CEPA With Jordan Marks A Strategic Leap For Trade And Investment Between UAE And Jordan

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Jordan has been praised by several UAE ministers and officials. They see it as a strategic initiative to strengthen ties with an important economic partner in the Arab region. This agreement is expected to boost cooperation, fostering economic growth and prosperity for both nations.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, emphasised the agreement's role in stimulating bilateral trade. He noted that it enhances business competitiveness, which aligns with both countries' economic visions. Jordan's strategic location in the Arab world makes it an ideal partner for these efforts.

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, highlighted that CEPA aligns with Jordan's Energy Strategy for 2020-2030. It supports renewable energy development, with 29% of Jordan's electricity already sourced from solar and wind power.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, stated that the agreement complements the UAE leadership's vision of strengthening regional cooperation. It also supports sustainable economic and social development efforts through partnerships like the Industrial Partnership for Sustainable Economic Growth launched in 2022 with Jordan and Egypt.

Abdulla bin Touq Al Marri, Minister of Economy, commented on the partnership's importance in positioning the UAE as a global economic hub. He noted that Jordan is a significant partner in these efforts, with its real GDP projected to reach approximately US$54 billion in 2024.

Mohamed Hassan Alsuwaidi, Minister of Investment, remarked on mutual investments exceeding US$22.5 billion between the two countries. This reflects deep economic ties and highlights Jordan as a promising partner in sectors like energy, manufacturing, tourism, healthcare, and real estate.

Dr. Amna bint Abdullah Al Dahak Al Shamsi, Minister of Climate Change and Environment, explained that CEPA opens doors for strategic investments supporting sustainable agriculture and food production. It also helps create value chains ensuring products reach new markets across Asia through UAE logistics hubs.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, affirmed Jordan as a key trade partner for the UAE. In 2023, non-oil trade between them exceeded US$4.1 billion—a 46.1% increase compared to pre-pandemic levels in 2019.

Economic Cooperation

Khalifa Shaheen Al Marar, Minister of State, noted that CEPA enhances bilateral economic cooperation by providing new investment opportunities in energy, manufacturing, agriculture, and transportation sectors.

Ahmed Ali Al Sayegh, Minister of State, stated that CEPA aligns both nations' efforts towards sustainable growth and comprehensive development. This contributes to greater political and economic stability in the region while exploring new trade opportunities.

Khaled Mohamed Balama from the Central Bank of the UAE mentioned that CEPA offers financial cooperation opportunities by facilitating goods flow between both countries. This solidifies the UAE’s position as a global business hub.

Customs Procedures

Ahmed Abdullah bin Lahej Al Falasi from Customs at the Federal Authority for Identity highlighted how CEPA will increase bilateral trade flows by reducing tariffs and aligning customs procedures. This supports national goals to expand foreign trade significantly by 2031.

Abdulla Mohammed Al Basti from Dubai’s Executive Council noted how CEPA allows Jordanian businesses access to global markets via UAE infrastructure while expanding investment opportunities within tourism or healthcare sectors within Jordan itself.

With inputs from WAM