UAE, Egypt, Jordan, Bahrain set to announce joint industrial projects worth millions of dollars

AMMAN, 23rd February, 2023 (WAM) — Ministers from the UAE, Egypt, Jordan, and Bahrain are set to meet on Sunday where they will oversee the signing of agreements between industrial companies for projects worth millions of dollars.

The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan’s capital Amman, where representatives from the four countries will discuss the partnership’s latest developments as well as joint industrial projects. The meeting will also result in a report and recommendations from the Executive Committee.

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

Under the partnership, the member states will collaborate to grow their respective industrial sectors by integrating resources and industries and leveraging competitive advantages. The countries will also work together to reduce costs, enhance supply chains, create job opportunities, contribute to economic development, promote self-sufficiency, and boost industrial competitiveness.

Various agreements will be signed between 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 the partnership, empower the member nations’ respective industrial sectors, grow the sectors’ contribution to GDP, bolster supply chains, reduce costs, and create new job opportunities.

Executive Committee meetings

The meetings of the Supreme Committee will be preceded by the meetings of the Executive Committee, on Saturday 25th February, with the participation of chairmen and members of the committee from the four countries, in addition to representatives of industrial companies from the UAE, Egypt, Jordan, and Bahrain.

The Executive Committee will prepare a report for presentation to the Supreme Committee on the partnership’s latest achievements and proposals to empower the industrial sectors of each partner country.

Five strategic goals

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