UAE, Jordan in strategic alliance to boost regional trade

DUBAI - Dubai Export Development Corporation (EDC) has signed a Memorandum of Understanding (MoU) with the Jordanian Enterprise Development Corporation to create strategic alliances and to strengthen opportunities for local and regional exports between the UAE and Jordan.

By (Wam)

Published: Sat 11 Apr 2009, 7:46 PM

Last updated: Thu 2 Apr 2015, 9:14 AM

The MoU between the two organisations is aimed at supporting the Middle East economy and to look for alternative markets across the world during the current financial crisis. This initiative seeks to establish a framework of finding solutions to enter and promote products from the UAE and Jordan to other regions.

Signed by Engineer Saed Al Awadi, Chief Executive Officer, EDC and Engineer Yaroub Qudah, Chief Executive Officer, Jordanian Enterprise Development Corporation, the MoU will define areas of cooperation including trade development, country-specific projects, export opportunities, exhibition participation and training activities.

'One of EDC's missions is to develop trade relations between Arabic countries. Our MoU with the Jordanian Corporation will open direct channels linking the two nations and eventually support trade opportunities. We are working on opening a direct communication involving the Emirati and Jordanian businessmen across various sectors,' said Al Awadi.

'Through the MoU, we will organise a series of meetings for both countries hoping to collaborate promotional plans to introduce our products to Jordan and vice versa. We believe that the solution to this current crisis lies with the continuous cooperation of Arabic countries,' he added.

Part of the MoU is the exchange of trade and industrial information between the UAE and Jordan markets including advisory information on their current economic situation and commercial data. Additionally, there will be an exchange of information on foreign trade legislation and programme of supply and distribution channels as well as tax arrangements between the two countries.

'It is important for government agencies to coordinate with the same institution such as EDC to discuss potential trade between our countries. Through this partnership, we are acknowledging the vast potential for collaboration across a number of areas with EDC. The Jordanian and the UAE economies enjoy complementary characteristics and this MoU specifically defines areas where both organisations can continue to focus efforts to increase cooperation and subsequent opportunities,' said Al Qudah.

'The Jordanian Corporation is always on the lookout to enhance and make proactive relations with our neighbouring countries. This MoU will help identify and implement projects that will prove beneficial to economic growth, and opening of new channels for the local products of Jordan and the UAE,' he further added.

The Jordanian Corporation for Economic '&' Projects Development plays a big role to develop the competitive markets between industrial Jordanian companies. The corporation also works on managing export strategies to increase the volume of the Jordanian exports to the international and global markets.

EDC is looking to increase the contribution of the export sector to the Gross Domestic Product (GDP) of the UAE by carrying out various plans and programmes to consolidate the cooperation and relations with different regional and international institutions.

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