Strengthening Partnerships for a Sustainable Economy
The recent announcement of Qatar and Türkiye joining the Integrated Industrial Partnership for Sustainable Economic Development marks a significant milestone in regional industrial integration. This partnership, which began in Abu Dhabi in 2022, now includes seven member states, reflecting a collective ambition to enhance industrial cooperation and foster a resilient, competitive economy.
A New Era of Industrial Integration
The inclusion of Qatar and Türkiye into this partnership is not just a formality; it represents a strategic advancement that aims to bolster industrial growth across the region. Qatar, with its rich natural resources and technological innovations, complements Türkiye’s robust industrial capabilities. Together, they bring fresh momentum to the partnership, which is focused on improving industrial integration and cooperation among member countries.
Both nations are recognized for their strengths in various sectors, including manufacturing, renewable energy, textiles, pharmaceuticals, and food industries. This diverse industrial landscape provides a solid foundation for collaboration, enabling member states to leverage each other’s strengths and resources effectively.
Focus on Supply Chains and Self-Sufficiency
In light of rapid global developments, the Integrated Industrial Partnership emphasizes the importance of strengthening supply chains and achieving self-sufficiency in strategic industries. The addition of Türkiye and Qatar underscores the partnership’s role in driving sustainable economic growth and innovation.
Qatar’s economy, with the industrial sector contributing 25% to its GDP, exemplifies sustainable growth. The country’s National Strategy for Manufacturing Industries (2024-2030) aims to elevate the industrial sector’s contribution to QAR 70.5 billion by 2030, reinforcing its status as an industrial powerhouse.
Türkiye: A Hub of Economic Resilience
Türkiye stands as a leading economic force with a GDP exceeding $1.1 trillion in 2023. Its strategic location provides access to markets with over 1.3 billion consumers, bolstered by free trade agreements that enhance its global competitiveness. Türkiye serves as a crucial hub for global supply chains, showcasing robust industrial capabilities in sectors such as automotive, food processing, textiles, and advanced technologies.
The partnership with Qatar and other member states is expected to enhance the regional industrial base, boosting competitiveness and creating new opportunities for collaboration. This expansion aligns with the partnership’s goals of achieving sustainable economic development through supply chain resilience and job creation.
Key Developments from the Fifth Meeting
The fifth meeting of the Higher Committee for the Integrated Industrial Partnership was attended by key officials from member countries, including ministers from the UAE, Qatar, Jordan, Egypt, Bahrain, Morocco, and Türkiye. This gathering highlighted the commitment of member countries to enhance industrial cooperation and boost sustainable economic development.
During the meeting, several agreements were signed, and strategic projects valued at over $2 billion were announced. These initiatives focus on critical sectors such as metals, pharmaceuticals, and plastics, while also prioritizing advancements in biotechnology and high-tech industries.
Notable Agreements and Strategic Projects
Among the significant announcements was a raw material supply agreement between Bahrain Steel and Qatar, valued at $1.3 billion, which will facilitate the supply of 5 million metric tons of raw materials over five years. Additionally, a Memorandum of Understanding was signed between the UAE’s ISC Capital and Bahrain’s Peninsula Farms to establish a sustainable microalgae production facility in Bahrain, with a $10 million investment aimed at advancing microalgae production technology.
In the pharmaceutical sector, a collaboration between the UAE’s Globalpharma and Morocco’s Zenith Pharma was announced, focusing on manufacturing and technology transfer in injectable medications and biologics, with an investment exceeding $50 million. These agreements reflect the partnership’s commitment to strengthening regional industrial capabilities and enhancing local production capacity.
Accelerating Economic Growth
The new projects and agreements underscore the commitment of the Integrated Industrial Partnership to achieving sustainable economic development. They aim to accelerate economic growth, support sustainability, and enhance collaboration in economic and investment initiatives. The initiatives are expected to create new job opportunities, strengthen food and industrial security, and promote innovation across crucial industries.
During the Higher Committee meetings, a comprehensive review of the partnership’s achievements was conducted, highlighting successful project implementations and ongoing initiatives. Member countries discussed their competitive advantages, including advanced infrastructure and supportive policies designed to attract industrial investments.
Recognition of Outstanding Contributions
The meeting also recognized four industrial companies for their significant contributions to the partnership. The UAE’s Global Pharma and Jordan’s Savvy Pharma were honored for their efforts in pharmaceutical research and development, while Emirates Steel and Bahrain Steel were acknowledged for their essential role in supplying raw materials.
Ministers encouraged other participating private sector companies to follow the example set by these distinguished organizations, emphasizing the importance of enhancing contributions to partnership projects and leveraging competitive advantages for sustainable development.
A Unified Vision for Sustainable Development
Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, emphasized the unified vision of the partnership, focused on enhancing sustainable economic development and strengthening relations among member countries. He expressed confidence that the inclusion of Qatar and Türkiye would bolster the common interests of all members, given their industrial and economic strengths.
The partnership is seen as a remarkable success story, having transformed agreements into tangible projects that contribute to building a sustainable common industrial base. These initiatives support supply chain resilience, reduce production costs, and create thousands of job opportunities, ultimately contributing to the strategic goals of the partnership.
Catalyzing Industrial Innovation
Türkiye’s Minister of Industry and Technology, Mehmet Fatih Kaçır, highlighted the importance of strategic synergy between industrial innovation and global cooperation. He expressed optimism that joining the partnership would promote technological advancement and create new opportunities for sustainable economic development in the region.
Bahrain’s Minister of Industry and Commerce, Abdulla bin Adel Fakhro, reiterated the government’s commitment to supporting manufacturers participating in the partnership, aligning with the Industrial Sector Strategy aimed at enhancing regional industrial integration.
Building Economic Resilience
Jordan’s Minister of Industry, Trade and Supply, Yarub Falah Al Qudah, emphasized the need for sustained measures to recover and institutionalize the partnership’s initiatives. He outlined the importance of economic integration and supportive regulatory structures to facilitate trade and establish joint projects among member countries.
The partnership is seen as a proactive approach to strengthening economic and social resilience, with a focus on empowering local manufacturers to play a significant role in regional industrial integration.
Industrial Integration: An Urgent Necessity
Lieutenant General Engineer Kamel Al Wazir, Egypt’s Deputy Prime Minister for Industrial Development, remarked that industrial integration is no longer an option but an urgent necessity. He emphasized the importance of cooperation among member countries to overcome challenges and capitalize on opportunities in sustainable industries.
The Integrated Industrial Partnership for Sustainable Economic Development embodies the ambition of member countries to enhance collaboration and build a strong economic alliance, ensuring the security of supply chains and enhancing value chains across the region.
Future Prospects
As the partnership continues to evolve, discussions during the Executive Committee meetings focused on ongoing projects and proposals for new initiatives across various sectors, including food, agricultural technology, and sustainability. The commitment to fostering collaboration and leveraging each country’s strengths will be crucial in driving sustainable economic growth and establishing the region as a leading global hub for industrial investment.
