The Arab Authority for Agricultural Investment and Development (AAAID) has signed a memorandum of understanding with Bahrain Food Holding Company (Gidaa), a subsidiary of Bahrain’s sovereign wealth fund. This agreement aims to establish a general framework for strategic cooperation between the two parties in areas of mutual interest, focusing on supporting food security and sustainable agricultural development in the Arab region.
The signing took place at the headquarters of AAAID, with Dr. Obeid Saif Hamad Al-Zaabi, the Chairman of AAAID, signing on behalf of the authority, while Gidaa was represented by Mohammad Al-Saai, the Chairman of its board.
The memorandum seeks to enhance collaboration in food security, which includes supporting food production, developing strategic reserves of essential food commodities, achieving distribution efficiency, and ensuring sustainable and equitable access to food, aligning with national and regional priorities in this sector.
Additionally, the agreement facilitates mutual visits between the teams, promotes best practices in agriculture and food security, explores opportunities for the development, expansion, and marketing of innovative products and services through both organizations, and identifies strategic investment opportunities for entry into regional and international markets. It also includes the exchange of market information, research data, and strategic analyses that support planning and decision-making processes.