Arab League Celebrates Historic Agreements For Arab Common Electricity Market
Date
11/30/2024 2:46:33 PM
(MENAFN- The Peninsula)
QNA
Cairo: The upcoming meetings of the Arab Ministerial Council for Electricity will feature the Arab League's landmark celebration of the signing of two pivotal agreements for the Arab Common Electricity Market: the General Agreement and the market Agreement.
In a statement released today, the Arab League hailed the signing of these agreements as a historic milestone in the pursuit of joint Arab action. This achievement marks the culmination of collaborative efforts in the electricity sector and sets the foundation for enhanced regional integration.
Assistant Secretary-General and Head of the Economic Affairs Sector at the Arab League HE Ambassador Ali bin Ibrahim Al Maliki, emphasized that the agreements represent a significant step toward achieving comprehensive integration in Arab electricity.
They pave the way for the establishment of an integrated Arab electricity market that enhances supply stability, reduces costs, and attracts investments in renewable energy. Such advancements, he noted, will position Arab nations as leading global suppliers of clean energy.
HE Ambassador Al Maliki further highlighted that the pilot project involving the Arab Mashreq countries serves as the cornerstone for implementing the Arab Common Electricity Market. This milestone, he asserted, initiates a new phase of economic cooperation and reinforces energy sovereignty across the Arab region.
The 39th session of the Executive Office of the Arab Ministerial Council for Electricity is set to convene Sunday, ahead of the launch of the Council's 15th session.
MENAFN30112024000063011010ID1108941914
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.