The initiative identified vital areas of common interest that will be focused on during the first phase. The areas include textiles and petrochemicals. The document was signed at the conclusion of the tripartite meeting on May 29 between the three countries.
This partnership is based on a set of strategic goals, the first being to develop industries capable of competing globally. The second goal is to jointly achieve secure and flexible supply chains, which is expected to lead to improving economic security and ensuring protection from price fluctuations.
The third objective is the pursuit of sustainable growth by utilising renewable and low-carbon energy sources, while the fourth is based on promoting growth and the integration of value chains and trade between the three countries through joint action to develop value chains in a manner that ensures flexibility, self-sufficiency, integration and the development of trade.
The signing ceremony was attended by Egyptian Prime Minister Mostafa Madbouly, Jordanian Prime Minister Bisher Al-Khasawneh and UAE deputy prime minister and minister of presidential affairs Sheikh Mansour bin Zayed Al Nahyan, according to media reports from Egypt.
The document was signed by Egypt’s minister of trade and industry Nevein Gamea, UAE minister of industry and advanced technology Sultan Al-Jaber and Jordanian minister of industry, trade and supply Youssef Mahmoud Al-Shamali.
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