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UAE, Egypt, Jordan, Bahrain announce multi-million dollar joint industrial project – News

UAE, Egypt, Jordan, Bahrain announce multi-million dollar joint industrial project – News

Countries work together to reduce costs, strengthen supply chains, create jobs

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published: Thursday, February 23, 2023 at 11:34 pm

Ministers from the United Arab Emirates, Egypt, Jordan and Bahrain will meet on Sunday, where they will oversee the signing of agreements between industrial companies on multimillion-dollar projects.

The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will be held in the Jordanian capital Amman, where representatives from the four countries will discuss the latest developments in the partnership and joint industrial projects. The meeting will also result in reports and recommendations of the Executive Committee.

Yousef Al Shamali, Jordan’s Minister of Industry, Trade and Supply and Minister of Labour, will chair the meeting, attended by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Ahmed Samir Saleh, Minister of Industry and Trade of Egypt; and Bahrain Minister of Commerce and Industry Abdulla bin Adel Fakhro.

Under the partnership, the member states will cooperate to develop their respective industrial sectors by integrating resources and industries, giving full play to their competitive advantages.

Countries will work together to reduce costs, strengthen supply chains, create jobs, promote economic development, promote self-sufficiency, and improve industrial competitiveness.

Various agreements will be signed by industrial companies from the UAE, Egypt, Jordan and Bahrain. New projects will follow, with investments worth hundreds of millions of dollars. These investments will strengthen partnerships, enhance the capabilities of member countries’ respective industrial sectors, increase the sector’s contribution to GDP, strengthen supply chains, reduce costs, and create new jobs.

executive committee meeting

Before the Supreme Council meeting, the executive committee will meet on Saturday, February 25, with committee chairs and members from four countries, as well as from the UAE, Egypt, Jordan and Bahrain.

The Executive Committee will prepare a report to be presented to the Supreme Council presenting the latest results of the partnership and proposals to empower the industrial sectors of each partner country.

five strategic goals

The UAE, Egypt and Jordan launched an integrated industrial partnership for sustainable economic growth in Abu Dhabi in May 2022, and Bahrain joined during the partnership’s second meeting in Cairo in July.

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