Friday 09 December 2022 - 12:15:53 am

Industrial partnership among UAE, Egypt and Jordan enhances sustainable growth: Ministers, officials


ABU DHABI, 29th May, 2022 (WAM) -- Ministers and officials have emphasised that Industrial partnership for Sustainable Economic Growth will provide an opportunity to achieve qualitative industrial growth and enhance the exchange of knowledge and expertise in many vital areas, especially through increasing reliance on advanced technology solutions.

In her remarks on the occasion, Sarah bint Yousif Al Amiri, Minister of State for Public Education and Advanced Technology, stated: "The Industrial Partnership for Sustainable Economic Growth marks a new step towards bolstering key industrial capabilities in the country through accessing markets regionally. The UAE believes that regional and global cooperation and partnerships are fundamental to opening new opportunities for industrial development. The Jordan-UAE-Egypt partnership will unlock opportunities to ensure significant industrial growth ."

Al Amiri highlighted that this partnership will leverage current programs in advanced technology that aim to increase productivity and efficacies with key industrial players. The partnership will also enhance the exchange of knowledge and expertise across key areas, leveraging expertise in the adoption of technology across industry."

Al Amiri reiterated: " The UAE believes that regional and global cooperation and partnerships are fundamental to opening new horizons for industrial development. With our partners, we seek to integrate our efforts, in line with the objectives set by the National Strategy for Industry and Advanced Technology, and boost our critical and priority industrial sectors. The vast resources and unique competitive advantages of the UAE, Jordan and Egypt are key to driving sustainable economic growth in the region."

On his part, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Vice Chairman of the Industrial Development Council, stressed the importance of the Industrial Partnership for Sustainable Economic Growth, which the United Arab Emirates signed with the Hashemite Kingdom of Jordan and the Arab Republic of Egypt. The partnership will promote and support efforts towards the continuing economic diversification of the three nations and benefit the industries of common strategic interest.

He said: "The partnership will directly increase the competitiveness of the key sectors of common interest, considering the bilateral agreements between the UAE and the Hashemite Kingdom of Jordan on the one hand, and the UAE and the Arab Republic of Egypt on the other. The fact that the total value of foreign trade in the UAE, Egypt and Jordan amounted to $885 billion in 2021 provides a promising foundation and ongoing opportunities for this strategic partnership."

He pointed out the strategic importance of this partnership, highlighting the context of the UAE's march towards the next 50 years of economic and industrial development and growth, and the UAE’s focus on implementing the "Projects of the 50" plans.

"This tripartite partnership will boost the security, flexibility and sustainability of supply chains, and support our goals of diversifying the economy and stimulating industrial growth, while consolidating relations between the three nations. It will also unlock new opportunities for industrialisation, and strengthen national industries in each country", he said.

He explained that the industrial sector is a key driver for the development of foreign trade, and that the model of integrated partnership between the three nations will contribute to uncovering new ways of achieving growth and prosperity for each of the respective nations involved. "This partnership is a solid foundation for building long-term development collaboration and cooperation opportunities for a bright future in various fields, particularly in the economy, industry and investment", he said.

He added: "The Industrial partnership for Sustainable Economic Growth with the Hashemite Kingdom of Jordan and the Arab Republic of Egypt is a central pillar of the UAE’s efforts to establish integrated trade and investment relations with its main partners, in light of the projects and objectives of the next 50 years."

Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, said, "The UAE’s strategic partnership with Jordan and Egypt represents an unprecedented model of cooperation at regional and global levels. It paves the way to a new era of collective growth and prosperity, as well as large-scale industrial development."

Further elaborating on industrial progress, he added: "This economic integration will create great opportunities to support the process of sustainable economic development and strength commercial and industrial cooperation among partner countries." He pointed out that the objective of the initiative is to present a model to the world on successfully achieving progress through collaboration.

Dr. Sulaiman Rashid AlNuaimi, CEO- Government Affairs indicated that Al Dahra Group is looking forward to contribute to this strategic initiative by providing F&B to the three countries and benefit from the promising opportunities in different markets to achieve industrial integration in the field of food and agriculture, through our efforts on the ground and the modern technologies used in our farms and factories, which are distributed over the five continents, to ensure the stability and continuity of the food supply chain throughout the year.

Abdulnasser bin Kalban, Chief Executive Officer of Emirates Global Aluminium said, "As the largest industrial company outside of oil and gas in the United Arab Emirates, we always welcome the opportunity for future partnerships and deepened knowledge-sharing collaboration. EGA currently supplies aluminium billets to companies in both Jordan and Egypt and has ongoing active technology discussions in Egypt. The announcement of the Industrial Partnership Initiative for Sustainable Economic Growth with these fraternal nations, will promote greater value-chain integration and drive the development of our industry for the future."

Ahmed Mohamed Al Naqbi, Chief Executive Officer of EDB noted that the Industrial Partnership Initiative for Sustainable Economic Growth between the UAE, the Hashemite Kingdom of Jordan, and the Arab Republic of Egypt, is a significant step inspired by the Principles of the 50, which highlights the need to develop long-term relations based on mutual interest and principles of flexibility, openness, and international economic collaboration with strategic allies around the world.

This new partnership also reflects the directives of the UAE’s wise leadership to transform the national industrial sector into a long-term, sustainable engine of growth, which it will achieve by fostering new sectors that respond to the needs of the future, enhancing operational efficiencies through advanced technology and improving productivity, product quality and global competitiveness.

The initiative is, therefore, in line with the strategic objectives of Emirates Development Bank and its role as the key financial engine of this economic diversification and industrial transformation agenda. EDB will continue to support national projects that have demonstrable economic impact, and contribute to this new partnership that will increase market flexibility, enhance regional food security, and bolster medical and technological self-sufficiency. This will support diversifying local industries and strengthening supply chains, which will have a positive long lasting impact on the nation’s economy.

Alan Smith, Chief Executive Officer of Agthia Group said that Agthia Group supports the Integrated Industrial Partnership Initiative between the UAE, Jordan, and Egypt. As a strategic partner, we are committed to the growth and integration of trade between the three nations by developing industries that can compete globally, especially in the Food and Beverage sector.

Jordan and Egypt are key markets for Agthia Group. Our recent acquisition of Nabil Foods in Jordan has enabled us to build our protein business through their national and international networks of over 20 markets. Furthermore, our acquisition of Atyab – the renowned Egyptian processed meat producer – has resulted in expanding the category and grew Agthia’s regional market leadership with its annual production capacity of over 70 thousand tones and established supply network.

Agthia Group is proud of partnering with such leading brands in the Jordanian and Egyptian markets and we look forward to more opportunities that can further strengthen the bond between all three nations and support the sustainable development of the value-added manufacturing sectors and prosperity in the entire region, he concluded.

 

WAM/Hazem Hussein