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10/18/24, 9:45 AM CEPA with Jordan strategic leap for trade, investment, say UAE officials – The Gulf Time Newspaper
CEPA with Jordan strategic leap for trade, investment, say

UAE officials

ABU DHABI/WAM

Several UAE ministers and officials have hailed the Comprehensive Economic Partnership Agreement (CEPA) with Jordan as
a strategic move to strengthen ties with a key economic and trade partner in the Arab region, highlighting the agreement as a
significant leap in cooperation that will benefit both nations by fostering economic growth and prosperity.
The ministers pointed out that the agreement paves the way for new opportunities in vital sectors and facilitates trade and
investment flows, boosting collaboration in areas such as industry, energy, agriculture, and food security.
Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, said that the agreement aims to stimulate bilateral trade and
enhance the competitiveness of the business ecosystems in both countries, which are key pillars of their economic visions. He
noted that Jordan, as a fast-growing economy with a strategic location at the heart of the Arab world, is an ideal regional
partner for these efforts.
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, noted, “The CEPA aligns closely with Jordan
Energy Strategy for (2020-2030) and supports the development of renewable energy, with 29 percent of Jordan’s electricity
already coming from solar and wind power.”
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, stated that the agreement aligns with the UAE
leadership’s vision of continuously strengthening cooperation with both regional and international partners in support of
sustainable economic and social development efforts.

He also explained that the agreement complements the Industrial Partnership for Sustainable Economic Growth launched in
2022 with Jordan and Egypt, which has since expanded to include more countries. This partnership offers new investment
opportunities and developmental enablers in diverse industrial sectors, including textiles, metals, pharmaceuticals,
petrochemicals, among others.
Abdulla bin Touq Al Marri, Minister of Economy, commented, “This partnership is central to our vision of positioning the UAE
as a global economic hub, expanding into new markets, and boosting our competitiveness.”
He explained that Jordan is a significant economic and trade partner in these efforts, with its real GDP projected to reach
approximately US$54 billion in 2024 and expected to grow by 3 percent over the next five years. There are numerous
opportunities to enhance cooperation in key sectors, particularly the new economy, tourism, renewable energy, financial

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