The committee’s membership includes the Kingdom of Bahrain, the Hashemite Kingdom of Jordan, the United Arab Emirates, the Arab Republic of Egypt, and the Kingdom of Morocco.
This alliance aims to create a regional economic and industrial nucleus capable of facing common challenges and global crises and enhancing the economic sovereignty of the five countries, especially in vital sectors including food, health, energy and industry.
It also aims to achieve qualitative and sustainable growth in the industrial sector, through integration of resources and industries, and benefiting from the competitive advantages in each member state through concerted efforts and teamwork, which contributes to reducing production costs, securing supply chains, and creating more job opportunities. Achieving sustainable economic development, self-sufficiency, and enhancing growth and industrial competitiveness.
Morocco’s accession to this industrial partnership is part of the enlightened vision of His Majesty King Mohammed VI, may God assist him, which aims to enhance economic cooperation with the countries of the region and strengthen the sustainable economic development of the member countries of this alliance. It is also a qualitative step in the process of regional growth and industrial integration, given the economic growth and industrial achievements of the Kingdom, especially in the automobile industries, renewable energies, food industries, aviation, textile, pharmaceutical industries, electrical and electronic industries, phosphate and mining industries.
In a speech during this meeting, the Minister of Industry and Trade, Riad Mazour, stressed that this initiative came “as an embodiment of the desire of the leaders of our countries to extend bridges of integration and cooperation to build strong economic blocs to achieve sustainable development,” adding that this initiative is of great importance more than ever before, especially in light of The circumstances that the world is experiencing and the transformations that global value chains have witnessed are something that requires us to combine efforts, synergize, and develop new partnerships to confront the stakes of sovereignty in various vital sectors, raise the challenges of sufficiency in basic products, and enhance competitiveness and innovation.
After highlighting the Kingdom’s full support for the endeavors of this partnership and the special attention it pays in order to seriously engage in it to achieve the aspirations of its people, Mr. Mazur said that this initiative will constitute an occasion to introduce the investment opportunities that abound in the initiative countries. It will also inevitably contribute to demonstrating the potential and qualifications of their economies and help link Relationships between businessmen in order to achieve results that constitute a locomotive for joint economic development.
He continued that the role of government sectors will be to motivate the private sector to engage in dialogue and conclude partnerships aimed at developing productive capabilities and creating joint projects based on benefiting from the resources of our countries and taking into account the economic and industrial specificities of the region, with the aim of building a strong industrial sector capable of competing globally.
In this context, the Minister stated that, over the past twenty years, thanks to the visionary vision of His Majesty King Mohammed VI, Morocco has made great efforts to provide the basic components to support and attract internal and external investment and motivate investors to choose the Kingdom as an excellent destination for their investments.
He said that among these components is the Kingdom’s distinguished geographical location as a gateway to Africa, in addition to its proximity to the economic poles, especially Europe and America.
He continued that Morocco has worked to provide a stable political environment suitable for investment due to the wise leadership of His Majesty the King, as the Kingdom has incentives and supports to encourage investments, and macro-economic indicators have also helped, which is represented in particular in recording a doubling of the gross domestic product three times in twenty years and continuous control of the inflation rate. The high value of direct foreign investments makes Morocco a platform for manufacturing and export.
This has contributed, the Minister adds, to world-class infrastructure, such as the port of Tangier Med, which is the first platform for transshipping containers in the Mediterranean and Africa, and Al-Buraq, the first high-speed train in Africa, and the development of industrial zones with international specifications distributed throughout Morocco, in addition to Renewable energy projects, which are considered gains to enhance partnership and investment opportunities and deepen coordination, cooperation and industrial integration between our countries.
Morocco has also adopted ambitious sector strategies and various initiatives and plans based on effective and productive partnership between the public and private sectors in order to facilitate investment in the sectors concerned. These strategies include voluntary, integrated and dynamic sector offers that are in line with the economic environment and the qualitative boom that Morocco is experiencing.
The Minister concluded that Morocco was able to develop exports to new and promising markets of more than two billion consumers by signing many free trade agreements with various countries of the world, especially the partnership with the European Union countries and the free trade agreement with the United States of America, considering that the African market is important. It provides important investment and trade opportunities within the African Continental Free Trade Area.
Mr. Abdullah bin Adel Fakhro, Minister of Industry and Trade of the Kingdom of Bahrain, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates, Mr. Yousef Al-Shamali, Minister of Industry, Trade, Supply and Labor of the Hashemite Kingdom of Jordan, and Engineer Ahmed Samir, Minister of Trade and Industry of the Republic of Jordan, participated in this meeting. The Arabian Egypt.
The ceremony announcing Morocco’s accession to the Integrated Industrial Partnership culminated in the signing of a number of agreements and the announcement of a number of integrated industrial projects between member states.
It is worth noting that the integrated industrial partnership for sustainable economic development was launched in the Emirati capital, Abu Dhabi, in May 2022, with the participation of the United Arab Emirates, the Arab Republic of Egypt and the Hashemite Kingdom of Jordan, while the Kingdom of Bahrain joined during the second meetings of the Higher Committee for Partnership in Cairo in July of the year. 2022, and the partnership aims to integrate regional efforts and benefit from the qualitative competitive advantages and great potential enjoyed by member states, to achieve economic and social goals through integrated industrial cooperation.