Bahrain joins Arab industrial initiative

1. Bahrain joins Industrial Partnership
Rolled metal products of different shapes. (Photo: Envato Elements)
AMMAN — The second meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Growth, resumed in Cairo, a local news outlet reported.اضافة اعلان

The meeting of the Integrated Industrial Partnership Initiative, which includes Jordan, Egypt, and the UAE, saw Bahrain joining the group, said a statement by the Egyptian Ministry of Trade and Industry. It said Bahrain’s Minister of Industry and Commerce Zayed bin Rashid Al-Zayani attended.

The group’s Higher Committee approved recommendations by its Executive Committee in two days of meetings in Egypt, in which firms operating in the fields of agriculture, food, fertilizers, and medicine also attended.

A list of 87 suggested projects were mapped out, including 12 which were endorsed for feasibility studies. They include projects in agricultural, food, fertilizers, and pharmaceutical sectors as a first stage, with a projected investment of $3.4 billion.

The second stage is expected to focus on metal, chemicals, plastics, textiles, and clothing.

Jordan’s Minister of Industry, Trade, and Supply Youssef Al-Shamali said the two-day meetings followed up on the activities of private sector firms and their workshops, which have been convening in the past few weeks.

He said the meetings were a continuation to an agreement announced in Abu Dhabi two months ago, which called for Jordan, Egypt and the UAE to launch an integrated industrial partnership to achieve sustainable growth.

Shamali pointed to Royal directives, saying King Abdullah is an ardent supporter of various forms of joint Arab action. “That is what the meeting is based on, and it will culminate in fruitful economic cooperation for the four countries,” he said.

He explained that the meeting manifested the strong political and economic relations between the countries in the newly-formed grouping, which is a stepping stone towards a new phase for the systematic pursuit of economic integration.

Shamali pointed out that Bahrain’s presence constitutes a strong economic push for the Industrial Partnership Initiative, enhancing the achievement of the desired economic integration and building a unique industrial partnership capable of meeting the objectives of the initiative, and achieving economic growth for its member states.

With the emerging food security crises globally, priorities must be rearranged to find serious practical solutions to reduce its repercussions on the people and to give national economies the necessary strength to confront any future global crisis, the minister said.

He said that there is a real opportunity to transfer what has been agreed upon into actual projects through new partnerships between businessmen from Jordan, Egypt, the UAE, and Bahrain, expanding the areas of cooperation and agreeing on investments that will reflect positively on the sustainable development which the Kingdom seeks.

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