Joint Egyptian-Jordanian Higher Committees enhance bilateral trade to $514M in 9 months

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Mon, 22 Mar 2021 - 03:31 GMT

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Mon, 22 Mar 2021 - 03:31 GMT

Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song

Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song

CAIRO – 22 March 2021: Volume of trade exchange between Egypt, Jordon during the first 9 months of 2020 amounted to about $514 million as one of the results of the Joint Egyptian-Jordanian Higher Committees, according to the International Cooperation Ministry.

 

The ministry stated that Jordan also ranked 24th among the countries that invested the most in Egypt with a portfolio encompassing 2,274 companies, until the end of December 2019. 

 

Jordanian investments are mostly in the industrial and services sectors, followed by the construction, agricultural and tourism sectors.

 

The Joint Egyptian-Jordanian Higher Committee is considered one of the committees that is regular in its meetings ever since its launch in 1985. The  joint committee plays an important role in promoting bilateral cooperation at all levels between Egypt and Jordan: 28 sessions were held in the past 4 decades, resulting in 147 signed protocols, agreements and cooperation documents covering various sectors. 

 

The aforementioned agreements were largely reflected in the economic, commercial, investment and cultural indicators between the two countries, as a number of technical committees across various fields have collaborated to regulate the workflow and solve issues that may hinder efforts in strengthening joint cooperation relations. 

 

Early this week, the 29th Joint Egyptian-Jordanian Higher Committee meetings began in Amman, the Jordanian capital. Expert meetings were held on Saturday and Sunday, and preparatory meetings at the ministerial level were held this morning on March 22, headed by Egypt’s Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat and Jordan’s Minister of Industry, Trade and Supply, Eng. Maha Ali. The Joint Higher Committee is scheduled to convene on Tuesday headed by the Egyptian Prime Minister Moustafa Madbouly and Jordanian Prime Minister Bisher Al Khasawneh. 

 

In the past 28 sessions of the Joint Egyptian-Jordanian Higher Committee, the last of which was held in Cairo in July 2019, 147 cooperation documents were signed, aiming to strengthen the Egyptian-Jordanian relations across different sectors. This includes 44 protocols, agreements, and memorandums of understanding in the Economic, Commercial, Technical and Financial Cooperation, and Investment Promotion and Protection sectors: 5 in the Agriculture Sector, 7 in the Electricity and Renewable Energy Sector, 4 in the Petroleum and Natural Gas Sector, and other cooperation agreements in the industry, administrative development, youth and sports, judiciary, manpower, housing, tourism, health, transportation,  communications and information technology, and education sectors.

 

It is expected that the 29th Joint Egyptian-Jordanian Higher Committee will witness strengthened cooperation agreements, alongside an exchange of expertise, between Egypt and Jordan in the electricity, water resources, antiquities, and company monitoring sectors and fields, alongside other areas of common interest. 

 

The Joint Higher Committees is considered one of the most important tools for economic diplomacy at the Ministry of International Cooperation. It is also the most effective one for establishing new bilateral cooperation between the Arab Republic of Egypt and neighboring Arab countries. The Ministry of International Cooperation supervises the preparation and organization of these committees at the ministerial and expert level.

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