Al-Shamali: Jordan plays a crucial role in the region | Money and business | zad jordan news

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The Minister of Industry, Trade and Supply Youssef Al-Shamali said that “the integrated industrial partnership for sustainable economic development between Jordan, the UAE and Egypt came as a result of the summit convened by His Majesty King Abdullah II, Egyptian President Abdel “Fattah Al-Sisi and the President of the UAE, His Highness Sheikh Mohammed bin Zayed Al Nahyan, during the holy month of Ramadan.”

And Al-Shamali, during his presentation on the Jordan TV / Sixty Minutes program today, Friday, added that the partnership came as a reflection of the strength of bilateral relations between the three fraternities and the tireless efforts of their leadership to cooperation in various fields, especially the economy.

He added that the partnership aims to achieve sustainable economic development in continuing and strengthening these fraternal relations, and it establishes an unprecedented cooperation between the three countries and will establish an advanced model for Arab-Arab economic cooperation.

Al-Shamali added: “This partnership between the three countries is an opportunity to continue exploring partnership and investment opportunities in an effort to deepen coordination, cooperation and strategic integration between the three fraternal countries. Given the importance “From the role that industry plays in the economic development process, this cooperation has become a basis for growth in the light of the capabilities of our countries.” In this area ”.

He pointed out that this partnership is a pioneering model in the region and is aimed at strengthening Arab relations, achieving sustainable economic development, ensuring supply chains, achieving self-sufficiency, locating industry, integrating value chains, integrating value-added industries. support and promote, support economic development, economic diversification and create jobs. Improving food security Regarding the role of partnership in strengthening food security cooperation between the three countries, as it is currently the most urgent and sensitive, the Minister of Industry, Trade and Supply said that this issue is indeed very important and one of the most pressing and sensitive issues at world level in general, especially in the light of the consequences The Corona pandemic, the Russo-Ukrainian crisis, climate change and other factors have raised the level of international concern about food security.

He added that one of the cornerstones of the initiative is co-operation in the field of food security through joint efforts to improve it in the three countries and to develop and implement plans and mechanisms needed to meet current and future challenges. offer.

Al-Shamali said: “We have an opportunity, as the three countries, to increase wheat and maize production in the three countries from 16.5 million tonnes to about 30 million tonnes annually.” He added: “In Jordan, food security has always been at the forefront of the government’s attention in implementing the orders of His Majesty the King. More than one axis is currently being worked on by the competent and relevant authorities to strengthen it. “According to the royal vision, Jordan will become a regional center for food security.”

He added: “So there are many opportunities and possibilities for the three countries to strengthen food security, and from here on, one of the priorities of the initiative’s work is in this axis.” The investment fund and the implications of integration and about the $ 10 billion partnership investment fund allocated to it, Al Shamali said that this fund was announced by the UAE Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber in collaboration with the signing of the initiative and its announcement in Abu Dhabi, a confirmation of the commitment of all efforts and the provision of the necessary conditions for its success.The UAE Holding Company (ADQ) will manage the $ 10 billion fund to invest in projects resulting from this partnership in the agreed sectors emerge.

The minister spoke about data, figures and indications of tripartite integration, the most important of which is the presence of a large market, where the three countries make up 26% of the population in the Middle East and North Africa. The combined capacity of the three countries according to the North is about 22% of the GDP of the Middle East and North Africa region, about $ 765 billion, according to World Bank statistics in 2019, which is 22% of the GDP of the Middle East and North Africa, and representing 21% of the industrial sector of the Middle East and North Africa region.

He said: The total trade between the three countries amounts to 6 billion dollars, and the trade bloc of the three countries ranks 14th in terms of the value of exports with the world, with a value of 419 billion dollars, of which 55 billion dollars is industrial exports and imports at $ 380 billion, and the contribution of the industrial sector is $ 85 billion in the three countries. Foreign direct investment in new projects between 2016 and 2020 from the rest of the world in the UAE, Egypt and Jordan is $ 148 billion.

The Minister of Industry, Trade and Supply pointed out that the three countries are distinguished by the availability of advanced logistics infrastructure, in particular the network of UAE sea, land and airports, including, for example, Jebel Ali Port, which is the first in the world in terms of volume and trade flow in the Middle East and North Africa.

In Jordan, for example, there is the Aqaba Container Terminal, which is strategically located at the crossroads of 3 continents and 5 countries, and in Egypt, for example, the Suez Canal, through which 13% of world trade flows. Among the elements and indications of integration, Al-Shamali said, the availability of qualified, specialized and young manpower and the availability of raw materials and industrial raw materials, and we also talk about strengths related to the availability of financing solutions and the presence of national companies with clear capabilities in the main focus areas of the partnership and others. areas of integration.

Al-Shamali said the areas of integration included in the partnership are integration in the fields of agriculture, food and fertilizers, as the three countries hold important benefits in the fields of agriculture, food and fertilizers from raw materials and various wealth, amongst other things .

He also referred to the integration into the pharmaceutical sector, where it is possible to take advantage of chemical inputs, manufacturing capabilities, modern logistics, skilled labor and access to the global market to expand the production of alternative medicines and active ingredients, and the importance of expanding the production of alternative medicine in Egypt, Jordan and the UAE. The partnership also includes integration in the chemical sector, which is one of the areas of integration by taking advantage of low-carbon energy sources and petrochemical complexes and their derivatives to develop the sectors of conversion, installation and supply of primary raw materials into keys sectors such as agriculture, fertilizers, textiles, pharmaceuticals and investment.

Regarding the integration in the mineral sector, Al-Shamali said that this sector is one of the areas of integration to benefit from minerals, mineral resources, sustainable competitive energy and pioneering technology, to enhance finished value-added products. This sector offers opportunities for projects worth $ 23 billion through the manufacture of high-value products such as: glass, electrical wires, automotive components and solar panels. The contribution of the petrochemical industry to the GDP in Jordan, the UAE and Egypt is $ 16 billion. There is a promising opportunity for the development of this sector and its related industries, worth more than $ 21 billion. Implementing the partnership Yesterday, the first meeting of the Ministers of Industry in the three countries was held, and a number of topics were discussed that are necessary to implement the partnership, identify sectoral groups and entrust the Executive Committee with the Deputy Secretaries. of the Ministries of Industry in the three countries to lay the foundations and action plans for the sectors’ working groups for the five areas on which the initiative is concerned in the short term. They are agriculture, food, fertilizer, pharmaceuticals, textiles, metals, chemicals and plastics. The importance of accelerating the procedures for implementing the partnership was emphasized to serve the interests of the three fraternal countries and to contribute to the strengthening of economic cooperation among them, with the mandate of the Executive Committee to during the following week meet to draw up a roadmap for the next phase and a mechanism for the integration and networking of the private sector in the three countries among themselves in the areas identified with the launch of Partnership. We will work with the utmost energy to maximize the benefit from it and to have direct repercussions on the economies of Jordan, Egypt and the UAE, and all will see an economic improvement affecting living standards.

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