The UAE-Jordan Joint Economic Committee concluded its first meeting in Abu Dhabi by signing three MoUs.

Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Amer Al Hadidi, Jordanian Minister of Trade and Industry, signed the MoUs.

The key recommendations include ways of cooperation between the UAE and Jordan in the fields of economy, trade, investments, industry, agriculture, energy, geology, tourism and communications.

The first MoU is aimed at enhancing cooperation in the domain of standardisation and measurements; the second aims to encourage exports between the two countries and the third promotes cooperation between the Chambers of Commerce in both countries.

The UAE will evaluate applications for funding from Jordan to offer loans from the Abu Dhabi Fund for Development.

Both parties agreed to exert efforts to increase bilateral trade and agreed to form a follow-up committee to facilitate stronger trade between the countries. They also discussed a proposal for establishing free zones for trade.

Both sides agreed to exchange laws and regulations related to export and imports and update on the status of the markets to help entrepreneurs identify opportunities and enhance the participation of the private sector.

On supporting industries, they agreed to organise field visits to develop the small and medium businesses sector, and to sign an MoU to support this vital sector.

The Jordanian delegation welcomed the idea of establishing a representative office of the UAE in Jordan to follow up on the UAE’s investment projects in Jordan. The kingdom will also strengthen agricultural exports.

Both parties also agreed to enhance cooperation in tourism based on the agreement signed by the two countries in May 2005. They also discussed cooperation in the fields of communications.

Non-oil trade exchange between the UAE and Jordan has increased from $390 million in 2003 to $423 million in 2007.-TradeArabia News Service