Date: 07 Apr, 2021
The Arab Authority is keen to enhance cooperation and integration relations with regional and international organizations, companies and institutions to enhance Arab food security and contribute to achieving sustainable development goals.
In this context, the Arab Authority for Agricultural Investment and Development (AAAID) signed a Memorandum of Understanding with the Arab Fertilizer Association, on April 6, 2021, during the first day of the 27th AFA International Annual Fertilizer Forum, which took place in Sharm El-Sheikh, Egypt. AAAID was represented by His Excellency Mr. Mohamed bin Obaid Al Mazrooei President of AAAID, while the Arab Fertilizer Association was represented by His Excellency Dr. Sherif El Gabaly, representative of the Egyptian industry in the Associations’ Board of Directors, and a member of the Egyptian Parliament. In addition to His Excellency Dr. Nevin Jama, Egyptian Minister of Trade and Industry, His Excellency Major General Khaled Fouda, Governor of South Sinai, and His Excellency Engineer, Raed Al-Saoub, Secretary General of the Arab Fertilizer Association.
The memorandum aimed to lay down a general framework for the initiation of cooperation between the two parties in areas related to their joint activities. The two parties will also work to cooperate in presenting and studying investment opportunities related to the manufacture of fertilizers in the Arab countries that are compatible with the strategic plans of both parties. This is particularly in the field of projects associated with specialized and complex fertilizers (Blinding) and its various industries, in addition to the participation of experts and officials of the two parties in the activities connected to the manufacture and use of fertilizers in the Arab countries and the participation in the preparation and evaluation of various relevant feasibility studies.
His Excellency Mr. Mohammed bin Obaid Al Mazrooei, President of the Arab Authority stated that the signing of the Memorandum of Understanding represents an enhancement of the active role played by the Arab Authority and the Arab Fertilizers Association to contribute to achieving food security and increasing trade exchange in agricultural products in the Arab world. H.E explained that AAAID has an important role as an Arab financial institution with more than 42 years of experience in the field of investment and agricultural development, with contribution in 21 Arab countries and investments in 55 companies and projects by the end of 2020.