The partnership aims to advance economic, trade and investment relations to new levels of mutual growth, in addition to providing more job opportunities on both sides, improving supply chains and accelerating the growth of priority sectors.
The agreement was signed during the ceremony that took place at Basman Palace, by Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State The UAE For Foreign Trade, Engineer Yaroub Falah Al-Qudah, Minister of Industry, Trade and Supply in Jordan.
As witnessed by ABy Sheikh Mohammed bin Zayed Al Nahyan King Abdullah II signed the administrative cooperation agreement in customs matters between the UAE and…Jordan.
It was signed on the part of the UAE by Ali bin Hammad Al Shamsi, Chairman of the Federal Authority for Identity, Citizenship, Customs and Ports Security, and on the Jordanian side by Engineer Yaroub Falah Al Qudah, Minister of Industry, Trade and Supply.
Sheikh Mohammed bin Zayed Al Nahyan welcomed the signing of the agreement, which is the first for the UAE with an Arab country, noting that it is a natural development of the fraternal and strategic relations that bring together UAE And Jordan.
He said that the agreement constitutes an important basis for enhancing joint cooperation and economic integration between the two countries, in addition to building more fruitful partnerships and launching a new era of long-term trade and investment cooperation in order to achieve sustainable economic growth in the two brotherly countries and prosperity in the region in general.
For his part, King Abdullah II expressed his aspiration that the agreement would contribute to achieving the two countries’ common vision for development and sustainable economic prosperity and open new horizons for economic integration between the two countries, praising the UAE’s support for development efforts in Jordan.
The signing of the historic agreement stems from a solid foundation of thriving economic relations between the UAE and Jordan, after bilateral non-oil trade exceeded $4.2 billion, while continuing its upward trajectory after recording $2.7 billion during the first half of 2024, with a growth of more than 36.8 percent compared to the same period of the year. 2023.
According to feasibility studies, the agreement will contribute to stimulating mutual trade flows by removing or reducing trade restrictions and non-tariff measures on commodity and service products.
Jordan is currently the third largest Arab trading partner of the UAE outside the Gulf Cooperation Council countries. The UAE is also the largest global investor in Jordan, with estimates indicating that mutual investments between the two countries have reached approximately $22.5 billion.
When the agreement enters into force, it is expected to contribute to increasing these numbers to higher levels, stimulating the growth of opportunities across multiple sectors, including renewable energy, industrial projects, manufacturing, transportation, pharmaceuticals, and food processing.
The Comprehensive Economic Partnership Agreements Program, which the UAE continues to implement, constitutes a main pillar of the UAE’s economic growth strategy aimed at expanding its trade relations with various countries of the world by removing barriers to trade, improving access to markets, and facilitating cooperation with the private sector.
