Bahrain joins regional industrial partnership

Bahrain joins regional industrial partnership

Bahrain has joined Egypt, Jordan and the UAE in a regional bloc that represents the world’s largest combined raw aluminium exporter value of $6.76 billion.

Established in May this year, the Industrial Partnership for Sustainable Economic Development aims to establish large joint industrial projects and create job opportunities in the partner countries.

The kingdom, represented by Industry and Commerce Minister Zayed Alzayani, was included as a new member of the partnership during the second higher committee meeting in Cairo yesterday.

Bahrain, a major producer of aluminium, will increase the partnership’s total industrial manufacturing value add from $106.26bn to $112.5bn, a statement issued after the meeting said.

The country boasts a strong industrial sector with more than 9,500 companies and 55,000 employees and $4.3bn in industrial foreign direct investment.

It was also announced that the committee has shortlisted 12 projects worth $3.4bn to move into feasibility studies.

A total of 87 industrial project proposals focused on fertilisers, agriculture and food were assessed by the committee.

In the next phase, the partnership will focus on the metals, chemicals, plastics, textiles and clothing sectors.

In her remarks, Egypt’s Minister of Trade and Industry Dr Nevin Gamea stressed the significance of the industrial partnership in confronting the economic consequences of the global