His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, confirmed that the UAE, under the guidance of its wise leadership, is keen to advance a constructive cooperation perspective with various countries of the world, through a program of comprehensive economic partnership agreements, in a way that contributes to the achievement of the objectives of the economic strategy.
Al-Zeyoudi in statements to the Emirates News Agency “WAM” during the signing of the Comprehensive Partnership Agreement between the UAE and Jordan said that the agreement came after a round of negotiations and several coordination meetings in an unprecedented time before and will come into force later this year, after being ratified, explaining that the agreement ends a long history of deep historical relations between the two countries and the two brotherly peoples.
He also said that the agreement provides more opportunities for growth and prosperity for the business communities, young generations, and entrepreneurs in both countries, and that it contributes to increasing bilateral trade to to exceed $8 billion by 2032, in a way that fulfills the organization’s goals and interests. the two brotherly peoples.
It indicated that non-oil bilateral trade with Jordan in 2023 exceeded $4.2 billion, achieving an increase of 37.9% over the year 2021 and 47.7% from 2019. Non-oil bilateral trade increased by 138% over the last ten years, explaining that the UAE is the fifth commercial partner for Jordan worldwide.
Al-Zeyoudi said that mutual investments between the UAE and Jordan are estimated to be around $22.5 billion, and that the UAE is the largest international investor in Jordan, as the UAE’s total investments in Jordan at the end of last year amounted to more than $4 billion, accounting for 14% of the total foreign direct investment in the Kingdom.
His Excellency said that the Comprehensive Economic Partnership Agreement between the UAE and Jordan contributes to the strengthening of bilateral trade and investment relations, accelerates growth in priority sectors, provides job opportunities, and strengthens supply chains, as well as enhancing our global competitive capabilities and leveraging our global trade network to expand into new markets for mutual benefit.”
He pointed out that the UAE and Jordan are exchanging their expertise in key sectors such as energy, infrastructure, transport and finance, while Jordan has a strong industrial base, especially in the production of phosphates, textile- textiles, and pharmaceuticals Areas for investment flows between the UAE and Jordan cover the tourism, hospitality, real estate, renewable energy, and transport sectors.
2024-10-06 16:46:54
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