technology, services, and manufacturing sectors. Investments are expected from Bahrain's sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management.
Why it matters
The bilateral meet highlighted the deep-rooted relationship between the two kingdoms, based on over 200 years of history. Both leaders committed to strengthening collaboration. The UK-Bahrain deal follows UK trade secretary Kemi Badenoch's visit to the GCC in May. The UK has been negotiating a free trade deal with the bloc since 2022, with three rounds of talks completed. The GCC is the UK's seventh-largest export market, expected to grow over 75% to nearly £1T by 2035.