Madbouly: A historic day for Egypt, the United Arab Emirates and Jordan with the launch of the “Industrial Partnership”

His Excellency Dr. Mostafa Madbouly, Prime Minister of the sister Arab Republic of Egypt, revealed that Egypt has a strategic stockpile of all major commodities for up to 6 months to deal with food crises. urgency, pointing out that there is a plan to double and grow Egyptian exports to $100 billion over the next three years.

Madbouly told the Emirates News Agency (WAM): “Today, with the launch of the Integrated Industrial Partnership for Sustainable Economic Development between the United Arab Emirates, Egypt and Jordan, we are witnessing a day importance to the peoples of the three countries, especially as the This partnership comes in light of the unprecedented economic challenges facing the world, which assures us of the importance of integration and coordination among our countries to secure and provide the major goods and commodities that our peoples need.

He added, “The world is witnessing today, whether as countries or governments and peoples, the suffering of inflation and its enormous rates and high prices of various commodities, in addition to lack supply of these products, as many international institutions have warned of the aggravation of this crisis and its repercussions associated with the appearance of famines and crises in certain countries, which reinforces the importance of urgent action by the countries of the world in order to integrate and benefit from the competitive and comparative advantages of the countries, to achieve integration, especially in the basic products which the peoples need.

He pointed out that integration between countries is the basis for us to be safe from the crisis facing the world and its repercussions, because no world expert can predict what will happen next month, let alone the end of the year ; Therefore, the economic partnership comes to put in place a roadmap and an implementation plan that secures the main products that our countries need in the short term, which does not exceed one year, in addition to the medium and long term needs. term.

In response to a question about the Egyptian government’s plans to face the economic challenges, Madbouly explained that the Egyptian strategic reserve for the main commodities varies between 4 and 6 months for each product, which represents a wall in the face of different challenges. same methodology, and the strategic reserve is secured, a role by which the government has succeeded in providing goods to Egyptian citizens without the citizen feeling that there is a shortage of these goods.

He added: “There is an increase in prices, as it happens in all countries of the world, but our role as a government is to observe the social dimension, and absorb some of the cost and l price increase, as we continue our plan to rationalize local consumption, intensify industrialization works and localize local industry to supply strategic goods”.

He stressed that integration and coordination with the United Arab Emirates and Jordan will help achieve an important part of self-sufficiency, as we also work within government to maximize our local exports, despite the lack of supply chains. supply and products in the world. , Egypt has proven its capabilities and infrastructure, and we are striving to increase and double exports to bring Egypt’s exports to over $100 billion in the next two to three years.

The Egyptian Prime Minister stressed that the coordination between the UAE and Egypt is a comprehensive coordination at all levels, starting with the coordination between the leaders of the two brotherly countries, as the two are linked to distinguished brotherly relations. , whether at the level of governments or peoples, emphasizing that high-level coordination has helped to move quickly Flexibility to implement projects, agreements and partnerships, which can take several months, in a few days.

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