Latest news with #HigherCommitteeforIntegratedIndustrialPartnershipforSustainableEconomicDevelopment
Zawya
14-02-2025
- Business
- Zawya
Qatar's investments in Egypt witness significant growth - new prospects for future cooperation
Doha, Qatar: The Qatar-Egypt relationship has been dynamically thriving at the economic level throughout the past three years, especially in the area if investment, thereby promoting their volume of trade exchange and increasing the shared investments, by virtue of the State of Qatar' success in diversifying its economy. In addition, Egypt's large investments have been increased in multiple fields amid unwavering efforts to expand investments between the two sisterly countries in critical areas during the coming period. The two nations intensified their talks and mutual visits to give impetus to cooperation in investment, culminating in the visit of HE Deputy Prime Minister for Industrial Development and Minister of Transport and Industry of the Arab Republic of Egypt, Lt. Gen. Kamel Abdelhadi El Wazir this week to participated in the fifth meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development. On the margins of this meeting, His Excellency met with HE Minister of Transport Sheikh Mohammed bin Abdullah bin Mohammed Al-Thani and discussed relations of bilateral cooperation in transportation and ports, in addition to avenues for strengthening them, particularly through leveraging eco-friendly technologies in the sectors of land transportation services and the development of maritime navigation activities. HE Chairman of Qatar Chamber, Sheikh Khalifa bin Jassim Al-Thani met with HE the Deputy Prime Minister for Industrial Development and Minister of Transport and Industry of Egypt. The meeting was attended by Head of the Federation of Egyptian Industries, Eng. Mohamed Zaki Al Suwaidi, and HE Ambassador of the Republic of Egypt to Qatar Amr Al Sherbini. HE the Chairman of Qatar Chamber highlighted that there is ongoing coordination between the Qatar Chamber and the Federation of Egyptian Chambers of Commerce to boost cooperation in a range of economic sectors, in addition to strengthening the relationship between businessmen from both nations, noting that this collaboration would reinvigorate joint investments and ventures, ultimately boosting trade exchanges. His Excellency indicated that the volume of trade between Qatar and Egypt increased by 38 percent during the past year, reaching a value of approximately QAR 746 million, compared to QAR 540 million in 2023. HE El Wazir emphasized that Egypt offers numerous incentives and facilities to Qatari investors, including the expedited allocation of industrial lands and the issuance of licenses on the same day, highlighting that there are 23 investment opportunities in the Egyptian industrial sector, encompassing industries that are not only in demand within the Egyptian market but can also be exported to foreign markets. He encouraged Qatari businessmen to invest in his country, particularly in the industrial sector. This meeting convened within the framework of a series of active engagements between the two nations, particularly following the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to Egypt in June 2022, and the visit of HE President of the Arab Republic of Egypt, Abdel Fattah El-Sisi to Doha on Sept.13, 2022. The is in addition to His Excellency's participation in the opening ceremony of the FIFA World Cup Qatar 2022 in November 2022, which had a profound impact in paving the way for the opening of new horizons to further strengthen bilateral relations, covering a broad spectrum of political, economic, and other pertinent issues, particularly in light of the current challenges faced by the region and the world. Overall, the two nations have engaged in extensive discussions over the past three years, particularly through the visits of HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani to Egypt, to reinforce bilateral cooperation in economic spheres. This effort was initiated on March 29, 2022, with a meeting between HE Prime Minister of the Arab Republic of Egypt Dr. Mostafa Madbouly, and the participation of HE Minister of Finance Ali bin Ahmed Al Kuwari to discuss bilateral relations between the two nations, in addition to the importance of beefing up cooperation and coordination across various sectors. Both parties commended the establishment of a Joint High Committee, chaired by the foreign ministers of both countries, dedicated to facilitating ongoing consultations and enhancing cooperation and coordination in all fields. The economic and investment cooperation between the two countries has been further strengthened through the agreement on a range of investments and partnerships in Egypt, amounting to a total of USD 5 billion to be allocated over the forthcoming period. On Nov. 27, 2024, the visit of HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani to Egypt received significant attention, particularly regarding the economic dimension of bilateral relationship, with a particular emphasis on investment matters. Throughout the visit, His Excellency met with HE President of the Arab Republic of Egypt, Abdel Fattah El-Sisi and HE the Egyptian Prime Minister Dr. Mostafa Madbouly. In a joint press conference with HE Minister of Foreign Affairs, Immigration and Egyptian Expatriates Affairs, Dr. Badr Abdel Aati. HE the Prime Minister and Minister of Foreign Affairs highlighted that the visit marked significant milestones in the bilateral relations between the two nations, encompassing a wide array of topics, with particular emphasis on economic cooperation and investment sectors. It also provided an opportunity to review the existing Qatari investments in Egypt. His Excellency expressed his anticipation that this visit would contribute to the continued efforts of the working teams in monitoring the progress of these projects and further strengthening the commercial and economic cooperation between the two brotherly countries. For his part, HE Abdel Aati clarified that HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani was briefed on a comprehensive presentation from the Egyptian Prime Minister and various ministers regarding the investment climate and the favorable business environment for Qatari investments in Egypt. The discussion also focused on addressing any potential challenges that investors might encounter, including matters related to trade exchange and cooperation in humanitarian fields. Regarding the importance of expanding the investment file between the State of Qatar and the Arab Republic of Egypt, Egyptian economic experts and analysts emphasized that enhancing Qatari investments in Egypt would open new horizons for growth and cooperation in light of successive global shocks and geopolitical tensions in the Arab region, especially since the two countries are holding consultations to expand investments in new fields, particularly energy projects, and to increase the volume of trade exchange and facilitate mutual investments, in addition to removing obstacles that may prevent this, as well as in light of the several successful Qatari investments in the Egyptian market, including, for example, investments by the Qatar Investment Authority estimated at around USD 3.317 billion in resorts and tourism projects. In his remarks to Qatar News Agency (QNA), Professor of International Economics and Member of the Egyptian Society for Economics and Legislation and Member of the Egyptian Society for Political Economy, Statistics and Legislation Dr. Ali Al Idrissi said that economic relations between Egypt and the State of Qatar have witnessed remarkable development during the past two years in particular, as the volume of Qatari investments in Egypt has increased to more than USD 5 billion, focused on energy, real estate, and tourism projects, with future plans to increase investments in industry and infrastructure. He noted that the volume of trade exchange between the two countries has increased to reach around USD 1.2 billion in 2024, compared to USD 890 million in 2022, attributing this growth to several reasons, including facilitating investment procedures, removing customs barriers, and enhancing cooperation in joint projects. Al Idrissi added that the Egyptian market is one of the most attractive markets for Qatari investments, due to its large size, which includes more than 100 million consumers, in addition to the advanced infrastructure and economic reforms that have improved the business environment. He pointed out that he expects