During COP 28 UNIDO and ITFC Forge Strategic Partnership for Sustainable Development

Mr. Gerd Müller, Director General of the United Nations Industrial Development Organization (UNIDO), and Eng. Hani Salem Sonbol, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC), have announced a renewed commitment to collaborate to advance the United Nations Sustainable Development Goals (SDGs).

The Joint Declaration signed by both parties during the 2023 UN Climate Change Conference (COP 28) in Dubai underscores the vital role that UNIDO and ITFC play in promoting industrial development and trade development, respectively. Recognizing the interconnection between trade and industry, they express their shared commitment to mobilizing expertise, technologies, and financial resources essential for achieving the SDGs.

Eng. Hani Salem Sonbol, CEO of ITFC, commented on the collaboration, stating, “This partnership signifies our efforts to improve economic conditions and livelihoods within the Member Countries of the Organization of Islamic Cooperation (OIC). By combining our strengths with UNIDO, we aim to make substantial progress towards the SDGs, particularly in areas such as agro-industries, energy access, and the empowerment of women and youth, specifically in regions of common interest, including Africa and the Arab regions.”

Mr. Gerd Müller, Director General of UNIDO, highlighted the importance of making investments which focus on new and green technologies, and partnerships that aim to provide access to energy and food security for the growing population. He said, “Working under this renewed cooperation between UNIDO and ITFC, we will be able to achieve more and have greater impact, supporting the ending of hunger and creating jobs in developing countries.”

The joint declaration emphasizes cooperation in areas of mutual interest, with a focus on agro-industries, energy services, private sector investments, and innovative financing mechanisms. Both signatories express their desire to explore cooperation opportunities in countries of common interest, promoting knowledge sharing, joint activities, and the exchange of expertise.

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