New era unfolds between UAE, Jordan economic cooperation
The Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and the Hashemite Kingdom of Jordan will officially come into effect today (Thursday), heralding a new era of economic cooperation.
This landmark agreement is the first CEPA signed between the UAE and an Arab nation, aimed at enhancing trade and investment ties, stimulating growth in key sectors, and empowering small and medium-sized enterprises (SMEs).
With the CEPA entering into force today, the two nations aim to boost bilateral non-oil trade to over $8 billion by 2032. This follows impressive year-on-year growth between 2023 and 2024 of 34.1 per cent, with non-oil trade between the two nations reaching approximately US$5.62 billion in 2024. This agreement will eliminate or reduce tariffs and remove trade barriers, enhancing market access and strengthening regional and global supply chains.
Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, stated, 'This agreement signifies a new era of collaboration, enhancing our economic ties and creating a framework for shared growth and prosperity. Jordan has long been a valued partner for the UAE, and through this CEPA, we are poised to unlock numerous opportunities that will benefit both nations.' Jordan has been a vital partner for the UAE for many years, with bilateral non-oil trade experiencing tremendous growth over the last decade, increasing by 138 per cent. The UAE is Jordan's fifth-largest trading partner globally, while the UAE remains the largest foreign investor in Jordan, with mutual investments estimated at approximately $22.5 billion.
The CEPA is expected to create significant opportunities across various sectors, including renewable energy, pharmaceuticals, logistics, and tourism. Jordan's highly-skilled workforce and strong industrial base, particularly in the production of phosphates, textiles, and pharmaceuticals, complements the UAE's expertise in energy, infrastructure, and finance, fostering a collaborative environment that enhances the global reach of both nations.
The agreement was finalized following three rounds of negotiations, highlighting the shared commitment of both countries to quickly realise the benefits of the new agreement. The CEPA will also support SMEs by reducing trade restrictions and offering platforms for collaboration that will empower the next generation of entrepreneurs and innovators and ensure that the economic benefits are widely shared.
The CEPA programme is a vital element of the UAE's economic growth strategy, highlighting its commitment to establishing strong global trade partnerships. The UAE aims to double its economy to $800 billion by 2030 and achieve over US$1.1 trillion in total non-oil trade value by 2031.
The programme significantly contributed to the UAE's record non-oil trade of US$816 billion in 2024, reflecting a 14.6 per cent increase from 2023. With 27 concluded agreements, the CEPA programme expands access for UAE businesses to over a quarter of the world's population.
Meanwhile, the Sharjah Chamber of Commerce and Industry (SCCI) engaged in high-level discussions with a diplomatic and economic delegation from the Hashemite Kingdom of Jordan in the beginning of this year to explore new avenues for trade and investment cooperation.
The discussions focused on enhancing private sector communication, increasing investments, and exploring opportunities through organising business forums and networking events that bring together top entrepreneurs from both sides. These efforts are expected to forge new partnerships, strengthen economic ties, and boost trade exchange between the two countries.
The discussions took place during a meeting, at SCCI's headquarters, between Abdallah Sultan Al Owais, Chairman of SCCI, and Asem Mohamed Ababneh, Consul General of the Hashemite Kingdom of Jordan in Dubai and the Northern Emirates, along with Khalil HajjTawfiq, Chairman of Amman Chamber of Commerce (ACC).
The meeting was attended by Mohammed Ahmed Amin Al-Awadi, SCCI's Director-General; Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI, and Dr. Fatema Khalifa Al Muqarrab, Director of International Relations at SCCI, as well as several key officials from both sides.
During the meeting, both sides agreed to activate the joint cooperation agreement signed between SCCI and ACC, while facilitating economic delegation visits to elevate commercial relations.
Discussions also centered on encouraging investments, enhancing trade exchange, and increasing the participation of Jordanian companies in exhibitions held at Expo Centre Sharjah. Supported by SCCI, these events span various economic and commercial sectors and attract substantial regional and international engagement.
Abdallah Sultan Al Owais extended a warm welcome to the Jordanian delegation, emphasising the strong fraternal and strategic relations between the UAE and Jordan and the remarkable development and growth these relations have witnessed, particularly in the economic sphere.