that with the continuation of this momentum, Qatari investments in Egypt will rise to USD 7 billion by 2026, with a greater focus on renewable energy and technology projects, which will enhance the economic partnership between the two countries and open new horizons for growth and cooperation in light of successive global shocks and geopolitical tensions in the Arab region. Regarding the impact of this remarkable development in the investment cooperation relations between the two countries, Economic expert and head of the Capital Center for Economic Studies and Research Khaled Al Shafei told QNA that investments between Egypt and the State of Qatar aim to achieve more economic and industrial integration, more production capacities and job opportunities, considering that these investments work to increase the volume of production and the capacity of Egyptian products in terms of exports, in addition to reducing the import bill, and thus reducing the deficit represented in the trade balance. He pointed out that increasing the volume of trade exchange in this regard means facilitating the ways of access of Egyptian and Qatari goods and commodities to and from the two countries without imposing any fees or burdens, which enhances the opportunities for the flow of trade movement between them and meeting the needs of the citizens of the two countries. In this regard, Al Shafei emphasized the importance of increasing investments in new and diverse activities, such as investment in energy fields, as it represents a basic factor in investment and economic security, contributing to creating a strong economy and effective industries. It is also the basic pillar on which any new investment depends, as providing energy enhances the opportunities to provide and meet the needs of all existing and planned projects in the coming periods. He pointed out that increasing the volume of Qatari investments in Egypt gives positive returns to both parties, in light of Egypt's large market of more than 100 million people, and it is also the gateway to Africa. Regarding the most important Qatari investments that increased the volume of trade exchange between the two countries, Egyptian economic analyst Ahmed Adam said that economic relations between Egypt and the State of Qatar began to witness remarkable growth since the increase in the volume of trade exchange between the two countries in 2021 at a growth rate of 76.4 percent. In this regard, he noted that this growth is due to the increase in Egyptian exports to the State of Qatar, especially agricultural products, food, and textiles, while Egypt's most important imports from the State of Qatar are liquefied natural gas, petrochemicals, and aluminum. He added that Qatar National Bank is a shining example of the success of Qatari investments in Egypt, as it achieves successes that support the strength, durability, and stability of the Egyptian banking system, as the bank's total assets in Egypt amount to EGP 620.5 billion, and the bank achieved profits worth EGP 15.8 billion according to the latest approved annual budget for the bank, which owns 234 branches and includes 7,209 employees, as it is one of the three largest banks in the private sector, and a major player in the banking market in Egypt. In light of the diversity of Qatari investments in Egypt, HE Prime Minister of the Arab Republic of Egypt Dr. Mustafa Madbouly had mentioned in a previous interview with QNA that 261 Qatari companies with a Qatari contribution amounting to USD 2.165 billion operate in the Egyptian market, including USD 249 million in the tourism sector, about USD 208 million in the construction sector, and about USD 36 million in the industrial sector. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Emirates 24/7
10-02-2025
- Business
- Emirates 24/7
Qatar, Türkiye join regional Integrated Industrial Partnership, over $2 billion worth of new industrial projects announced
The fifth meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development commenced yesterday, Sunday, in Doha, the capital of Qatar. The meeting was attended by several key officials, including: Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry in the State of Qatar; Yarub Falah Al Qudah, Minister of Industry, Trade and Supply in the Hashemite Kingdom of Jordan; Lieutenant General Engineer Kamel Al Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport in the Arab Republic of Egypt; Abdulla bin Adel Fakhro, Minister of Industry and Commerce in the Kingdom of Bahrain; Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco; and Mehmet Fatih Kaçir, Minister of Industry and Technology of the Republic of Türkiye. This meeting reflects the commitment of the member countries to enhance industrial cooperation and foster sustainable economic development in the region. The meetings of the Higher Committee announced the accession of Qatar and Türkiye to the Integrated Industrial Partnership for Sustainable Economic Development, increasing the number of member states to seven within just three years of the partnership's launch. This significant addition enhances the strategic development of the partnership, which originated in Abu Dhabi in 2022, and reflects the shared ambition of member countries to improve industrial integration, strengthen cooperation, and build a resilient, competitive, and sustainable economy. The inclusion of Qatar and Türkiye marks a pivotal advancement in regional industrial integration. Their accession supports the partnership's objectives for industrial growth and expansion, bringing new momentum due to Qatar's abundant natural resources and technological advancements, as well as Türkiye's robust industrial capabilities. Both countries are recognised for their strengths in various sectors, including manufacturing industries, renewable energy, textiles and ready-made garments, pharmaceutical industries, chemical fertilisers and phosphates, mining and minerals, and food industries. The Integrated Industrial Partnership for Sustainable Economic Development is particularly significant considering rapid global developments. Member countries are focused on strengthening supply chains and achieving self-sufficiency in strategic and priority industries. The accession of Türkiye and Qatar underscores the partnership's vital role in driving sustainable economic growth, innovation and competitiveness. Qatar's inclusion in the Integrated Industrial Partnership for Sustainable Economic Development represents a crucial step in promoting regional collaboration across key industries. The Qatari economy exemplifies sustainable growth, with the industrial sector accounting for 25% of its GDP, bolstered by its unique chemicals, metals, and renewable energy industries. Through its National Strategy for Manufacturing Industries (2024-2030), Qatar aims to increase the industrial sector's contribution to QAR 70.5 billion by 2030, thereby reinforcing its status as an industrial powerhouse. Türkiye stands as a leading economic force, fuelled by its diversified industries and economic resilience, with a GDP exceeding US$1.1 trillion in 2023. Its strategic location provides access to markets with over 1.3 billion consumers, complemented by free trade agreements with numerous countries, enhancing its global competitiveness. Türkiye functions as a crucial hub for global supply chains, boasting robust industrial capabilities in sectors such as automotive, food processing, textiles, metals, and advanced technologies. The inclusion of Qatar and Türkiye in the Integrated Industrial Partnership for Sustainable Economic Development underscores the partnership's progress in promoting industrial integration and creating new opportunities for all member countries. Their advanced infrastructure, investment incentives, and skilled workforce will play a significant role in strengthening the regional industrial base and enhancing the competitiveness of the seven partner countries. This expansion paves the way towards achieving sustainable economic development goals, focusing on supply chain resilience, import substitution, and job creation. During the meeting, several agreements were signed, and strategic projects valued at over US$2 billion were announced, aimed at enhancing collaboration among member countries in critical sectors such as metals, pharmaceuticals, and plastic industries. These initiatives also prioritise the development of healthy food industries, biotechnology innovation, and advancements in electrical and high-tech industries. Key announcements included a raw material supply