(MENAFN- Trend News Agency)
The United Arab Emirates, Egypt and Jordan officially signed the
'Industrial Partnership for Sustainable Economic Growth' in Abu
Dhabi on Sunday, Trend reports citing Al Arabiya.
The UAE's Deputy Prime Minister and Minister of Presidential
Affairs sheikh Mansour bin Zayed Al Nahyan witnessed the signing of
the partnership which marks a new era of opportunities to enhance
economic growth across five key sectors: food and agriculture,
fertilizers, pharmaceuticals, textiles, minerals, and
petrochemicals.
The launch was also attended by Egypt and Jordan's Prime
Ministers Mostafa Madbouly and Bisher al-Khasawneh.
The agreement was signed by the UAE's Minister of Industry and
Advanced Technology Dr. Sultan bin Ahmed al-Jaber, Egyptian
Minister of Industry and Trade Dr. Nevein Gamea, and Jordan's
Minister of Industry, Trade and Supply Yousef al-Shamali.
“The partnership embodies the vision of President Sheikh Mohamed
bin Zayed Al Nahyan, to enhance industrial integration with Arab
nations and the rest of the world so we can achieve a major leap in
the industrial sector and transform its potential as an economic
driver. Industry is the backbone of the world's largest economies,”
WAM quoted Sheikh Mansour as saying.
“Through its capabilities, effective policies and current focus
on developing advanced technology and logistics infrastructure, we
are confident that the UAE can build a global economic powerhouse
by leveraging industrial partnerships across the region,” he added,
stressing the need to advance the industrial sector in the three
nations to ensure economic diversification and resilience.
The UAE, Egypt, and Jordan have diverse resources and unique
competitive advantages, including access to raw materials. In
particular, they enjoy robust capabilities in the pharmaceutical
industries, with clear ambition to develop and expand them further
and increase their production capacity, and also seek to strengthen
their manufacturing capabilities in the steel, aluminum,
petrochemicals, and derivatives sectors.
The three countries' combined industrial capacity represents
around 26 percent of the total industrial capacity in the Middle
East and North Africa region.
“The continued active interaction and coordination at the
leadership level confirms the strength of these relations with the
industrial sector at the center of the partnership. In Jordan, an
attractive investment destination, industry contributes to 24
percent of the GDP, and account for 21 percent of the countries
employment,” said al-Khasawneh.
“Jordan exports to many countries around the world and is
empowered by supportive laws and regulations.”
The partnership includes launching joint industrial projects
between the countries to promote economic growth and industrial
integration, achieve self-sufficiency, and integrate value chains
across the UAE, Egypt and Jordan, WAM reported.
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