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The United Arab Emirates, the Arab Republic of Egypt and the Hashemite Kingdom of Jordan have announced an Industrial Partnership for Sustainable Economic Growth in Abu Dhabi to unlock new industrial opportunities and enhance sustainable economic growth in the three countries.
His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs, witnessed the signing of the partnership with H.E. Dr Mostafa Madbouly, Prime Minister of Egypt, and H.E. Dr Bisher Al Khasawneh, Prime Minister of Jordan.
The partnership agreement was signed by H.E. Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, H.E. Dr Nevein Gamea, Egyptian Minister of Industry and Trade, and H.E. Yousef Al Shamali, Jordan Minister of Industry, Trade and Supply.
Madbouly, Al-Jaber and others also agreed to form working groups to develop renewable energy contracts between Egypt and the UAE.
Madbouly said that “one of the promising areas of Egyptian-Emirati cooperation is the new and renewable energy sector,” explaining that “there are directives from President Abdel Fattah El-Sisi to increase cooperation with brothers in the Emirates in this field, in light of the increasing demand for clean energy and green hydrogen.”
Two renewable energy projects were discussed by the prime minister. The first was about the Red Sea of 10,000 MW of wind energy and the second concerned the generation of 200 GW of solar and wind energy. This was done through the creation of a clean energy corridor and the transfer of it through a separate network before being sold to factories that want to get into the field of green hydrogen generation.
Al-Jaber praised the UAE’s cooperation on Egypt’s projects and stressed that the directives were given by Sheikh Mohamed bin Zayed Al-Nahyan (president of the state), who always emphasised partnering with Egypt.
Al-Jaber stated that Egypt, hosting the COP27 climate conference is a great opportunity for Egypt to capitalize on the momentum and implement projects related to clean electricity.
The UAE’s investments in Jordan exceed US$17 billion and are targeted primarily at infrastructure, transportation, tourism, agriculture, industry and renewable energy. The UAE has an advanced industrial ecosystem with a diversified mix of energy.