agreement between Bahrain Steel and Qatar, valued at US$1.3 billion. This agreement will facilitate the supply of 5 million metric tons of raw materials over the course of five years. Additionally, a Memorandum of Understanding was signed between the UAE's ISC Capital and Bahrain's Peninsula farms to establish a sustainable microalgae production facility in the Kingdom, with an investment of US$10 million. This project aims to advance microalgae production technology and provide industrial and medical solutions, aligning with Bahrain's Economic Vision 2030. Furthermore, it is expected to create job opportunities in areas such as research, agriculture, extraction, laboratory work, and production, contributing to the local economy and workforce development. Another significant announcement involved Egypt's Giza Cable Accessories's plan to establish a new facility in the UAE dedicated to producing cable accessories and electrical connectors, with an investment of nearly US$7 million. Additional agreements were finalised for the supply of PET plastic containers from Jordan's Exceed Industries and plastic caps from Egypt's Delta El Nile to UAE's Hayatna - National Dairy, each valued at US$10 million. Furthermore, a US$15 million agreement was signed for the supply of animal feed from the UAE's National Feed Factory (NFFM) to Qatar's Al Rayyan Horse Essentials. In the pharmaceutical sector, key agreements included a collaboration between the UAE's Globalpharma and Morocco's Zenith Pharma to manufacture, licence, and transfer technology in areas such as injectable medications, biologics, and treatments for cholesterol and diabetes. This partnership, with an investment exceeding US$50 million, aims to strengthen regional pharmaceutical security and enhance the capacity for local production of medical solutions. To enhance regional investments, the UAE's Mubadala Investment Company has announced the acquisition of two factories – Adwia Pharmaceuticals in Egypt and PHI in Morocco. This move significantly bolsters Mubadala's pharmaceutical investments on both a regional and global scale. Additionally, a MoU was signed between Morocco's Dolidol and the UAE's Intercoil. This collaboration aims to expand manufacturing capabilities for mattresses and foam production in the UAE. These new projects underscore the commitment of the member countries of the Integrated Industrial Partnership for Sustainable Economic Development to achieving sustainable economic development. They aim to accelerate economic growth, support sustainability, and enhance collaboration in economic and investment initiatives. The initiatives are expected to create new job opportunities, strengthen food and industrial security, and foster innovation across crucial and advanced industries. Collectively, these efforts represent significant strides toward establishing the region as a leading global hub for industrial investment. During the Higher Committee meetings, a comprehensive review of the partnership's achievements was conducted. His Excellency Omar Al Suwaidi, Secretary-General of the tripartite higher committee and Undersecretary of the Ministry of Industry and Advanced Technology in the UAE, presented a detailed report outlining the outcomes, which included the successful implementation of strategic projects and support for vital sectors across member countries. The meeting also provided updates on ongoing projects and discussed the future work plan, aimed at further enhancing regional cooperation and contributing to sustainable development. Member countries reviewed their competitive advantages, which include advanced infrastructure, supportive policies, and investment incentives designed for investors. They highlighted promising investment opportunities in strategic sectors, demonstrating the commitment of the partnership's countries to attract industrial investments and create a favourable investment environment that fosters regional economic integration. Four industrial companies were honoured by the attending ministers for their significant contributions in supporting the Integrated Industrial Partnership for Sustainable Economic Development: The UAE's Global Pharma and Jordan's Savvy Pharma were recognised for their outstanding efforts in pharmaceutical research and development among member countries. Emirates Steel and Bahrain Steel were acknowledged for their essential role in the supply of raw materials, as agreed in the previous Higher Committee meeting held in Bahrain in January 2024. The ministers encouraged other participating private sector companies present to follow the example set by these distinguished companies. They emphasised the importance of enhancing contributions to partnership projects and leveraging the competitive advantages provided by this initiative to promote sustainable development and advance vital sectors that benefit the member countries. Dr. Al Jaber began his speech by extending greetings from President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and conveying his wishes for continued success in achieving the shared goals of the partnership's countries. He emphasised that this partnership embodies a unified vision focused on enhancing sustainable economic development and strengthening complementary relations among member countries by leveraging their competitive advantages and the significant potential of the partnership. Dr. Al Jaber also expressed his gratitude to Qatar for hosting the fifth Higher Committee meeting and welcomed the inclusion of Qatar and Türkiye into the partnership, highlighting their roles in advancing the collective goals of the initiative. Dr. Al Jaber said, 'We welcome the inclusion of Qatar and Türkiye in the Integrated Industrial Partnership for Sustainable Economic Development, and we are confident that this step will bolster the common interests of all members, especially considering the industrial and economic standing of both countries. Their extensive track record of success across various sectors, particularly in the industrial field, plays a crucial role in supporting investment opportunities both regionally and globally.' He also expressed gratitude to the Executive Committee and the working teams from the member countries for their dedicated efforts in overseeing the implementation of work plans, reviewing the latest project developments, and organising workshops for the private sector. He noted that these efforts have led to tangible progress in achieving the partnership's objectives and fostering cooperation among member countries. Dr. Al Jaber added, 'The Integrated Industrial Partnership for Sustainable Economic Development is a remarkable success story that began in Abu Dhabi in May 2022. It has already transformed several agreements signed during previous meetings into tangible projects that we are now witnessing come to fruition. We are pleased to observe today the announcement of several new projects and agreements in key priority sectors, valued at over US$2 billion.' He emphasised that these projects contribute to the integration of expertise and capabilities among the partnership's countries, helping to build a sustainable common industrial base by leveraging each country's competitive advantages. Furthermore, these initiatives support supply chain resilience, reduce production costs, foster research and development, enhance the qualification of national competencies, and create thousands of job opportunities. Ultimately, they contribute to achieving the strategic goals of the partnership while fostering industrial growth and regional cooperation. Sheikh Al Thani said, 'The Integrated Industrial Partnership for Sustainable Economic development represents a strategic step towards enhancing industrial collaboration and integration among our countries by aligning key industrial sectors and establishing joint initiatives that contribute to improving the competitiveness and sustainability of the industrial sector.' He added, 'Qatar joining the partnership is a significant leap that reflects our strong commitment to enhancing industrial cooperation within the region. We are confident that this partnership will play a fundamental role in supporting sustainable development efforts by providing outstanding investment opportunities and fostering cooperation within the private sector. Moreover, Qatar's substantial economic potential and smart infrastructure will be instrumental in achieving the partnership's objectives and accelerating economic growth.' Kacır said, 'For Türkiye, strategic synergy between industrial