Bahrain and the Philippines signed a new agreement yesterday (August 20) to boost bilateral trade, a report said.

The key document aims to establish a mechanism to allow the foreign affairs ministries of both countries to monitor relations, reported the Gulf Daily News, our sister publication.

It comes as Philippines Department of Foreign Affairs secretary Albert Del Rosario met Foreign Affairs Minister Shaikh Khalid bin Ahmed Al Khalifa at the ministry's headquarters in Manama.

"Bahrain is one of Philippines' closest friends and ally in the Middle East," said Del Rosario.

"Bahrain is one of our strongest trading partners in the GCC and has consistently shown support to our country at different levels."

He was speaking during a joint Press conference, where he stressed the importance of Bahrain's security and development.

"This (agreement) will help monitor the status of implementations of the signed agreements and address common areas of concern," he said. "We will work together on steering achievements of both the countries along with peace and development."

Meanwhile, Shaikh Khalid praised contributions made by the 60,000-strong Filipino community in Bahrain.

"A joint committee meeting between the two countries will be held in February 2014 in Manila to discuss co-operation agreements," he added.

Both officials also expressed concern about the political and security situation in Egypt.

Shaikh Khalid said they are closely monitoring the developments in Cairo. "Bahrain would spare no effort in supporting the stability in Egypt," he said.

Del Rosario also met HRH Prime Minister Prince Khalifa bin Salman Al Khalifa and conveyed greetings of Philippines President Benigno Aquino III. – TradeArabia News Service