UAE and Jordan Ink economic agreement

At a ceremony held at Basman Palace in Amman, the agreement was signed by Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, and Yarub Falah Al-Qudah, the Minister of Industry, Trade, and Supply for Jordan.

By 2032, it is projected that bilateral trade will reach over $8 billion (AED 29 billion) because to the agreement's lowered trade barriers and non-tariff measures on goods and services.

Opportunities in a range of industries, including as manufacturing, transportation, food processing, medicines, renewable energy, and industrial projects, are projected to grow as a result of the CEPA.

“The agreement will come into effect later this year after its ratification, and will mark the culmination of a long-standing, deep-rooted relationship between the two brotherly countries and their peoples,” Al Zeyoudi said. 

Additionally, he stated that the agreement will help both countries achieve their goals and interests by raising bilateral commerce to over $8 billion (AED 29 billion) by 2032 and creating additional growth possibilities for companies, young entrepreneurs, and start-ups in both countries. The UAE and Jordan have a strong business relationship, which is strengthened by this agreement. It is estimated that non-oil commerce between the two countries will reach over $4.2 billion (AED 15.4 billion) in 2023. The two nations' non-oil trade increased by 36.8% to $2.7 billion (AED 9.9 billion) in the first half of 2024 compared to the same time in 2023.

A key component of the UAE's economic growth strategy is the CEPA program, which aims to increase market access, lower trade barriers, encourage more private sector investment and cooperation, and build trade ties with other countries.