innovation accumulated by national technology initiative, and effective global cooperation is among the key priorities. To this end, joining this partnership will not only provide strategic collaboration opportunities for our industries but also promote technological advancement and create new endeavours for sustainable economic development in our region. I believe this partnership will serve as a catalyst for enhancing regional collaboration by improving industrial capabilities and building greater value-chain resilience.' Fakhro expressed his gratitude to Qatar for the warm welcome and the organisation of the meetings. He welcomed the inclusion of Qatar and Türkiye into this industrial alliance, which has evolved into a regional economic centre that enhances industrial integration, particularly in advanced sectors such as petrochemicals, automotive, aviation, and electronics. Fakhro emphasised the Bahrain government's commitment to support manufacturers participating in this partnership by providing the necessary facilities, aligning with the Industrial Sector Strategy (2022-2026) aimed at enhancing regional industrial integration. He added, 'The commitment of countries in the alliance and quality projects developed in cooperation with the private sector reflect our firm belief in the importance of industrial integration and the development of supply chains to achieve economic diversification and increase the competitiveness of the industrial sector in the region. We encourage the private sector to seize these opportunities to expand production lines, reduce costs, and enhance the sustainability of supply chains.' Al-Qudah said, 'We are delighted with today's meeting as parties to an industrial partnership that was launched as a tripartite initiative in 2022 and has now expanded to a seven-party partnership with the accession of Qatar and Türkiye. These two enriching members add diversity in natural resources and capabilities, as well as richer ideas and strategic directions, which will allow us to come together for build a more prosperous region.' Al-Qudah added that the current challenge is to sustain and institutionalise the measures taken by member countries to recover. He outlined two crucial levels for action: first, at the national level, through economic and administrative legislation, enabling tools, and supportive regulatory structures; and second, at the regional level, by fostering economic integration that harnesses benefits to establish joint projects and facilitate trade exchange without obstacles. He concluded that these measures will contribute to a proactive approach based on strengthening economic and social resilience through both internal and external strategies. Al-Qudah said that the Jordanian government, under the guidance of His Majesty King Abdullah II bin Al-Hussein of the Hashemite Kingdom of Jordan and in partnership with the private sector, is working to empower Jordanian manufacturers. The goal is to enable them to play a more significant role in the partnership alongside their counterparts in member countries. He added, 'Our economic policies and legislation are focused on fostering collaboration with regional states. This includes the Investment Environment Law, which offers incentives and exemptions to investors, supports energy costs, accelerates procedures, and ensures equal treatment for both Jordanian and non-Jordanian investors.' Lieutenant General Al Wazir said, 'Partnership and industrial integration between our countries is no longer an option, but rather an urgent necessity to enhance our competitiveness in global markets and achieve comprehensive development.' He added, 'In a world characterised by accelerating economic, technological and geopolitical changes, cooperation among our countries is the most effective way to overcome challenges and capitalise on available opportunities in sustainable industries. These industries align with global trends and aim to reduce carbon emissions and preserve natural resources. This approach will help maximise the benefits derived from available resources and create new job opportunities, in line with each country's strategy and goals.' Mezzour said, 'The Integrated Industrial Partnership for Sustainable Economic Development embodies the ambition of our countries to enhance integration and collaboration with the goal of building a strong economic alliance. This alliance aims to ensure the security of supply chains and enhance value chains between our nations, as well as to launch industrial partnership projects with high added value.' He added, 'By unifying our efforts and investing in the potential of integration between our resources and industries, we are working to enhance competitiveness and innovation in our industrial sectors, ultimately achieving sustainable industrial growth.' Doha hosted the meetings of the Executive Committee of the Industrial Partnership for Sustainable Economic Development, where participants discussed the latest developments in ongoing projects and proposals for new projects. These discussions included collaborations with companies in various sectors, such as food, agricultural technology, minerals, chemicals, pharmaceuticals, electrical equipment, sustainability, and more. Follow Emirates 24|7 on Google News.
Mid East Info
10-02-2025
- Business
- Mid East Info
Qatar and Türkiye Join regional Integrated Industrial Partnership for Sustainable Economic Development; over $2 billion worth of new industrial projects announced
The 5th meeting of the Higher Committee commenced with the attendance of Industry Ministers from seven countries. The inclusion of Qatar and Türkiye marks a significant regional expansion, enhancing cooperation and joint investment while supporting entry into new international markets. New projects and agreements in pharmaceuticals, health foods, biotechnology and electrical industries announced, with a combined investment value exceeding $2 billion. An ambitious plan has also been launched to explore strategic opportunities and additional partnerships with new members. Companies that have significantly contributed to the partnership's goals were recognized for their key roles. HE Dr. Sultan Al Jaber: 'We are excited to witness the exceptional growth that comes with Qatar and Türkiye joining the Integrated Industrial Partnership for Sustainable Economic Development. We extend an open invitation to all countries to join our efforts in enhancing industrial development, strengthening economic relations, and fostering sustainable development in our region.' 'The new projects within the partnership represent our commitment to enhancing industrial integration and unifying expertise and capabilities. This approach will contribute to establishing a sustainable industrial base and maximizing the competitive advantages of each participating country. We anticipate a new phase and a significant leap forward with the active involvement of the industrial and investment sectors from Qatar and Türkiye.' The fifth meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development commenced on Sunday in Doha, the capital of Qatar. The meeting was attended by several key officials, including: His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology in the UAE; His Excellency Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry in the State of Qatar; Eng. Yarub Falah Al Qudah, Minister of Industry, Trade and Supply in the Hashemite Kingdom of Jordan; Lieutenant General Engineer Kamel Al Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport in the Arab Republic of Egypt; His Excellency Abdulla bin Adel Fakhro, Minister of Industry and Commerce in the Kingdom of Bahrain; His Excellency Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco; and His Excellency Mehmet Fatih Kaçir, Minister of Industry and Technology of the Republic of Türkiye. This meeting reflects the commitment of the member countries to enhance industrial cooperation and foster sustainable economic development in the region. Qatar and Türkiye join the partnership: The meetings of the Higher Committee announced the accession of Qatar and Türkiye to the Integrated Industrial Partnership for Sustainable Economic Development, increasing the number of member states to seven within just three years of the partnership's launch. This significant addition enhances the strategic development of the partnership, which originated in Abu Dhabi in 2022, and reflects the shared ambition of member countries to improve industrial integration, strengthen cooperation, and build a resilient, competitive, and