Egypt, Jordan and the United Arab Emirates sign a document for an integrated industrial partnership

0

Egypt, the United Arab Emirates and Jordan on Sunday signed a document to launch the “Integrative Industrial Partnership for Sustainable Economic Development” initiative.

The signing ceremony was attended by Egyptian Prime Minister Mostafa Madbouly, Jordanian Prime Minister Bisher Al-Khasawneh and UAE Deputy Prime Minister and Presidential Affairs Minister Sheikh Mansour bin Zayed Al Nahyan.

The document was signed by Egyptian Trade and Industry Minister Nevein Gamea, UAE Minister of Industry and Advanced Technology Sultan Al-Jaber and Jordanian Minister of Industry, Trade and Supply Youssef Mahmoud Al-Shamali.

The signing of the document came at the end of the tripartite meeting, held on Sunday morning between Egypt, the United Arab Emirates and Jordan at the ADNOC business center in the capital of the United Arab Emirates, Abu Dhabi .

A statement released at the meeting said the initiative aims to establish integrated industries that help diversify the economy, promote its growth and provide skilled job opportunities.

The statement added that the signing of the initiative stems from the guidance of political leaders in Egypt, the United Arab Emirates and Jordan.

This is in line with their firm belief in developing the industrial sector in each country and improving the utilization of advantages, resources, capabilities, raw materials, capabilities and expertise, geographical locations, logistics capabilities, huge transport infrastructures and smart financing solutions.

This partnership is based on a set of strategic objectives: the first is to develop industries capable of being competitive on a global scale.

The second objective of the partnership is to achieve secure and flexible supply chains, through working together to seek ways in which this partnership can utilize the opportunities presented by the availability of complementary chains in the three countries.

This will lead to improved economic security and provide protection against price fluctuations.

The third objective of the partnership is the pursuit of sustainable growth, using renewable and low-carbon energy sources.

While the fourth objective of the partnership is based on promoting the growth and integration of value chains and trade between the three countries, through joint action to develop value chains within and across the economies of the three countries, in a way that ensures flexibility, autonomy – self-sufficiency, integration and the development of intra- and external trade.

The latest objectives of the partnership included the promotion of value-added manufacturing sectors, focusing efforts on manufacturing sectors in value chains that realize and add significant economic value.

The initiative has identified vital areas of common interest, on which the first phase will focus to deepen the comprehensive industrial partnership between the three countries, foremost among which are the fields of agriculture, food, fertilizers , medicines, textiles, minerals and petrochemicals.

Share.

Comments are closed.