Madbouly: The tripartite cooperation document is a realistic embodiment of the goal of Arab economic integration

Mohamed Antar

Posted on: Sunday, 29 May 2022 – 11:16 | Last updated: Sunday 29 May 2022 – 11:16 am

Prime Minister: The tripartite cooperation document can change unfavorable global conditions from a precarious state to an award
Prime Minister Dr. Mostafa Madbouly took part in the tripartite meeting this morning to launch the Integrated Industrial Partnership Initiative for Sustainable Economic Development between Egypt, the United Arab Emirates and the Hashemite Kingdom of Jordan, held at the ADNOC Business Center in the UAE capital. Abu Dhabi, in the presence of Dr. Bishr Al-Khasawneh, The Prime Minister of Jordan, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates, and officials of the three countries.
Dr. Mostafa Madbouly delivered a speech during the meeting, beginning by expressing his congratulations on his presence today on the land of the sister United Arab Emirates, at the head of a high-level ministerial delegation. He reiterated his congratulations to the sister emirates on the occasion of the election of the Supreme Council of the Union of Arab Emirates, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State.
The Prime Minister also congratulated Brotherly Jordan on the 76th anniversary of independence, which took place four days ago, and wished the two Brotherhoods continued progress and prosperity.
Dr. Speaking during his speech, Mostafa Madbouly said: “Today we meet at an important moment, which represents a milestone in the history of joint Arab cooperation. With the grace and success of God, we will soon witness the signing of the tripartite cooperation document , within the framework of the Integrated Industrial Partnership Initiative for Sustainable Economic Development, an initiative that emerged during the important meeting of His Excellency President Abdel Fattah Al-Sisi, President of the Arab Republic of Egypt, and his two brothers , His Majesty King Abdullah II bin Al Hussein, King of the Hashemite Kingdom of Jordan, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, in Cairo during past Ramadan.
The Prime Minister emphasized that the signing of the Tripartite Cooperation Document today represents a realistic embodiment, and a practical implementation, of an important and crucial goal for all of us, which is the pursuit of Arab economic integration, and explains that this goal was strongly present. in the minds of the founding fathers of the League of Arab States since the 1940s. Where Article 2, paragraph “a” of the League’s Charter provides that “one of the objectives is that the participating countries cooperate closely in economic and financial matters, including trade exchange, and matters of agriculture and industry.”
Dr. Mostafa Madbouly added that this step is an inspiring model for how to make optimal use of the unfavorable economic and geopolitical conditions that prevail in the world, and to transform these conditions from a fate that plagues us, into an award and an opportunity that we strive to seize, and in which we look forward to achieving a goal for which we have always been cherished. For decades, he said, “I mean here the promotion of integration, interdependence and interdependence between the economies of Arab countries.”
The Prime Minister has made it clear that the tripartite cooperation document that will be signed today will raise the bar of hope and ambition, not only for the people of our three countries, but also for all the Arab peoples who are striving for real economic integration. and cooperation between the Arab countries .. Cooperation in line with the fact that the Arabs were seeking Unity and integration, it was before and before the pursuit of the rest of the great economic blocks that fill the horizon in our contemporary world.
Dr. Speaking during his speech, Mostafa Madbouly said: “I remind myself, and I remind all the brothers responsible for implementing the tripartite cooperation document, that there is a lot of hard work, tireless and unconventional work that we have to do during the coming period. , in order to expedite and accurately implement the initiative’s projects. ” According to specific timetables, to grow and prosper and to be as desired and desired by our leaders in the three countries.
In this context, the Prime Minister expressed his sincere thanks to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the sister United Arab Emirates, for instructing His Excellency to establish an investment fund managed by ADQ Holding Company with investments of $ 10 billion. , to implement these projects.
Dr. Mostafa Madbouly reviewed the most prominent features of the progress that has taken place in Egypt over the past five years, especially in the industrial and food security sector, which represents an important axis of the integration process, and indicated that Egypt is interested in sustainable development strategy Egypt 2030, which focuses on achieving a major breakthrough in several areas, the most important of which are infrastructure, the economy, and in addition the sectors of industry, agriculture and communications.
He explained that Egypt, in spite of all the global crises, including the Corona pandemic, has made a huge leap in this sector over the past three years, as 50,000 new operating licenses have been granted to established factories. has been during the past five years, which has allowed an average of about 50 jobs in each factory, with a total of 2.5 million jobs created in the industrial sector over the past five years.
He pointed out that the non-oil export sector in Egypt could also achieve a growth of more than 20% in the year 2021 despite the “Corona” pandemic, which led to this sector, the non-oil export sector, exports achieved. worth more than $ 32 billion during the year 2020/2021, and also despite the current world crisis, Egyptian non-oil exports grew by 21% in the first three months of 2022, increasing the strength and sustainability of the industrial sector reaffirmed in Egypt and the Egyptian economy and its ability to resist despite these crises.
He added that despite all these crises, Egypt’s economy is expected to grow by 6.2% during the fiscal year 2021/2022, making it one of the best economies in terms of growth rates at this stage. .
He said: Based on the government’s zeal to facilitate and accelerate all industrial and development projects, a few weeks ago we announced a package of tax and non-tax incentives that will increase the attractiveness of the Egyptian economy to attracting foreign direct investment, especially in the new and renewable energy sectors, and green energy And integrated and advanced industries, such as information technology industries, and perhaps the most prominent proof of this is that the Egyptian government has signed 6 memoranda of understanding in recent weeks with major global alliances to produce green hydrogen and green ammonia in Egypt in the coming period.
The Prime Minister concluded his speech by thanking the brothers in the United Arab Emirates and appreciating them for their generous presentation of the expert meetings that took place last week, as well as for hosting our meetings over the past two days. delegations of experts from the three countries, whose discussions have contributed to consensus across the sectors.Which will be implemented as a priority, as well as agreement on the rest of the sectors that will be implemented in turn, calling on God Almighty to reconcile everyone with what is good and prosperity for our people and the people of all Arab countries.

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