sustainable economy. The inclusion of Qatar and Türkiye marks a pivotal advancement in regional industrial integration. Their accession supports the partnership's objectives for industrial growth and expansion, bringing new momentum due to Qatar's abundant natural resources and technological advancements, as well as Türkiye's robust industrial capabilities. Both countries are recognized for their strengths in various sectors, including manufacturing industries, renewable energy, textiles and ready-made garments, pharmaceutical industries, chemical fertilizers and phosphates, mining and minerals, and food industries. The Integrated Industrial Partnership for Sustainable Economic Development is particularly significant considering rapid global developments. Member countries are focused on strengthening supply chains and achieving self-sufficiency in strategic and priority industries. The accession of Türkiye and Qatar underscores the partnership's vital role in driving sustainable economic growth, innovation and competitiveness. Qatar's inclusion in the Integrated Industrial Partnership for Sustainable Economic Development represents a crucial step in promoting regional collaboration across key industries. The Qatari economy exemplifies sustainable growth, with the industrial sector accounting for 25% of its GDP, bolstered by its unique chemicals, metals, and renewable energy industries. Through its National Strategy for Manufacturing Industries (2024-2030), Qatar aims to increase the industrial sector's contribution to QAR 70.5 billion by 2030, thereby reinforcing its status as an industrial powerhouse. Türkiye stands as a leading economic force, fueled by its diversified industries and economic resilience, with a GDP exceeding USD 1.1 trillion in 2023. Its strategic location provides access to markets with over 1.3 billion consumers, complemented by free trade agreements with numerous countries, enhancing its global competitiveness. Türkiye functions as a crucial hub for global supply chains, boasting robust industrial capabilities in sectors such as automotive, food processing, textiles, metals, and advanced technologies. The inclusion of Qatar and Türkiye in the Integrated Industrial Partnership for Sustainable Economic Development underscores the partnership's progress in promoting industrial integration and creating new opportunities for all member countries. Their advanced infrastructure, investment incentives, and skilled workforce will play a significant role in strengthening the regional industrial base and enhancing the competitiveness of the seven partner countries. This expansion paves the way towards achieving sustainable economic development goals, focusing on supply chain resilience, import substitution, and job creation. During the meeting, several agreements were signed, and strategic projects valued at over USD 2 billion were announced, aimed at enhancing collaboration among member countries in critical sectors such as metals, pharmaceuticals, and plastic industries. These initiatives also prioritize the development of healthy food industries, biotechnology innovation, and advancements in electrical and high-tech industries. Key announcements included a raw material supply agreement between Bahrain Steel and Qatar, valued at USD 1.3 billion. This agreement will facilitate the supply of 5 million metric tons of raw materials over the course of five years. Additionally, a Memorandum of Understanding was signed between the UAE's ISC Capital and Bahrain's Peninsula farms to establish a sustainable microalgae production facility in the Kingdom, with an investment of USD 10 million. This project aims to advance microalgae production technology and provide industrial and medical solutions, aligning with Bahrain's Economic Vision 2030. Furthermore, it is expected to create job opportunities in areas such as research, agriculture, extraction, laboratory work, and production, contributing to the local economy and workforce development. Another significant announcement involved Egypt's Giza Cable Accessories 's plan to establish a new facility in the UAE dedicated to producing cable accessories and electrical connectors, with an investment of nearly USD 7 million. Additional agreements were finalized for the supply of PET plastic containers from Jordan's Exceed Industries and plastic caps from Egypt's Delta El Nile to UAE's Hayatna – National Dairy, each valued at USD 10 million. Furthermore, a USD 15 million agreement was signed for the supply of animal feed from the UAE's National Feed Factory (NFFM) to Qatar's Al Rayyan Horse Essentials. In the pharmaceutical sector, key agreements included a collaboration between the UAE's Globalpharma and Morocco's Zenith Pharma to manufacture, license, and transfer technology in areas such as injectable medications, biologics, and treatments for cholesterol and diabetes. This partnership, with an investment exceeding USD 50 million, aims to strengthen regional pharmaceutical security and enhance the capacity for local production of medical solutions. To enhance regional investments, the UAE's Mubadala Investment Company has announced the acquisition of two factories – Adwia Pharmaceuticals in Egypt and PHI in Morocco. This move significantly bolsters Mubadala's pharmaceutical investments on both a regional and global scale. Additionally, a MoU was signed between Morocco's Dolidol and the UAE's Intercoil. This collaboration aims to expand manufacturing capabilities for mattresses and foam production in the UAE. These new projects underscore the commitment of the member countries of the Integrated Industrial Partnership for Sustainable Economic Development to achieving sustainable economic development. They aim to accelerate economic growth, support sustainability, and enhance collaboration in economic and investment initiatives. The initiatives are expected to create new job opportunities, strengthen food and industrial security, and foster innovation across crucial and advanced industries. Collectively, these efforts represent significant strides toward establishing the region as a leading global hub for industrial investment. During the Higher Committee meetings, a comprehensive review of the partnership's achievements was conducted. His Excellency Omar Al Suwaidi, Secretary-General of the tripartite higher committee and Undersecretary of the Ministry of Industry and Advanced Technology in the UAE, presented a detailed report outlining the outcomes, which included the successful implementation of strategic projects and support for vital sectors across member countries. The meeting also provided updates on ongoing projects and discussed the future work plan, aimed at further enhancing regional cooperation and contributing to sustainable development. Member countries reviewed their competitive advantages, which include advanced infrastructure, supportive policies, and investment incentives designed for investors. They highlighted promising investment opportunities in strategic sectors, demonstrating the commitment of the partnership's countries to attract industrial investments and create a favorable investment environment that fosters regional economic integration. Four industrial companies were honored by the attending ministers for their significant contributions in supporting the the Integrated Industrial Partnership for Sustainable Economic Development: The UAE's Global Pharma and Jordan's Savvy Pharma were recognized for their outstanding efforts in pharmaceutical research and development among member countries. Emirates Steel and Bahrain Steel were acknowledged for their essential role in the supply of raw materials, as agreed in the previous Higher Committee meeting held in Bahrain in January 2024. The ministers encouraged other participating private sector companies present to follow the example set by these distinguished companies. They emphasized the importance of enhancing contributions to partnership projects and leveraging the competitive advantages provided by this initiative to promote sustainable development and advance vital sectors that benefit the member countries. HE Dr. Al Jaber began his speech by extending greetings from His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and conveying his wishes for continued success in achieving the shared goals of the partnership's countries. He emphasized that this partnership embodies a unified vision focused on enhancing sustainable economic development and strengthening complementary relations among member countries by leveraging their