Jordan, UAE and Egypt launch industrial partnership

AMMAN — Jordan, the UAE and Egypt on Sunday signed an agreement announcing the Industrial Partnership for Sustainable Economic Growth  Initiative during a meeting of the tripartite industrial integration in Abu Dhabi on Sunday.

Minister of Industry, Trade and Supply Yousef Shamali, Emirati Minister of Industry and Advanced Technology Sultan Al Jaber and Egyptian Minister of Trade and Industry Nevine Gamea signed the agreement during a ceremony attended by Prime Minister Bisher Al Khasawneh, Egyptian Prime Minister Mostafa Madbouly and Emirati Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour Bin Zayed Al Nahyan.

The initiative seeks to realise the capabilities, potential and expertise each of these countries enjoy in developing competitive industries at a global level, providing industrial opportunities with billion-dollar worth economic value, the Jordan News Agency, Petra, reported. 

It also seeks to develop more joint industrial projects in the future, achieve progress towards self-sufficiency, and ensure food and health security. 

Khasawneh stressed that this trilateral meeting highlights the "deep-rooted" partnership and "distinguished relations" among the three countries, whose peoples always aspire to further accomplishments in various economic cooperation aspects.

In this regard, the premier referred to the vision reviewed in the trilateral summit between His Majesty King Abdullah, Egyptian President Abdel Fattah Al Sisi and Emirati President Sheikh Mohamed Bin Zayed Al Nahyan in Cairo in April, which reflected shared views on several joint issues and Arab causes, where the three leaders stressed the importance of joint Arab action and coordinating efforts to face current and possible challenges to reduce the repercussions on “our countries and peoples”.

He expressed confidence that this integration will yield strategic benefits for the countries and peoples, most important of which is realising safe and flexible supply chains in a way that ensures the sustainability of commodities easily without any interruptions or shortcomings. 

It will also stimulate economic growth and diversity, reduce the costs of imports, and find alternative imports, which will all boost the strengths and flexibility of the economies, the PM said, according to Petra.

The prime minister also referred to the Kingdom’s expanding industrial sector that is attracting investments, employing qualified efficiencies and supporting the national economy, where the sector currently contributes around 24 per cent of the GDP, accounts for nearly 90 per cent of the national exports and 70 per cent of foreign investments, and employs almost 21 per cent of the total workforce.

Khasawneh also said that Jordanian industries managed to access some 140 countries thanks to His Majesty’s international contacts that made the Kingdom act as a centre for good international relations, supported by the legislations that follow the best international practices and local features of this sector.