UAE foreign trade minister and Jordanian PM discuss trade and investment cooperation

The UAE’s foreign trade minister, Thani Al-Zeyoudi, and Jordan’s Prime Minister Bisher Khasawneh met in Amman to discuss ways in which bilateral trade and investment cooperation might be strengthened.

Khasawneh highlighted the close ties between the two countries and expressed his country’s support for the UAE as host of the 13th World Trade Organization Ministerial Conference, which will be held in Abu Dhabi in February, the Emirates News Agency reported on Wednesday.

He also confirmed the high-level participation of Jordan at the conference, and congratulated the UAE for successfully hosting the UN Climate Change Conference, COP28, in November.

Al-Zeyoudi said the UAE and Jordan share a desire to build future-oriented economies based on innovation, knowledge, and free trade and investment. He added that regular meetings and the strong relationship between Emirati President Sheikh Mohammed bin Zayed Al-Nahyan and King Abdullah of Jordan have helped to strengthen bilateral relations and the strategic partnership between the two countries with the aim of achieving their aspirations for sustainable growth.

“There is a mutual will to build on the commercial and investment momentum between the two countries, to improve their relations and create more opportunities for their business communities,” Al-Zeyoudi said.

Non-oil trade between the two countries grew by more than 47 percent in 2022, reaching $4.5 billion, more than double the total in 2020, when the value of trade increased by 106 percent.

Jordan has become the UAE’s third-largest Arab economic partner, after Iraq and Egypt, accounting for 8 percent of non-oil trade with Arab countries.

The UAE is Jordan’s fifth-largest economic partner and its second-largest Arab trading partner, accounting for 6.2 percent of total foreign trade.