Page 649 - MOE ENGLISH PR REPORT - OCTOBER 2024
P. 649
10/18/24, 9:55 AM UAE ranks 5th largest global trading partner of Jordan with $4.2bln in 2023: Thani Al Zeyoudi
“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.”
ADVERTISING
He added that the agreement offers further growth opportunities for businesses, young entrepreneurs,
and start-ups in both countries and will boost bilateral trade to exceed US$8 billion by 2032, fulfilling the
ambitions and interests of the two brotherly nations.
Al Zeyoudi pointed out that non-oil trade between the UAE and Jordan in 2023 surpassed US$4.2 billion,
registering a 37.9 percent increase compared to 2021 and a 47.7 percent rise since 2019. Non-oil
bilateral trade grew by 138 percent over the past decade, positioning the UAE as the fifth-largest global
trading partner of Jordan.
He also highlighted that mutual investments between the UAE and Jordan are estimated at around
US$22.5 billion, with the UAE being the largest international investor in Jordan. By the end of last year,
UAE investments in Jordan exceeded US$4 billion, representing 14 percent of the Kingdom's total
foreign direct investment.
Al Zeyoudi emphasised that the CEPA between the UAE and Jordan will strengthen bilateral trade and
investment relations, accelerate growth in priority sectors, create jobs, enhance supply chains, and
boost global competitiveness. Additionally, it will allow both countries to leverage their global trade
networks to expand into new markets, delivering mutual benefits.
He noted that the UAE and Jordan share expertise in key sectors such as energy, infrastructure,
transport, and finance. Jordan also has a robust industrial base, particularly in the production of
phosphate, textiles, and pharmaceuticals.
He explained that promising areas for investment flows between the UAE and Jordan span tourism,
hospitality, real estate, renewable energy, transport, logistics, manufacturing, pharmaceuticals, and food
security.
https://www.zawya.com/en/economy/gcc/uae-ranks-5th-largest-global-trading-partner-of-jordan-with-42bln-in-2023-thani-al-zeyoudi-yo74dncs 2/3
