​The Gulf Organization for Industrial Consulting (GOIC) and the Arab Industrial Development and Mining Organization (AIDMO) signed a memorandum of understanding aiming at promoting cooperation, coordination and the exchange of information about the industrial and economic sectors and relevant activities. The event took place during the opening of the 25th session of the AIDMO general assembly at the Sheraton, Kuwait, from April 24 to 26, 2018. Ministers of industry and mining from the region and the world and many decision makers and stakeholders in the industrial sector attended the event. 

His Excellency Engineer Adel Sakr Abdulkareem Al-Sakr, Director General of AIDMO, and His Excellency Mr. Abdulaziz Bin Hamad Al-Ageel, Secretary General of GOIC, signed the MOU on behalf of their organizations. 

According to the MOU, both parties will seek to encourage technical cooperation and the exchange of technical expertise, consultations and information about the industrial and economic sectors. They are also to promote coordination of stances in regional and international platforms vis-à-vis issues of joint interest in the fields of industry and economy. Moreover, they will endeavour to increase mutual understanding of their respective roles and specialisations and avoid duplication of any efforts. The two organizations will also cooperate to raise awareness of various industrial activities in the commercial and industrial fields, to notify each other of new potential legislations and to establish partnerships and joint work groups. 

Cooperation between GOIC and AIDMO is stipulated by the Memorandum of Understanding in a variety of areas including: information technologies and media, industrial information and periodicals, technical and statistical information and data in the fields of industry and economy, feasibility studies and investment opportunities. Furthermore, the two organizations will coordinate in the areas of technical, administrative and financial consultations to support SMEs in their projects, hence contributing to achieving economic development goals in the Gulf and the Arab world. In addition to that, GOIC and AIDMO will prepare reports and hold training workshops on industrial strategies and policies aiming at developing an efficient work environment for SMEs. This will help increase their competitiveness at the local, regional and international levels through the exchange of expertise between the two organizations. 

Cooperation will also encompass efforts in the area of research and studies, investment opportunities, technical and economic feasibility studies in the fields of petrochemicals, metals, pharmaceuticals and food. The two parties will also prepare technical studies to determine available investment opportunities and production obstacles that SMEs face. Cooperation and coordination will also include holding conferences, seminars, exhibitions and training. 

HE Mr. Al-Ageel, GOIC Secretary General, said “Signing this MOU with AIDMO reflects GOIC’s keenness to promote industrial and economic cooperation and coordination between Arab countries to achieve integration and industrial development throughout the Arab world.”