competitive advantages and the significant potential of the partnership. HE Dr. Al Jaber also expressed his gratitude to Qatar for hosting the fifth Higher Committee meeting and welcomed the inclusion of Qatar and Türkiye into the partnership, highlighting their roles in advancing the collective goals of the initiative. HE Dr. Al Jaber said: 'We welcome the inclusion of Qatar and Türkiye in the Integrated Industrial Partnership for Sustainable Economic Development, and we are confident that this step will bolster the common interests of all members, especially considering the industrial and economic standing of both countries. Their extensive track record of success across various sectors, particularly in the industrial field, plays a crucial role in supporting investment opportunities both regionally and globally.' His Excellency also expressed gratitude to the Executive Committee and the working teams from the member countries for their dedicated efforts in overseeing the implementation of work plans, reviewing the latest project developments, and organizing workshops for the private sector. He noted that these efforts have led to tangible progress in achieving the partnership's objectives and fostering cooperation among member countries. HE Dr. Al Jaber added: 'The Integrated Industrial Partnership for Sustainable Economic Development is a remarkable success story that began in Abu Dhabi in May 2022. It has already transformed several agreements signed during previous meetings into tangible projects that we are now witnessing come to fruition. We are pleased to observe today the announcement of several new projects and agreements in key priority sectors, valued at over USD 2 billion.' He emphasized that these projects contribute to the integration of expertise and capabilities among the partnership's countries, helping to build a sustainable common industrial base by leveraging each country's competitive advantages. Furthermore, these initiatives support supply chain resilience, reduce production costs, foster research and development, enhance the qualification of national competencies, and create thousands of job opportunities. Ultimately, they contribute to achieving the strategic goals of the partnership while fostering industrial growth and regional cooperation. HE Sheikh Al Thani said: 'The Integrated Industrial Partnership for Sustainable Economic development represents a strategic step towards enhancing industrial collaboration and integration among our countries by aligning key industrial sectors and establishing joint initiatives that contribute to improving the competitiveness and sustainability of the industrial sector.' He added: 'Qatar joining the partnership is a significant leap that reflects our strong commitment to enhancing industrial cooperation within the region. We are confident that this partnership will play a fundamental role in supporting sustainable development efforts by providing outstanding investment opportunities and fostering cooperation within the private sector. Moreover, Qatar's substantial economic potential and smart infrastructure will be instrumental in achieving the partnership's objectives and accelerating economic growth.' HE Kacır said: 'For Türkiye, strategic synergy between industrial innovation accumulated by national technology initiative, and effective global cooperation is among the key priorities. To this end, joining this partnership will not only provide strategic collaboration opportunities for our industries but also promote technological advancement and create new endeavors for sustainable economic development in our region. I believe this partnership will serve as a catalyst for enhancing regional collaboration by improving industrial capabilities and building greater value-chain resilience.' HE Fakhro expressed his gratitude to Qatar for the warm welcome and the organization of the meetings. He welcomed the inclusion of Qatar and Türkiye into this industrial alliance, which has evolved into a regional economic center that enhances industrial integration, particularly in advanced sectors such as petrochemicals, automotive, aviation, and electronics. Fakhro emphasized the Bahrain government's commitment to support manufacturers participating in this partnership by providing the necessary facilities, aligning with the Industrial Sector Strategy (2022-2026) aimed at enhancing regional industrial integration. He added: 'The commitment of countries in the alliance and quality projects developed in cooperation with the private sector reflect our firm belief in the importance of industrial integration and the development of supply chains to achieve economic diversification and increase the competitiveness of the industrial sector in the region. We encourage the private sector to seize these opportunities to expand production lines, reduce costs, and enhance the sustainability of supply chains.' HE Al-Qudah said: 'We are delighted with today's meeting as parties to an industrial partnership that was launched as a tripartite initiative in 2022 and has now expanded to a seven-party partnership with the accession of Qatar and Türkiye. These two enriching members add diversity in natural resources and capabilities, as well as richer ideas and strategic directions, which will allow us to come together for build a more prosperous region.' HE Al-Qudah added that the current challenge is to sustain and institutionalize the measures taken by member countries to recover. He outlined two crucial levels for action: first, at the national level, through economic and administrative legislation, enabling tools, and supportive regulatory structures; and second, at the regional level, by fostering economic integration that harnesses benefits to establish joint projects and facilitate trade exchange without obstacles. He concluded that these measures will contribute to a proactive approach based on strengthening economic and social resilience through both internal and external strategies. HE Al-Qudah said that the Jordanian government, under the guidance of His Majesty King Abdullah II bin Al-Hussein of the Hashemite Kingdom of Jordan and in partnership with the private sector, is working to empower Jordanian manufacturers. The goal is to enable them to play a more significant role in the partnership alongside their counterparts in member countries. He added: 'Our economic policies and legislation are focused on fostering collaboration with regional states. This includes the Investment Environment Law, which offers incentives and exemptions to investors, supports energy costs, accelerates procedures, and ensures equal treatment for both Jordanian and non-Jordanian investors.' HE Lieutenant General Al Wazir said: 'Partnership and industrial integration between our countries is no longer an option, but rather an urgent necessity to enhance our competitiveness in global markets and achieve comprehensive development.' He added: 'In a world characterized by accelerating economic, technological and geopolitical changes, cooperation among our countries is the most effective way to overcome challenges and capitalize on available opportunities in sustainable industries. These industries align with global trends and aim to reduce carbon emissions and preserve natural resources. This approach will help maximize the benefits derived from available resources and create new job opportunities, in line with each country's strategy and goals.' HE Mezzour said: 'The Integrated Industrial Partnership for Sustainable Economic Development embodies the ambition of our countries to enhance integration and collaboration with the goal of building a strong economic alliance. This alliance aims to ensure the security of supply chains and enhance value chains between our nations, as well as to launch industrial partnership projects with high added value.' He added: 'By unifying our efforts and investing in the potential of integration between our resources and industries, we are working to enhance competitiveness and innovation in our industrial sectors, ultimately achieving sustainable industrial growth.' Executive Committee Meetings: Doha hosted the meetings of the Executive Committee of the Industrial Partnership for Sustainable Economic Development, where participants discussed the latest developments in ongoing projects and proposals for new projects. These discussions included collaborations with companies in various sectors, such as food, agricultural technology, minerals, chemicals, pharmaceuticals, electrical equipment, sustainability, and more.
