Energy ministers of 14 Arab countries signed a memorandum of understanding (MoU) to establish a joint Arab electricity market. The signing was on the sidelines of the 12th session of the Arab Ministerial Council for Electricity, during a ceremony at the headquarters of the General Secretariat of the Arab League, Egypt Independent informed.
The MoU was signed by the UAE, Bahrain, Algeria, Saudi Arabia, Sudan, Iraq, Oman, Qatar, the United Comoros, Kuwait, Egypt, Libya, Morocco and Yemen.
Economic Affairs Sector at the Arab League Assistant Secretary General and Chairman Kamal Hassan Ali, said “The MoU signed by the ministers in charge of electricity in the Arab countries confirms their political commitment to an integrated electricity supply system for the power grids of the Arab countries,” according to Middle East Monitor.
In addition, the council discussed the Arab strategy for sustainable energy, including monitoring the development of renewable energy in the region, as well as maintaining energy efficiency and reducing oil consumption. The meeting’s participants also welcomed the cooperation with the International Agency for Renewable Energy.