Page 741 - MOE ENGLISH PR REPORT - OCTOBER 2024
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10/18/24, 9:21 AM UAE ranks 5th largest global trading partner of Jordan with $4.2 billion in 2023: Thani Al Zeyoudi
Speaking to the Emirates News Agency (WAM) on the occasion of the signing of
the Comprehensive Economic Partnership Agreement between the UAE and Jordan,
Al Zeyoudi stated that the agreement followed a series of negotiations and
coordination meetings held in a short period.
"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."
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.
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