Jordan to host bilateral economic forum with the UAE

Published November 24th, 2015 - 05:51 GMT

Jordan and the UAE are set to take bilateral cooperation to the next level at the first Jordanian-Emirati economic forum this week.

For several months, officials from both countries have been preparing to hold a joint forum that institutionalises bilateral cooperation and provides a venue to discuss investment opportunities in Jordan and the UAE, according to the Ministry of Industry, Trade and Supply.

"The forum is an excellent opportunity to shed light on areas of investments, especially in renewable energy and medical tourism. We are optimistic about the ability of the forum to come up with new partnerships with the Emirati public and private sectors," the ministry's spokesperson, Yanal Barmawi, told The Jordan Times on Monday.

More than 50 government officials, heads of industry and commerce chambers and company chairpersons from the two countries will convene at the two-day event, which opens in the UAE on Wednesday.

UAE Minister of Economy Sultan Bin Saeed Al Mansouri stressed his country's commitment to fostering and raising the level of economic cooperation with Jordan in a way that serves the private sector and development of both nations, according to a statement carried on Sunday by the Jordan News Agency, Petra.

"The forum is part of the two countries' endeavours to boost bilateral ties, particularly in the areas of trade and investments, while focusing on the vital role the private sector and the business community play in pushing cooperation forward," Mansouri said.

He noted that the “huge” Emirati delegation to the forum and the various sectors its members represent reflect the “genuine will to foster trade and investment cooperation with Jordan and the commitment to enabling the private sector in the two countries to play a pivotal role in this regard”.

Minister of Industry, Trade and Supply Maha Ali will deliver an opening address on Wednesday.

Several sessions and bilateral meetings between Jordanian and Emirati businesspeople will also take place on the first day of the forum.

“The following day, a UAE delegation will visit development areas in Jordan to be acquainted with investment opportunities and incentives granted to investors,” Barmawi said.

The bilateral trade volume exceeded $1 billion last year, while Emirati investments benefiting from the Investment Law are worth $500 million.

“UAE investments in Aqaba are estimated at $10 billion,” the ministry spokesperson noted.

By Laila Azzeh

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