UAE and Bahrain finalise ICV programmes procedures

The UAE and Bahrain have finalised the procedures required to implement an MoU, signed last January, that fosters cooperation between the National In-Country Value (ICV) Programme and Bahrain’s Value Programme in Industry, known as Takamul.

They two parties agreed to 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 per cent preference, provided they complete the qualification process by applying through the Ministry of Industry and Commerce’s online portal.

The agreement comes as His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs is on an official trip to Bahrain.

The UAE Minister of Industry and Advanced Technology, Dr. Sultan Ahmed Al Jaber, 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, “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."

The Bahraini Minister of Industry and Commerce, Abdulla bin Adel Fakhro, 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.