Dateline: Doha: The fifth meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development commenced in Doha, Qatar, marking a significant milestone with Qatar and Trkiye joining the regional initiative. The inclusion of these two countries was announced during the meeting, expanding the partnership to seven member states since its inception in Abu Dhabi in 2022. This development underscores the commitment of these countries to foster industrial cooperation and sustainable economic growth.
According to Emirates News Agency, the meeting was attended by key officials, including Dr. Sultan bin Ahmed Al Jaber from the UAE, Sheikh Faisal bin Thani bin Faisal Al Thani from Qatar, and other ministers from Jordan, Egypt, Bahrain, Morocco, and Trkiye. The expansion of the partnership is set to enhance industrial integration and create a resilient economic framework within the region. Qatar and Trkiye bring valuable resources and industrial capabilities that align with the partnership’s objectives of achieving industrial growth and expansion.
The strategic integration of Qatar and Trkiye is expected to support the partnership’s goals in sectors like manufacturing, renewable energy, textiles, pharmaceuticals, and food industries. The partnership aims to strengthen supply chains, enhance self-sufficiency, and drive sustainable economic development amid global challenges. The inclusion of these countries is pivotal in establishing a competitive regional economy.
Qatar’s industrial sector, contributing 25% to its GDP, is poised for growth through its National Strategy for Manufacturing Industries, targeting an increase to QAR 70.5 billion by 2030. Meanwhile, Trkiye’s strategic location and robust industrial base, with a GDP exceeding US$1.1 trillion, position it as a key player in global supply chains.
During the meeting, several strategic projects worth over US$2 billion were announced, focusing on collaboration in metals, pharmaceuticals, and plastic industries. Notable agreements included a US$1.3 billion raw material supply deal between Bahrain Steel and Qatar, and a US$10 million project for a microalgae production facility in Bahrain. These initiatives aim to bolster economic collaboration and innovation across member countries.
In the pharmaceutical sector, a partnership between the UAE’s Globalpharma and Morocco’s Zenith Pharma was established to enhance regional pharmaceutical production. The UAE’s Mubadala Investment Company also announced the acquisition of factories in Egypt and Morocco, strengthening its pharmaceutical investments. Additional agreements covered sectors such as food processing, electrical equipment, and sustainability.
The meeting reviewed the partnership’s achievements, highlighting successful projects and future plans to enhance regional cooperation. Attendees discussed investment opportunities and policies to attract industrial investments and foster economic integration.
Four companies were honoured for their contributions to the partnership, including Global Pharma from the UAE and Savvy Pharma from Jordan. These recognitions encourage other private sector entities to contribute to sustainable development and regional industrial growth.
Dr. Al Jaber and other ministers emphasized the strategic significance of the partnership in enhancing industrial collaboration and achieving economic diversification. The meeting concluded with optimism for future projects and the potential for the partnership to establish the region as a leading hub for industrial investment.