AMMAN — Jordan, the
UAE, and Egypt signed a tripartite agreement launching the Integrated
Industrial Partnership Initiative for sustainable economic development between
the three countries.
اضافة اعلان
Prime Minister Bisher Al-Khasawneh led top-level
Jordanian delegation for the two-day meetings of the tripartite cooperation for
industrial integration, which concluded in Abu Dhabi on Sunday.
The initiative envisions benefitting from the areas
of integration by utilizing the capabilities and expertise of the member
countries in the development of competitive industries and providing industrial
incentives. The initiative predicts sizeable investments, estimated at $10
billion.
The agreement was signed by the Jordanian Minister
of Industry, Trade and Supply, Youssef Al-Shamali, UAE’s Minister of Advanced
Industries Sultan Al-Jaber, and Egypt’s Minister of Trade and Industry Nevin
Jameh.
Economist Musa Al-Saket said the initiative covers
holding firms which have previously invested in Jordan in existing or new
projects.
“The amount of expected investments is good and
comes at the right time, since we urgently need it to create job opportunities
in light of the challenges and regional conditions.”
The challenges, he explained, included the
repercussions of the Russian war on Ukraine and the COVID-19 pandemic and food
security. “The initiative is expected to move the wheels of our economy”, he
said.
Saket said he believed that Egypt will command the
lion’s share of the investments because its economy is much larger than Jordan.
But Jordan, he added, has advantages, which include
its strategic location at a cross in the
Middle East and its significant natural resources,
such as fertilizers, phosphates, and minerals.
Another economist, Wajdi Makhamreh, said the
initiative underlines interest in food integration.
He suggested feasibility studies on cultivating wheat
and barley locally, as a step towards achieving food security.
Yanal Al-Barmawi, the spokesperson of the Ministry
of Industry, Trade, and Supply said the initiative will be beneficial to the
three countries, considering that it will create jobs in certain specialized
fields.
He said the investments will be mainly in the
industrial sector, which includes food, fertilizers, medicines, textiles,
minerals, and petrochemicals.
“The initiative constitutes a qualitative leap to
achieve the common interests of the three countries,” he told Jordan News.
Jawad Al-Anani, a former Cabinet minister and a
renowned economic expert, said some industries should resort to contract
farming, which means setting up a direct link between the industry and the need
for certain agricultural products.
With regard to wheat cultivation, Jordan’s
production did not exceed 70,000 tonnes in previous years, he said.
“We must focus on manufacturing fertilizers,
entering into the fine industries of fertilizers, and providing services and consultations
to farmers,” he said. “If we succeed in this, it is possible to expand the
cultivation of field plants such as legumes.”
In the wake of the Ukrainian crisis, the world is
heading towards achieving food security, which constitutes a great demand for
food production and for fertilizers, Anani maintained.
“This is a great opportunity for Jordan to achieve
investments and focus on economic expansion,” he said.
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