business

Minister of Industry: Promising opportunities to achieve industrial integration between Egypt and the UAE


Engineer Ahmed Samir, Minister of Trade and Industry, stressed that the global crises that emerged recently and negatively affected the global economic system prompted Arab countries to move towards strengthening integration efforts, in anticipation of a further slowdown in global supply chains, pointing out in this context to the importance of concerted efforts between officials and the sector. private sector in the Arab countries to achieve this desired integration.

This came during the minister’s participation in the “Egypt-Emirati Relations: An Integrated Economic Partnership” session, which was held within the framework of the economic forum held on the occasion of the celebration of the 50th anniversary of the start of diplomatic relations between Egypt and the UAE, in the presence of Dr. Hala Al-Saeed, Minister of Planning and Economic Development, and Abdullah bin Touq. Al Marri, UAE Minister of Economy, Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, as well as a group of ministers from the two countries and representatives of Egyptian and Emirati business organizations.

The minister said that the integrative industrial partnership initiative between Egypt, the UAE and Jordan was launched last May, and the Kingdom of Bahrain joined it recently, with the aim of enhancing cooperation and integration in several areas, most notably industry, investment, supply chains, agriculture, fertilizers, textiles, minerals and petrochemicals, noting that 87 projects have been approved. Within the framework of the partnership, it was agreed to start cooperation in 12 projects, with a total investment of $3.4 billion, and the rest of the projects are being studied.

Samir explained that the second phase of the initiative focuses on industrial integration between the existing industrial facilities in the four countries of the initiative and strengthening cooperation between them, pointing out that there are many promising opportunities to enhance trade, investment and industrial cooperation between the two countries during the next stage.

Related Articles

Back to top button