Industrial partnership initiative launched by Jordan, Egypt, the UAE and Bahrain has fulfilled its promises to turn economic integration into reality, as a slew of agreements were signed in Jordan.
Head of Amman Chamber of Industry (ACI), Fathi Jaghbir, said complementary partnership would contribute to enhancing levels of the four countries’ economic security by raising “productive and competitive” capacities, joint economic empowerment and providing “major” investment projects, which would provide added value that would be reflected in the entire Arab economy in the future.
In a statement to “Petra” on Saturday, he noted this partnership would exploit these nations’ available opportunities and advantages and provide “high” levels of integration and partnership in multiple economic, social and political fields.
Partnership would also help to reduce economic and social challenges and issues, at the forefront are the high unemployment rates and modest income levels, by providing multiple job opportunities by launching development projects scheduled to be implemented within this integration framework, according to Jaghbir.
Jaghbir noted signing 12 agreements between the four countries in “vital” sectors is a “serious and practical” step to truly launch partnership, network available capabilities, and lay a “major” cornerstone for pan-Arab integration.
This economic integration, if properly implemented, would lead to expanding quadruplex cooperation scope to go beyond the concept of increasing trade and investment exchange and achieve “participatory” industrial and productive mindset, develop techn and innovation levels, and standardize procedures and standards, he pointed out.
Jordan’s industrial sector possesses “distinguished” capabilities that made it occupy an “important” position in the agreements that were signed, he noted.
Referring to multiple opportunities in the “promising” industrial fields, he said this integration is considered an opportunity to achieve growth and prosperity of the national industry, and strengthen principle of joint Arab economic and industrial integration.
Source: Jordan News Agency