The deal will see the Bahrain International Circuit (BIC) and Abu Dhabi Motorsports Management (ADMM) work on how to attract more spectators and sponsors.
"With Bahrain at the beginning of the year and Abu Dhabi staging the season finale, there are many projects on which we can work to attract more spectators, corporate clients and sponsors to the region's two races," said Bahrain circuit chairman Zayed Alzayani.
Abu Dhabi will join the Formula One calendar in 2009, when it will be the last race of the season.
Bahrain has been part of the schedule since 2004.
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