Bahrain is set to organize an integrated industry initiative with Jordan, the UAE, and Egypt, the UAE Minister of Industry Dr. Sultan Al Jaber said.
During a press conference last week, Al Jaber said, “Bahrain has a distinguished industrial presence and a logistical network with the three countries, which encouraged its inclusion in the system.”
He stated that Bahrain was one of the first countries to seek industrial transformation and diversification, particularly in metals and aluminum.
Cairo hosted the meetings of the Higher Committee for the Integrative Industrial Partnership between Egypt, the UAE, and Jordan from July 23 to 25, with participating delegations led by the three countries’ ministers of industry and trade.
The initiative is part of Egypt, the UAE, and Jordan’s integrated industrial partnership initiative, which aims to achieve sustainable economic development and improve food and pharmaceutical security by localizing industry, expanding agricultural and animal production projects, and securing supply chains.
Moreover, the partnership is expected to boost the industrial manufacturing value add of the alliance to more than $112.5 billion.
Foreign Direct Investment (FDI) in the UAE, Egypt, and Jordan reached $151 billion between 2016 and 2020, accounting for about 42 percent of new FDI in the Middle East. The total value of the countries’ exports stood at $433 billion in 2019, while imports amounted to approximately $399 billion, according to the statement.”
