Page 631 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/18/24, 9:45 AM CEPA with Jordan strategic leap for trade, investment, say UAE officials
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.

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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 services, and agriculture.

Mohamed Hassan Alsuwaidi, Minister of Investment, said, "As the UAE embarks on an ambitious growth
agenda focused on strategic investments in high-potential sectors globally, Jordan stands out as a

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