Jordan, UAE sign three-year agreement to support innovation, R&D, SMEs

Published November 29th, 2015 - 05:21 GMT

The UAE Ministry of Economy and the Jordanian Ministry of Industry, Trade and Supplies have signed a memorandum of understanding envisaging a wide-ranging cooperation between the two countries in the fields of innovation and research, and developing small and medium enterprises.

The three-year agreement, which consists of 13 clauses, aims to build a long-term strategic alliance between the two sides.

The MoU was signed in Amman by UAE Minister of Economy Sultan bin Saeed Al Mansouri and Jordanian Minister of Industry, Trade and Supplies Maha Ali during the UAE-Jordan Economic Forum, in the presence of Dr Abdullah Al Nasour, Prime Minister of Jordan.

The MoU reflects the desire of both countries to set up a reciprocally-beneficial network of business cooperation for young entrepreneurs running SMEs. Both countries are also cooperating in the exchange of knowledge and expertise among relevant government departments.

Al Mansouri said that the MoU is consistent with the directives of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, and in line with the UAE Cabinet's announcement of 2015 as the UAE Year of Innovation. "This MoU is part of our efforts to actualise the National Strategy for Innovation that His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched last year. Shaikh Mohammed has stressed the need to deepen cultural innovation nationwide."


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