Arab Parliament (AP) Speaker Adel bin Abdulrahman al Assoumi lauded the formation of an integrated industrial partnership between the United Arab Emirates, Egypt and Jordan, deeming it a key step to promote Arab economic integration.
This was announced during a meeting hosted by Abu Dhabi under the patronage of UAE President Sheikh Mohamed bin Zayed al Nahyan, in the presence of Prime Minister Moustafa Madbouli and Jordanian Prime Minister Bisher al Khasawneh.
It is a key step in terms of achieving the hoped-for Arab economic integration that the countries of the Arab region are seeking, the AP head said in a press release on Monday.
The Arab region is in dire need of these blocs, as the world is moving towards forming strong economic entities to face any repercussions, that resulted from the negative impacts of the outbreak of COVID-19 virus on the world’s economies and the Ukrainian crisis.
The Arab region possesses enormous economic potentials that should be exploited in order to achieve a real developmental renaissance that meets Arab aspirations and supports the coming generations, he added.
The volume of intra-Arab trade is still below the Arab ambition, he said, noting that these partnerships will contribute positively to pushing forward the volume of trade to higher levels.
Source: State Information Service Egypt