Jordan is a promising market for UAE exports of services

Ministers confirmed that the comprehensive economic partnership agreement signed by the UAE with the Hashemite Kingdom of Jordan is considered a strategic step with an important economic and commercial partner in the Arab region, noting that Jordan is a promising market for the UAE’s exports of services.

The ministers pointed out that the Comprehensive Economic Partnership Agreement paves the way for a new phase of strong relations and cooperation, as it opens doors to companies and investments in vital sectors, and creates more promising opportunities for both economies. The agreement would also remove barriers to the flow of trade and stimulate development potentials in the region. Important areas such as industry, energy, agriculture, food security, and others.

Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, confirmed that “The Hashemite Kingdom of Jordan is an important regional trading partner for the UAE, as intra-oil non-oil trade exceeded $4.1 billion in 2023, an increase of 46.1% compared to levels before the global pandemic, specifically in 2019.” ».

He added: “The agreement was designed to achieve the common interest of both sides, as Jordan represents a promising market for our exports of services, especially within the field of consulting, financial and professional services, and tourism, while the UAE provides a vital market for the most important Jordanian products, including phosphates and textiles. The UAE believes in the importance of trade as an essential factor for long-term sustainable growth and the continued diversification of our economy, and we look forward to fully realizing the benefits of the agreement in the coming months and years.”

Minister of State for Financial Affairs, Mohammed bin Hadi Al Husseini, said: “The Comprehensive Economic Partnership Agreement between the UAE and Jordan represents a pivotal step within our strategy to build strategic partnerships that consolidate our position as a regional and global center for trade and investment.”

He added: “The agreement aims to stimulate bilateral trade and improve the competitiveness of the business system in the two countries, all of which are essential pillars of their economic vision. Jordan, as a rapidly growing economy strategically located in the heart of the Arab world, is an ideal regional partner for these efforts. We look forward to strengthening our cooperation in the coming years to achieve mutual interests and sustainable prosperity for both countries.”

For his part, the Minister of Energy and Infrastructure, Suhail bin Mohammed Faraj Faris Al Mazrouei, said: “The Comprehensive Economic Partnership Agreement between the UAE and Jordan constitutes a prominent development in relations between the two countries, as it opens important horizons for cooperation in the most important sectors, including energy and public utilities. The “Comprehensive Strategic Plan for the Energy Sector in Jordan 2020-2030” is closely aligned with our vision and goals, and has so far achieved tremendous benefits for Jordan. Approximately 29% of the electricity network in the Kingdom now operates with solar or wind energy, which confirms the possibility of developing new forms of energy exports, which enables sustainable growth in the long term.”

The Minister of Industry and Advanced Technology, Dr. Sultan bin Ahmed Al Jaber, stressed that “the Comprehensive Economic Partnership Agreement between the UAE and the sisterly Hashemite Kingdom of Jordan opens broad horizons for cooperation across a range of sectors, including industry and technology.” This agreement comes in line with the vision of the leadership in the UAE to continuously work to strengthen cooperative relations with brothers and friends in a way that supports sustainable economic and social development efforts. We are confident that this agreement will have a major and important role in enhancing economic growth through cooperation in various sectors.”

The Minister of Economy, Abdullah bin Touq Al Marri, said: “The Comprehensive Economic Partnership Agreements Program constitutes a major element within the UAE’s vision to enhance its position as an attractive and influential global economic center, access new markets, increase investment opportunities, embrace innovation, and improve the competitiveness of our products and services, in a way that supports… The competitiveness of our national economy at the regional and global levels, and in line with the goals of (We Are the Emirates Vision 2031).”