Ministers from the United Arab Emirates, Egypt and Jordan meet to establish a roadmap for an integrated industrial partnership
Abu Dhabi-UAE: – Ministers from the United Arab Emirates, Egypt and Jordan met for the first time since signing an integrated industrial partnership for sustainable economic growth last week to discuss a roadmap for the implementation of the initiatives linked to the new partnership.
The Trilateral Higher Committee Meeting brought together His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates (MoIAT), His Excellency Nevine Gamea, Egyptian Minister of Trade and Industry, and His Excellency Yousef Alshamali, Jordanian Minister of Industry, Trade and Supply.
Ministers discussed timelines for implementing the initiatives and how their performance can be measured. They also discussed during the meeting the creation of a governance mechanism for the partnership and the tasks of the senior committee and the executive committee to ensure the achievement of the objectives of the partnership.
During the meeting, the ministers discussed mechanisms for expanding the partnership by adding new members, accelerating economically feasible opportunities under the umbrella of the industrial sector in the three countries, facilitating cooperation and integration in involving more sectors and coordinating with government entities and the private sector.. The meeting focused on the importance of private sector participation and its important role in building the industry partnership, which focuses on five sectors including agriculture, food, fertilizers, pharmaceuticals, textiles, minerals and petrochemicals.
During the meeting, the members approved the appointment of His Excellency Omar Al-Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technologies, as Secretary General of the Higher Tripartite Committee.. The Steering and Executive Committee will continue its work and will meet next month to monitor the progress of the partnership.
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technologies, said: “In line with the vision of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, the Ministry of Industry and Advanced Technologies seeks to strengthen industrial integration. with Arab countries and the rest of the world to achieve a major leap in the sector, at local and regional level. This partnership emphasizes integration and leveraging the competitive advantages and unique capabilities of each of the three countries. The partnership will be the core of a broader collaboration that will help build a more sustainable economic base for each member country.
He added: “I salute the vision and support of the senior leaders of the three countries involved in this partnership. The professionalism and enthusiasm shown by the teams in each country reflect our common desire to speed up the establishment of partnership mechanisms. We are all committed to enabling positive economic returns in the medium and long term, the necessary procedural steps, feasibility studies, immediate implementation of projects, adoption of an integrated industrial partnership strategy and sector entities private sector to implement their own project investment.”
Dr. Al Jaber added, “This partnership reflects the UAE’s commitment to building quality partnerships regionally and globally in a way that enhances the UAE’s industrial sector and enables industrial investors to access global markets. Investors will benefit from the competitive advantages offered by the three countries, such as logistics, infrastructure and the availability of raw materials. These benefits can help ensure strong supply chains, drive sustainable economic growth and strengthen value-added industries for the economies of the United Arab Emirates, Egypt and Jordan.
The Steering and Executive Committee is responsible for connecting private sector entities with investors in five key sectors, assessing the feasibility of projects, creating a roadmap for project implementation, monitoring challenges and catalysts to stimulate investment, and to identify and enable the implementation of projects..
The set of resources and competitive advantages of the United Arab Emirates, Egypt and Jordan include raw materials, such as energy resources in the United Arab Emirates, fertile agricultural land in Egypt and minerals in Egypt and in Jordan. These countries also have strong capacities in the pharmaceutical sector with the possibility of developing and expanding their production capacity. They also have strong capabilities in aluminum, steel, and petrochemicals, among others..