Abu Dhabi [UAE], November 26: Building upon the strong, historical ties between the Kingdom of Bahrain and the United Arab Emirates, and in alignment with the Memorandum of Understanding (MoU) signed in January 2024 by the Bahrain Ministry of Industry and Commerce and the UAE Ministry of Industry and Advanced Technology (MoIAT), technical teams from both nations have convened to explore strategies for implementing the MoU and fostering synergies between the UAE's National In-Country Value (ICV) Programme and Bahrain's Value Programme in Industry (Takamul).
The two parties finalised the procedures required to implement the MoU and agreed on the following:
-Bahraini industrial enterprises will be eligible to apply for the National ICV Programme and obtain the programme's certification according to the UAE's established procedures and standards, through the authorised entities issuing the certification. This would allow them to participate in federal government procurement tenders in the UAE.
-Emirati industrial enterprises will also be eligible to benefit from Bahrain's 'Takamul' Programme by receiving a 10% preference, provided they complete the qualification process by applying through the Ministry of Industry and Commerce's online portal.
On this occasion, Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, stated:
"The deep-rooted, fraternal ties between the UAE and Bahrain, as guided by the visionary leadership of both nations, serve as a model for regional integration and cooperation. This strategic partnership is poised to elevate private sector growth, competitiveness, and contribution to sustainable economic development across key industries, including advanced technology."
He added: "Collaboration between the UAE's National ICV Programme and Bahrain's 'Takamul' Programme marks a significant milestone in strengthening our strategic partnership. By fostering industrial integration and sustainable development, this initiative aims to enhance the resilience and sustainability of supply chains in both nations. Through the manufacturing of high-quality, domestically produced goods, we seek to reduce reliance on imports and drive self-sufficiency, ultimately contributing to long-term economic growth and prosperity."
He concluded: "We are confident that this step will positively impact the competitiveness and growth of private sector companies in both nations, enhancing their contribution to sustainable economic development."
In this regard, Abdulla bin Adel Fakhro, Minister of Industry and Commerce, commended the robust, long-standing relations between Bahrain and the UAE and their brotherly peoples. He emphasised the importance of such initiatives and their significant role in strengthening strategic partnerships between the two countries to achieve the desired integration.
"These efforts will further advance joint cooperation to new horizons, fostering prosperity and growth for both nations and their peoples. Such initiatives translate the noble directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Majesty King Hamad bin Isa Al Khalifa of Bahrain," the Bahraini minister added.
Source: Emirates News Agency