Jordan-UAE forum explores joint business opportunities

AMMAN — Prime Minister Abdullah Ensour on Wednesday inaugurated the Jordan-UAE Economic Forum, which seeks to bolster economic and trade relations between the two countries.

The Ministry of Industry, Trade and Supply, which organised the event in cooperation with the Jordan Chamber of Industry, signed a memorandum of understanding with the UAE economy ministry aimed at enhancing cooperation in innovation, small- and medium-sized enterprises, and research and development activities. 

Trade Minister Maha Ali expressed hope that the forum would highlight opportunities and potential joint investment ventures, noting that the value of UAE investments in Jordan stands at $15 billion across sectors including agriculture, industry, and tourism, in addition to the Marsa Zayed development project in Aqaba.

The minister noted that the UAE is the top destination for Jordanian investors, receiving 22 per cent of the Kingdom's total investments abroad at a total value of some $1 billion, according to a ministry statement e-mailed to The Jordan Times.

UAE Minister of Economy Sultan Bin Saeed Al Mansouri said Jordan is a strategic partner for his country in all fields, stressing that the forum is an expression of the two countries' keenness and commitment to enhance bilateral relations, the statement said.

The volume of bilateral trade amounted to JD579 million in 2014, he added, noting that there are 90 flights between the two countries each week. 

More than 170,000 Jordanians work in various sectors and professions in the UAE and they are the most law-abiding group among the various nationalities in his country, the statement quoted the UAE minister as saying.

Mansouri also called on the public and private sectors in both countries to work as one team to achieve a leap in their economic progress.

Jordan has received $1.4 billion in grants from the UAE, either from the government or from the Abu Dhabi Fund for Development, according to the statement. 

Also on Wednesday, Ensour met with Mansouri and said Jordan is looking forward to receiving more UAE investments, the Jordan News Agency, Petra, reported. 

Mansouri voiced his country’s interest in boosting bilateral economic and commercial cooperation. 

Ali met separately with the Emirati official and stressed the importance of cooperation to reach foreign markets, especially in Africa.