Shamali talks Arab industrial integration at World Government Summit in Dubai

AMMAN — Minister of Industry, Trade and Supply and Minister of Labour Yousef Shamali on Tuesday emphasised the importance of achieving Arab industrial integration in multiple fields in order to help countries in the region face various challenges. 

Shamali’s, addressing a panel session over the sustainability of the industrial sector at the World Government Summit in Dubai, discussed the localisation of industries and international cooperation, and noted that Arab industries are mostly focused on oil and minerals extraction, as well as consumable goods, such as food and clothing. 

The transformational industrial sector in Arab countries accounts for only 13 per cent of the GDP on average, compared to a global average of 15.4 and an 18 per cent average in medium-income countries, he said. 

Regarding intra-Arab trade, Shamali said that consumer goods trading accounted for about 55 per cent of GDP, while agricultural products ranked second at 3.19 per cent, and mineral fuel exports came in third at 2.13 per cent. 

The minister referred to a partnership between Jordan, the UAE, Egypt and Bahrain launched in mid-2022 in order to establish integrated industrial infrastructure for sustainable economic development.

He also drew attention to the importance of investing in human capital by improving education and training, which will increase worker productivity.

Shamali also highlighted the need to improve credit facilities targeted towards the manufacturing sector, which would enable the sector to adopt modern technology.

On the sidelines of the summit, Shamali met with several ministers from the UAE, Egypt and Bahrain, with discussions focusing on ways to enhance economic cooperation and increase investments between Jordan and the ministers’ respective countries.

The ministers also highlighted the upcoming third meeting of the Joint Higher Committee for Industrial Integration between Jordan, the UAE, Egypt and Bahrain, which will be held in Amman on the 26th of this month. 

With a concentration on strengthening partnerships, the meetings will unveil multiple investment projects that will be implemented under the four-way partnership, Shamali noted.