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UAE, Jordan Discuss Means of Bolstering Economic Cooperation

UAE, Jordan Discuss Means of Bolstering Economic Cooperation

Sunday, 6 June, 2021 - 07:45
Part of the virtual meetings between UAE-Jordanian officials to discuss economic cooperation (WAM)

The UAE and Jordan have agreed on a joint plan of work that creates new opportunities to boost the economy in various fields including trade and investment.

The Jordanian-UAE Joint Economic Committee headed by Minister of Industry, Trade and Supply Maha Ali and the United Arab Emirates Minister of Economy Abdulla Bin Touq Al Marri held a virtual meeting Saturday to discuss several issues to boost economic cooperation between the two countries in trade, investment, and other fields.

According to a statement issued by the Ministry of Industry, Trade and Supply talks followed a series of meetings of technical teams from the two ministries via video conferencing, underlining the strong relations and continued efforts to further enhance relations and maximize available opportunities.

Marri said that these meetings are highly significant as they coincide with the gradual return of normal life and the recovery of the economy.

Talks covered the development of a plan of work for the creation of investment projects.

The focus will be on increasing trade, diversifying products, and developing partnerships in logistics, tourism, and entrepreneurship sectors as well as technology.

Non-oil foreign trade between the two countries reached $2.24 billion in 2020.

Notably, the UAE is among the five biggest partners of Jordan when it comes to non-oil trade. Also, Jordan is a key partner to the UAE, accounting for 7 percent of UAE's overall non-oil trade with the Arab countries.

As for investments, the value of mutual investments is estimated at $20 billion.

UAE Minister of State for Foreign Trade Thani Al Zeyoudi, who attended the meetings, reaffirmed the UAE's keen interest in enhancing economic relations with Jordan.

For its part, Ali recalled previous successful projects that were achieved in cooperation between Jordan and the UAE.

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