UAE-Jordan elevate trade & investment

0
391

HE Dr Thani Al Zeyoudi meets the Jordanian Prime Minister during a recent official visit to Amman

HE Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, recently held talks in Amman with HE Bisher Al-Khasawneh, Prime Minister of the Hashemite Kingdom of Jordan, to discuss ways to enhance trade and investment relations and develop opportunities for constructive cooperation between the nations’ respective private sectors.

In his meeting with the Prime Minister, HE Dr. Thani emphasized that the UAE and Jordan share a common vision to build agile, adaptable economies based on innovation, knowledge and the free flow of trade.

During the visit, HE also met HE Yousef Al-Shamali, Jordan’s Minister of Industry, Trade and Supply, during which they reviewed UAE-Jordan trade, which is witnessing continued momentum. In 2022, non-oil bilateral trade reached US$ 4.5bn, an increase of more than 47% compared to 2021 and more than double the value recorded in 2020. In the first half of 2023, bilateral trade flows exceeded US$ 2bn.

Investment momentum

“This visit has demonstrated the mutual will to accelerate the trade and investment momentum between us and to provide more opportunities for our business communities in a range of high-potential sectors,” asserted HE Dr Thani.

“Jordan and the United Arab Emirates are eager to explore greater collaboration in the areas of mutual benefit, particularly trade and investment but also the continued development of partnerships and joint ventures that serve the interests of both our nations,” observed HE Al-Khasawneh.

Jordan is UAE’s third-largest Arab trading partner outside the Gulf Cooperation Council, with a share of 8% of the UAE’s total non-oil foreign trade with Arab countries. The UAE is also Jordan’s fifth-most important trading partner globally, and the second-largest Arab partner after Saudi Arabia, with a 6.2% share of Jordan’s foreign trade.

The Kingdom is among the top 24 countries investing in the Emirates, and the sixth in the Arab world after Saudi Arabia, Kuwait, Lebanon, Bahrain, and Qatar.

LEAVE A REPLY

Please enter your comment!
Please enter your name here