Morocco joined the grouping of Industrial Partnership for Sustainable Economic Growth, becoming its 5th member country.
It joined UAE, Jordan, Egypt, and Bahrain in the grouping, aimed at strengthening regional industrial integration.
The African country joined the partnership during its fourth meeting in Manama, the capital city of Bahrain.
The meetings were held with the participation of Abdullah bin Adel Fakhro, Bahrain’s Minister of Industry and Commerce, Dr. Sultan bin Ahmed Al Jaber, the Minister of Industry and Advanced Technology, Engineer Ahmed Samir Saleh, Egypt’s Minister of Industry and Trade, Yousef Al Shamali, Jordan’s Minister of Industry, Trade and Supply, and Riyad Mazour, Morocco’s Minister of Industry and Trade.
The Executive Committee of the Industrial Partnership for Sustainable Economic Growth held meetings with officials, including industry and trade undersecretaries from the partner countries, on Wednesday, January 10, to discuss the progress of current projects and new proposals.
The industrial partnership has received robust support from member countries since its launch in Abu Dhabi in May 2022.
The UAE President Sheikh Mohamed bin Zayed Al Nahyan praised the partnership’s role as a framework for cooperation and integration in the region, accelerating sustainable development, strengthening crisis resilience and increasing self-sufficiency in critical areas such as food, health, energy and industry among others.
Strategic agreements
During the group’s meeting on Thursday, UAE’s W Motors, the strategic partner of NWTN Motors, and Jordan’s Manaseer Group signed an agreement to establish an electric car manufacturing plant in Jordan, with an investment value of $80 million.
Additionally, Manaseer Group and Bahrain’s Alba signed a memorandum of understanding (MoU) to supply 13,000 tons of aluminum fluoride annually, contributing to an import substitution value of $20 million.
Bahrain’s Alba also signed an MoU with Jordan Phosphate Mines for silica supply, contributing to an import substitution value of $66 million.
Bahrain Steel signed a supply agreement with Emirates Steel, which will purchase 2 million tons of raw materials over five years, valued at $2 billion.
An MoU was also signed between the UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Bahrain’s Ministry of Industry and Commerce leveraging the UAE’s National In-Country Value (ICV) Program.
The initiative is aimed at sharing best practices with respect to local content programmes.
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