The comprehensive industrial partnership for a sustainable economic development initiative that Jordan, the UAE and Egypt signed on Sunday establishes “unprecedented cooperation” to realise economic integration in various fields, mainly at industry level, Minister of Industry, Trade and Supply Yousef Shamali said on Sunday.
In a press statement following the signing ceremony, Shamali said that this initiative is a “real translation” for the joint vision and endeavours of three countries’ leaderships to build effective economic partnerships.
Alongside this, it gives support for wider pan-Arab economic cooperation over the next stage, the Jordan News Agency, Petra, reported.
Shamali added that the industrial sector is a major driver to develop the economic situation in various fields, stimulate other sectors and contribute significantly to creating job opportunities while reducing poverty and unemployment.
The minister noted the initiative at this level reflects the three countries’ “deep-rooted” vision to achieve industrial integration and enhance benefits from their resources, capabilities, raw materials, expertise and “distinguished” geographical locations.
He said that the initiative will utilise the large logistic potential, transport infrastructure and smart financing solutions of the countries. Ultimately, it aims to establish integrated industries that would contribute to diversifying the economy, promoting its growth and creating specialised job opportunities.
The initiative, he said, supports frameworks for strengthening tripartite cooperation in all fields, especially in the economic areas.