UAE expects ‘tens of billions of dollars’ in projects under new industrial partnership – The National

UAE expects ‘tens of billions of dollars’ in projects under new industrial partnership – The National

The UAE expects "tens of billions of dollars" worth of projects under a new industrial partnership with Egypt and Jordan, amid a push for greater inter-Arab economic co-operation in the face of global challenges such as the Covid-19 pandemic and Ukraine war.

Work on projects in the five key sectors of agriculture, pharmaceuticals, petrochemicals, minerals and textiles will start immediately following feasibility studies, Omar Al Suwaidi, undersecretary at the Ministry of Industry and Advanced Technology (MoIAT), told The National following the agreement signing on Sunday.

"One of the main benefits of this partnership is an integrated industry between the three countries, so the focus is on integrating value chains for different industries. The value-add will be in terms of creating more value industries between the three countries, job opportunities for a population of 60 million youth and in terms of the size of the projects, we're looking at tens of billions of dollars for the five sectors," he said.