Page 651 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/18/24, 9:55 AM UAE-Jordan trade projected to reach $8bn after CEPA signing, minister says
Mutual investments between the UAE and Jordan are estimated at around $22.5
billion, with the Gulf country being the largest international investor in its Middle
Eastern neighbor at $4 billion, accounting for 14 percent of the Emirates’ total

foreign direct investment, stated the minister.

He added that promising areas of investments that both countries can explore

include tourism, hospitality, real estate, and renewable energy, as well as transport,
logistics, manufacturing, pharmaceuticals, and food security.

Non-oil trade between the UAE and Jordan exceeded $4.2 billion in 2023,

reflecting a 37.9 percent increase compared to 2021 and a 47.7 percent rise from
2019.

The CEPA follows a $2.3 billion agreement signed last month to develop a 360-
km railway network linking Jordan’s Aqaba port to its mining hubs at Al-Shidiya
and Ghor Al-Safi.

According to a press release, the project will be developed and operated by UAE’s
Etihad Rail and is part of a $5.5 billion investment package agreed upon by the

two countries in November 2023.

The UAE has previously signed CEPAs with countries including India, Turkiye,
Indonesia, and Cambodia, all expected to support the country’s economy, which is

projected to grow by 4 percent this year, according to a report from its central
bank last month.

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