Trilateral industrial cooperation

Tuesday 31 May 2022

Food and agriculture, fertilisers, pharmaceuticals, textiles, minerals, and petrochemicals are the five sectors at the heart of the Industrial Partnership for Sustainable Economic Growth Agreement signed between Egypt, Jordan, and the United Arab Emirates in Abu Dhabi on Sunday.

The prime ministers of Egypt, the UAE and Jordan
The prime ministers of Egypt, the UAE and Jordan

 

The partnership targets the launch of joint projects to promote industrial and value-chain integration across the three countries.

The signing of the agreement, overseen by the prime ministers of the three countries, builds on the trilateral meeting that brought them together in April when they discussed regional cooperation on food and energy security.

Prime Minister Mustafa Madbouli said the partnership aimed at formulating a strategy of integration among the industrial sectors of the three countries to achieve self-sufficiency in commodities and basic products, a cabinet statement said. Madbouli said a road map and executive plan with a clear time frame would soon be developed to ensure the implementation of the partnership to take advantage of the competitive and relative advantages of each of the three countries.

“There will be continuous follow-up on the implementation of these projects with a view to facilitating procedures and overcoming obstacles. We aim to quickly reap their benefits, especially as the first phase achieves many gains in terms of enhancing food and pharmaceuticals security. The projects will also attract foreign investment and provide job opportunities for young people,” Madbouli said, according to UAE news agency WAM.

“The partnership embodies the vision of President Sheikh Mohamed bin Zayed Al-Nahyan to enhance industrial integration with the Arab countries 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,” UAE Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al-Nahyan said at the signing of the partnership, according to WAM.

The combined industrial capacity of the three countries represents around 26 per cent of the total industrial capacity of the Middle East and North Africa region, WAM said. “The projects that have been agreed upon will create added value for the three countries and will have a positive impact on national security, local industry, and supply chain activities,” it quoted Madbouli as saying.


*A version of this article appears in print in the 2 June, 2022 edition of Al-Ahram Weekly.

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