Zawya
10-02-2025
- Business
- Zawya
Qatar and Türkiye join regional integrated industrial partnership for sustainable economic development
The inclusion of Qatar and Türkiye marks a significant regional expansion, enhancing cooperation and joint investment while supporting entry into new international markets. New projects and agreements in pharmaceuticals, health foods, biotechnology and electrical industries announced, with a combined investment value exceeding $2 billion. An ambitious plan has also been launched to explore strategic opportunities and additional partnerships with new members. Companies that have significantly contributed to the partnership's goals were recognized for their key roles. HE Dr. Sultan Al Jaber: 'We are excited to witness the exceptional growth that comes with Qatar and Türkiye joining the Integrated Industrial Partnership for Sustainable Economic Development. We extend an open invitation to all countries to join our efforts in enhancing industrial development, strengthening economic relations, and fostering sustainable development in our region.' 'The new projects within the partnership represent our commitment to enhancing industrial integration and unifying expertise and capabilities. This approach will contribute to establishing a sustainable industrial base and maximizing the competitive advantages of each participating country. We anticipate a new phase and a significant leap forward with the active involvement of the industrial and investment sectors from Qatar and Türkiye.' Doha-Qatar: The fifth meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development commenced on Sunday in Doha, the capital of Qatar. The meeting was attended by several key officials, including: His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology in the UAE; His Excellency Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry in the State of Qatar; Eng. Yarub Falah Al Qudah, Minister of Industry, Trade and Supply in the Hashemite Kingdom of Jordan; Lieutenant General Engineer Kamel Al Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport in the Arab Republic of Egypt; His Excellency Abdulla bin Adel Fakhro, Minister of Industry and Commerce in the Kingdom of Bahrain; His Excellency Ryad Mezzour, Minister of Industry and Trade of the Kingdom of Morocco; and His Excellency Mehmet Fatih Kaçir, Minister of Industry and Technology of the Republic of Türkiye. This meeting reflects the commitment of the member countries to enhance industrial cooperation and foster sustainable economic development in the region. Qatar and Türkiye join the partnership The meetings of the Higher Committee announced the accession of Qatar and Türkiye to the Integrated Industrial Partnership for Sustainable Economic Development, increasing the number of member states to seven within just three years of the partnership's launch. This significant addition enhances the strategic development of the partnership, which originated in Abu Dhabi in 2022, and reflects the shared ambition of member countries to improve industrial integration, strengthen cooperation, and build a resilient, competitive, and sustainable economy. The inclusion of Qatar and Türkiye marks a pivotal advancement in regional industrial integration. Their accession supports the partnership's objectives for industrial growth and expansion, bringing new momentum due to Qatar's abundant natural resources and technological advancements, as well as Türkiye's robust industrial capabilities. Both countries are recognized for their strengths in various sectors, including manufacturing industries, renewable energy, textiles and ready-made garments, pharmaceutical industries, chemical fertilizers and phosphates, mining and minerals, and food industries. The Integrated Industrial Partnership for Sustainable Economic Development is particularly significant considering rapid global developments. Member countries are focused on strengthening supply chains and achieving self-sufficiency in strategic and priority industries. The accession of Türkiye and Qatar underscores the partnership's vital role in driving sustainable economic growth, innovation and competitiveness. Qatar's inclusion in the Integrated Industrial Partnership for Sustainable Economic Development represents a crucial step in promoting regional collaboration across key industries. The Qatari economy exemplifies sustainable growth, with the industrial sector accounting for 25% of its GDP, bolstered by its unique chemicals, metals, and renewable energy industries. Through its National Strategy for Manufacturing Industries (2024-2030), Qatar aims to increase the industrial sector's contribution to QAR 70.5 billion by 2030, thereby reinforcing its status as an industrial powerhouse. Türkiye stands as a leading economic force, fueled by its diversified industries and economic resilience, with a GDP exceeding USD 1.1 trillion in 2023. Its strategic location provides access to markets with over 1.3 billion consumers, complemented by free trade agreements with numerous countries, enhancing its global competitiveness. Türkiye functions as a crucial hub for global supply chains, boasting robust industrial capabilities in sectors such as automotive, food processing, textiles, metals, and advanced technologies. The inclusion of Qatar and Türkiye in the Integrated Industrial Partnership for Sustainable Economic Development underscores the partnership's progress in promoting industrial integration and creating new opportunities for all member countries. Their advanced infrastructure, investment incentives, and skilled workforce will play a significant role in strengthening the regional industrial base and enhancing the competitiveness of the seven partner countries. This expansion paves the way towards achieving sustainable economic development goals, focusing on supply chain resilience, import substitution, and job creation. During the meeting, several agreements were signed, and strategic projects valued at over USD 2 billion were announced, aimed at enhancing collaboration among member countries in critical sectors such as metals, pharmaceuticals, and plastic industries. These initiatives also prioritize the development of healthy food industries, biotechnology innovation, and advancements in electrical and high-tech industries. Key announcements included a raw material supply agreement between Bahrain Steel and Qatar, valued at USD 1.3 billion. This agreement will facilitate the supply of 5 million metric tons of raw materials over the course of five years. Additionally, a Memorandum of Understanding was signed between the UAE's ISC Capital and Bahrain's Peninsula farms to establish a sustainable microalgae production facility in the Kingdom, with an investment of USD 10 million. This project aims to advance microalgae production technology and provide industrial and medical solutions, aligning with Bahrain's Economic Vision 2030. Furthermore, it is expected to create job opportunities in areas such as research, agriculture, extraction, laboratory work, and production, contributing to the local economy and workforce development. Another significant announcement involved Egypt's Giza Cable Accessories 's plan to establish a new facility in the UAE dedicated to producing cable accessories and electrical connectors, with an investment of nearly USD 7 million. Additional agreements were finalized for the supply of PET plastic containers from Jordan's Exceed Industries and plastic caps from Egypt's Delta El Nile to UAE's Hayatna - National Dairy, each valued at USD 10 million. Furthermore, a USD 15 million agreement was signed for the supply of animal feed from the UAE's National Feed Factory (NFFM) to Qatar's Al Rayyan Horse Essentials. In the pharmaceutical sector, key agreements included a collaboration between the UAE's Globalpharma and Morocco's Zenith Pharma to manufacture, license, and transfer technology in areas such as injectable medications, biologics, and treatments for cholesterol and diabetes. This partnership, with an investment exceeding USD 50 million, aims to strengthen regional pharmaceutical security and enhance the capacity for local production of medical solutions. To enhance regional investments, the UAE's Mubadala Investment Company has announced the acquisition of two factories – Adwia Pharmaceuticals in Egypt and PHI in Morocco. This move significantly bolsters Mubadala's pharmaceutical investments on both a regional and global scale. Additionally, a MoU was signed between Morocco's Dolidol and the UAE's Intercoil. This collaboration aims to expand manufacturing capabilities for mattresses and foam production in the UAE. These new projects underscore the commitment of the member countries of the Integrated Industrial Partnership for Sustainable Economic Development to achieving sustainable economic development. They aim to accelerate economic growth, support sustainability, and enhance collaboration in economic and investment initiatives. The initiatives are expected to create new job opportunities, strengthen food and industrial security, and foster innovation across crucial and advanced industries. Collectively, these efforts represent significant strides toward establishing the region as a leading global hub for industrial investment. During the Higher Committee meetings, a comprehensive review of the partnership's achievements was conducted. His Excellency Omar Al Suwaidi, Secretary-General of the tripartite higher committee and Undersecretary of the Ministry of Industry and Advanced Technology in the UAE, presented a detailed report outlining the outcomes, which included the successful implementation of strategic projects and support for vital sectors across member countries. The meeting also provided updates on ongoing projects and discussed the future work plan, aimed at further enhancing regional cooperation and contributing to sustainable development. Member countries reviewed their competitive advantages, which include advanced infrastructure, supportive policies, and investment incentives designed for investors. They highlighted promising investment opportunities