The Arab countries have stepped up their integration efforts in anticipation of further slowdowns in global supply chains, Eng. Ahmed Samir, Minister of Trade and Industry, stressed. In this context, he emphasised the importance of concerted efforts between government officials and the private sector in the Arab countries to achieve this desired integration.
In the presence of Dr. Hala Al-Saeed, Minister of Planning and Economic Development, and Mr. Abdul God Bin Touq Al-Marri, UAE Minister of Ec, the Minister said this while participating in the “Egyptian-Emirati Relations: An Integrated Economic Partnership,” which was held as part of the events of the economic forum held in honour of the 50th anniversary of the beginning of diplomatic relations between Egypt and the Emirates.
Along with a delegation of ministers from the two nations and representatives of Egyptian and Emirati business organisations, Thani Al-Zyoudi, the Emirates’ State Minister for Foreign Trade, attended the event.
The minister said that the integrated industrial partnership initiative between Egypt, the Emirates and Jordan was launched during the month of May and the Kingdom of Bahrain recently joined it with the aim of enhancing cooperation and integration in several areas, most notably industry, investment, supply, agriculture, fertilizers, textiles, minerals and petrochemicals, indicating that 87 projects were approved within the partnership framework Additionally, it was decided to begin working together on 12 projects, with a total investment of 3.
The remaining projects, which would cost another $4 billion, are being researched.
There are many promising opportunities to increase trade, investment, and industrial cooperation between the two countries during the next stage, according to Samir, who explained that the initiative’s second stage focuses on industrial integration between the already-existing industrial establishments in the four initiative countries and enhancing cooperation between them.
Ahmed Samir: The world economy system was badly impacted by global crises.
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