Prime Minister of Egypt, witnesses a signing ceremony in Cairo welcoming Bahrain into Industrial Partnership for Sustainable Economic Growth

Cairo, The Gulf Observer: Mostafa Kamal Madbouly, Prime Minister of Egypt, witnessed a signing ceremony today in Cairo that welcomed Bahrain as the fourth country to join the Industrial Partnership for Sustainable Economic Development, which includes the UAE, Jordan, and Egypt.

The ceremony took place during a second meeting of the partnership’s Higher Committee.

The agreement was signed by Dr. Nevin Gamea, Egyptian Minister of Trade and Industry; Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Yousef Al Shamali, Jordanian Minister of Industry, Trade and Supply; and Zayed Al Zayani, Minister of Industry, Commerce and Tourism of Bahrain.

The Industrial Partnership for Sustainable Economic Development was announced in the UAE on 29th May, 2022, with an aim to empower their industrial sector and its contribution to the national GDP by establishing large joint industrial projects, providing private sector companies with opportunities for expansion, creating job opportunities, contributing to economic development, diversifying the economies of partner countries, supporting industrial production and increasing exports and safeguarding supply chains.

The addition of Bahrain will positively impact the partnership through the strength of its industrial sector. The Kingdom is particularly prominent in oil and gas, aluminum, iron ore, petrochemicals, plastics, food processing, textiles, and engineering. The country’s competitive advantages include an advanced communication, technology and transportation infrastructure, and other enablers and incentives.

Earlier in the day, 12 projects worth US$3.4 billion were identified for phase one of feasibility studies and due diligence.