Palestine and Saudi Arabia Lead Adoption of an Arab Strategy for Industrial Integration During an Extraordinary Meeting in Riyadh

SadaNews - Minister of Industry A. Arafat Asfour, alongside his Saudi counterpart Minister of Industry and Mineral Resources Bandar Al-Khorayef, chaired the extraordinary meeting of the General Assembly of the Arab Organization for Industrial Development and Mining, with the participation of 18 Arab countries, held in the Saudi capital, Riyadh, aimed at adopting the Arab industrial integration strategy.

The strategy includes four main objectives and eight executive programs seeking to establish integrated Arab industries capable of competing globally, addressing the industrial gaps between Arab countries, directing Arab investments towards the industrial sector, and enhancing Arab self-sufficiency in strategic industries to support Arab economic security, contributing to the expansion of intra-Arab trade.

The strategy was officially adopted and submitted to the Economic and Social Council in preparation for its approval by the Arab Summit, with an invitation directed to Arab funds and financing institutions to provide the necessary resources for its programs' implementation.

The meeting also approved the governance mechanism for the strategy, which includes preparing executive plans, monitoring implementation, and ensuring continuous updates.

During his speech, Minister Asfour called for directing Arab investments towards the Palestinian industry and emphasized the importance of contributing to the reconstruction of factories in the southern governorates to revive production and enhance the productive capacity of both Palestinian and Arab industries.