Bahrain and US Sign $17 Billion Agreements to Boost Economic Ties

WASHINGTON, D.C. — Bahraini and U.S. companies have signed several agreements totaling approximately $17 billion to strengthen economic ties and enhance cooperation across key sectors, Bahrain‘s state news agency BNA reported on Wednesday.

The agreements cover various sectors, including aviation, technology, industry, and investment. Notably, Cisco Systems will provide digital solutions for Bahrain’s government telecommunications infrastructure.

In addition, plans were announced for an 800-kilometer (497-mile) multi-fiber submarine cable to connect Bahrain, Saudi Arabia, Kuwait, and Iraq to global networks, according to BNA.

Bahraini financial institutions and private-sector firms are also set to invest $10.7 billion in the United States. Furthermore, Mumtalakat, Bahrain’s sovereign wealth fund, signed deals worth $2 billion with several U.S. companies to invest in downstream aluminum projects with an emphasis on job creation.

The signing ceremony took place during the visit of Bahraini Prime Minister and Crown Prince Salman bin Hamad Al Khalifa to Washington late Tuesday. He highlighted that enhancing cooperation with the U.S. could create new economic opportunities through investment and collaboration.

This year, Bahrain and the U.S. signed a significant security and economic agreement, reaffirming Bahrain’s role as a host for the U.S. Navy’s Fifth Fleet and the headquarters of the U.S. Naval Forces Central Command.