Page 636 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/18/24, 9:46 AM CEPA with Jordan strategic leap for trade, investment, say UAE officials
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 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 promising partner in areas such as energy, manufacturing, tourism, healthcare, and real estate."

He highlighted that mutual investments between the two countries have exceeded US$22.5 billion,

reflecting the deep economic, cultural, and social ties that bind Jordan and the UAE.

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