Morocco joins the Integrated Industrial Partnership Initiative for Sustainable Economic Development
The alliance, which Morocco joined on Thursday January 11, 2024, counts among its members Egypt, the United Arab Emirates, Jordan and Bahrain. Its aim is to create a regional economic and industrial core capable of confronting global crises and strengthening the economic sovereignty of the five countries, particularly in vital sectors such as food, health, energy and industry. It also aims to produce sustainable growth in the industrial sector, through resource complementarity. The project is expected to benefit from the competitive advantages of each Member State through concerted efforts, with the aim of reducing production costs, securing supply chains, creating more employment opportunities, achieving sustainable economic development, self-sufficiency as well as improving industrial competitiveness. The Minister of Industry and Trade, Ryad Mezzour, stressed that this initiative is “as an incarnation of the desire of the leaders of our countries to build bridges of integration and cooperation to build strong economic blocs to achieve sustainable development.” Mr. Mezzour clarified that “this initiative is more than ever of great importance, particularly in light of the circumstances the world is experiencing and the transformations occurring in global value chains.” “This requires us to combine our efforts, to develop new partnerships to address sovereignty issues in various vital sectors, to meet the challenges of self-sufficiency in basic products and to strengthen competitiveness and innovation,” he announced on the occasion of the fourth meeting of the “High Committee for Integrated Industrial Partnership for Sustainable Economic Development.”
source: maroc-hebdo.press.ma