in strategic sectors, demonstrating the commitment of the partnership's countries to attract industrial investments and create a favorable investment environment that fosters regional economic integration. Four industrial companies were honored by the attending ministers for their significant contributions in supporting the the Integrated Industrial Partnership for Sustainable Economic Development: The UAE's Global Pharma and Jordan's Savvy Pharma were recognized for their outstanding efforts in pharmaceutical research and development among member countries. Emirates Steel and Bahrain Steel were acknowledged for their essential role in the supply of raw materials, as agreed in the previous Higher Committee meeting held in Bahrain in January 2024. The ministers encouraged other participating private sector companies present to follow the example set by these distinguished companies. They emphasized the importance of enhancing contributions to partnership projects and leveraging the competitive advantages provided by this initiative to promote sustainable development and advance vital sectors that benefit the member countries. HE Dr. Al Jaber began his speech by extending greetings from His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and conveying his wishes for continued success in achieving the shared goals of the partnership's countries. He emphasized that this partnership embodies a unified vision focused on enhancing sustainable economic development and strengthening complementary relations among member countries by leveraging their competitive advantages and the significant potential of the partnership. HE Dr. Al Jaber also expressed his gratitude to Qatar for hosting the fifth Higher Committee meeting and welcomed the inclusion of Qatar and Türkiye into the partnership, highlighting their roles in advancing the collective goals of the initiative. HE Dr. Al Jaber said: 'We welcome the inclusion of Qatar and Türkiye in the Integrated Industrial Partnership for Sustainable Economic Development, and we are confident that this step will bolster the common interests of all members, especially considering the industrial and economic standing of both countries. Their extensive track record of success across various sectors, particularly in the industrial field, plays a crucial role in supporting investment opportunities both regionally and globally.' His Excellency also expressed gratitude to the Executive Committee and the working teams from the member countries for their dedicated efforts in overseeing the implementation of work plans, reviewing the latest project developments, and organizing workshops for the private sector. He noted that these efforts have led to tangible progress in achieving the partnership's objectives and fostering cooperation among member countries. HE Dr. Al Jaber added: 'The Integrated Industrial Partnership for Sustainable Economic Development is a remarkable success story that began in Abu Dhabi in May 2022. It has already transformed several agreements signed during previous meetings into tangible projects that we are now witnessing come to fruition. We are pleased to observe today the announcement of several new projects and agreements in key priority sectors, valued at over USD 2 billion.' He emphasized that these projects contribute to the integration of expertise and capabilities among the partnership's countries, helping to build a sustainable common industrial base by leveraging each country's competitive advantages. Furthermore, these initiatives support supply chain resilience, reduce production costs, foster research and development, enhance the qualification of national competencies, and create thousands of job opportunities. Ultimately, they contribute to achieving the strategic goals of the partnership while fostering industrial growth and regional cooperation. HE Sheikh Al Thani said: 'The Integrated Industrial Partnership for Sustainable Economic development represents a strategic step towards enhancing industrial collaboration and integration among our countries by aligning key industrial sectors and establishing joint initiatives that contribute to improving the competitiveness and sustainability of the industrial sector.' He added: 'Qatar joining the partnership is a significant leap that reflects our strong commitment to enhancing industrial cooperation within the region. We are confident that this partnership will play a fundamental role in supporting sustainable development efforts by providing outstanding investment opportunities and fostering cooperation within the private sector. Moreover, Qatar's substantial economic potential and smart infrastructure will be instrumental in achieving the partnership's objectives and accelerating economic growth.' HE Kacır said: 'For Türkiye, strategic synergy between industrial innovation accumulated by national technology initiative, and effective global cooperation is among the key priorities. To this end, joining this partnership will not only provide strategic collaboration opportunities for our industries but also promote technological advancement and create new endeavors for sustainable economic development in our region. I believe this partnership will serve as a catalyst for enhancing regional collaboration by improving industrial capabilities and building greater value-chain resilience.' HE Fakhro expressed his gratitude to Qatar for the warm welcome and the organization of the meetings. He welcomed the inclusion of Qatar and Türkiye into this industrial alliance, which has evolved into a regional economic center that enhances industrial integration, particularly in advanced sectors such as petrochemicals, automotive, aviation, and electronics. Fakhro emphasized the Bahrain government's commitment to support manufacturers participating in this partnership by providing the necessary facilities, aligning with the Industrial Sector Strategy (2022-2026) aimed at enhancing regional industrial integration. He added: 'The commitment of countries in the alliance and quality projects developed in cooperation with the private sector reflect our firm belief in the importance of industrial integration and the development of supply chains to achieve economic diversification and increase the competitiveness of the industrial sector in the region. We encourage the private sector to seize these opportunities to expand production lines, reduce costs, and enhance the sustainability of supply chains.' HE Al-Qudah said: 'We are delighted with today's meeting as parties to an industrial partnership that was launched as a tripartite initiative in 2022 and has now expanded to a seven-party partnership with the accession of Qatar and Türkiye. These two enriching members add diversity in natural resources and capabilities, as well as richer ideas and strategic directions, which will allow us to come together for build a more prosperous region.' HE Al-Qudah added that the current challenge is to sustain and institutionalize the measures taken by member countries to recover. He outlined two crucial levels for action: first, at the national level, through economic and administrative legislation, enabling tools, and supportive regulatory structures; and second, at the regional level, by fostering economic integration that harnesses benefits to establish joint projects and facilitate trade exchange without obstacles. He concluded that these measures will contribute to a proactive approach based on strengthening economic and social resilience through both internal and external strategies. HE Al-Qudah said that the Jordanian government, under the guidance of His Majesty King Abdullah II bin Al-Hussein of the Hashemite Kingdom of Jordan and in partnership with the private sector, is working to empower Jordanian manufacturers. The goal is to enable them to play a more significant role in the partnership alongside their counterparts in member countries. He added: 'Our economic policies and legislation are focused on fostering collaboration with regional states. This includes the Investment Environment Law, which offers incentives and exemptions to investors, supports energy costs, accelerates procedures, and ensures equal treatment for both Jordanian and non-Jordanian investors.' HE Lieutenant General Al Wazir said: 'Partnership and industrial integration between our countries is no longer an option, but rather an urgent necessity to enhance our competitiveness in global markets and achieve comprehensive development.' He added: 'In a world characterized by accelerating economic, technological and geopolitical changes, cooperation among our countries is the most effective way to overcome challenges and capitalize on available opportunities in sustainable industries. These industries align with global trends and aim to reduce carbon emissions and preserve natural resources. This approach will help maximize the benefits derived from available resources and create new job opportunities, in line with each country's strategy and goals.' HE Mezzour said: 'The Integrated Industrial Partnership for Sustainable Economic Development embodies the ambition of our countries to enhance integration and collaboration with the goal of building a strong economic alliance. This alliance aims to ensure the security of supply chains and enhance value chains between our nations, as well as to launch industrial partnership projects with high added value.' He added: 'By unifying our efforts and investing in the potential of integration between our resources and industries, we are working to enhance competitiveness and innovation in our industrial sectors, ultimately achieving sustainable industrial growth.' Executive Committee Meetings Doha hosted the meetings of the Executive Committee of the Industrial Partnership for Sustainable Economic Development, where participants discussed the latest developments in ongoing projects and proposals for new projects. These discussions included collaborations with companies in various sectors, such as food, agricultural technology, minerals, chemicals, pharmaceuticals, electrical equipment, sustainability, and more.