He noted that the UAE ranks as the largest international investor in Jordan, with total investments surpassing $4 billion by the end of 2023, representing 14% of Jordan's total foreign direct investment.
wam
The Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and the Hashemite Kingdom of Jordan will officially come into effect today (Thursday), heralding a new era of economic cooperation.
This landmark agreement is the first CEPA signed between the UAE and an Arab nation, aimed at enhancing trade and investment ties, stimulating growth in key sectors, and empowering small and medium-sized enterprises (SMEs).
With the CEPA entering into force today, the two nations aim to boost bilateral non-oil trade to over $8 billion by 2032. This follows impressive year-on-year growth between 2023 and 2024 of 34.1 per cent, with non-oil trade between the two nations reaching approximately US$5.62 billion in 2024. This agreement will eliminate or reduce tariffs and remove trade barriers, enhancing market access and strengthening regional and global supply chains.
Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, stated, 'This agreement signifies a new era of collaboration, enhancing our economic ties and creating a framework for shared growth and prosperity. Jordan has long been a valued partner for the UAE, and through this CEPA, we are poised to unlock numerous opportunities that will benefit both nations.' Jordan has been a vital partner for the UAE for many years, with bilateral non-oil trade experiencing tremendous growth over the last decade, increasing by 138 per cent. The UAE is Jordan's fifth-largest trading partner globally, while the UAE remains the largest foreign investor in Jordan, with mutual investments estimated at approximately $22.5 billion.
The CEPA is expected to create significant opportunities across various sectors, including renewable energy, pharmaceuticals, logistics, and tourism. Jordan's highly-skilled workforce and strong industrial base, particularly in the production of phosphates, textiles, and pharmaceuticals, complements the UAE's expertise in energy, infrastructure, and finance, fostering a collaborative environment that enhances the global reach of both nations.
The agreement was finalized following three rounds of negotiations, highlighting the shared commitment of both countries to quickly realise the benefits of the new agreement. The CEPA will also support SMEs by reducing trade restrictions and offering platforms for collaboration that will empower the next generation of entrepreneurs and innovators and ensure that the economic benefits are widely shared.
The CEPA programme is a vital element of the UAE's economic growth strategy, highlighting its commitment to establishing strong global trade partnerships. The UAE aims to double its economy to $800 billion by 2030 and achieve over US$1.1 trillion in total non-oil trade value by 2031.
The programme significantly contributed to the UAE's record non-oil trade of US$816 billion in 2024, reflecting a 14.6 per cent increase from 2023. With 27 concluded agreements, the CEPA programme expands access for UAE businesses to over a quarter of the world's population.
Meanwhile, the Sharjah Chamber of Commerce and Industry (SCCI) engaged in high-level discussions with a diplomatic and economic delegation from the Hashemite Kingdom of Jordan in the beginning of this year to explore new avenues for trade and investment cooperation.
The discussions focused on enhancing private sector communication, increasing investments, and exploring opportunities through organising business forums and networking events that bring together top entrepreneurs from both sides. These efforts are expected to forge new partnerships, strengthen economic ties, and boost trade exchange between the two countries.
The discussions took place during a meeting, at SCCI's headquarters, between Abdallah Sultan Al Owais, Chairman of SCCI, and Asem Mohamed Ababneh, Consul General of the Hashemite Kingdom of Jordan in Dubai and the Northern Emirates, along with Khalil HajjTawfiq, Chairman of Amman Chamber of Commerce (ACC).
The meeting was attended by Mohammed Ahmed Amin Al-Awadi, SCCI's Director-General; Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI, and Dr. Fatema Khalifa Al Muqarrab, Director of International Relations at SCCI, as well as several key officials from both sides.
During the meeting, both sides agreed to activate the joint cooperation agreement signed between SCCI and ACC, while facilitating economic delegation visits to elevate commercial relations.
Discussions also centered on encouraging investments, enhancing trade exchange, and increasing the participation of Jordanian companies in exhibitions held at Expo Centre Sharjah. Supported by SCCI, these events span various economic and commercial sectors and attract substantial regional and international engagement.
Abdallah Sultan Al Owais extended a warm welcome to the Jordanian delegation, emphasising the strong fraternal and strategic relations between the UAE and Jordan and the remarkable development and growth these relations have witnessed, particularly in the economic sphere.
He noted that the UAE ranks as the largest international investor in Jordan, with total investments surpassing $4 billion by the end of 2023, representing 14% of Jordan's total foreign direct investment.
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