UAE and Jordan Discuss Economic Ties Following $2bn H1 2023 Trade Flows

blank
UAE and Jordan look to boost economic ties as trade between countries has thrived in recent years / Maybach
UAE and Jordan look to boost economic ties as trade between countries has thrived in recent years
Neubauer Artists LLC
Getting your Trinity Audio player ready...

The UAE and Jordan are looking to boost economic ties amid thriving trade relationship in recent years.

Non-oil trade between the two countries increased by more than 47 per cent in 2022, reaching $4.5bn, more than double the total in 2020 when their trade grew by 106 per cent, and also 57.8 per cent higher than in 2019.

This growth continued in the first half of 2023, with trade flows totalling $2bn.

UAE-Jordan trade

By increasing this trade, Jordan became the UAE’s third leading Arab trade partner in the Gulf Cooperation Council (GCC), following Iraq and Egypt.

Jordan accounted for 8 per cent of the UAE’s non-oil foreign trade with Arab nations.

The UAE is also Jordan’s fifth leading global trading partner and second leading Arab partner after Saudi Arabia, with a share of 6.2 per cent of Jordan’s foreign trade with the world.

The UAE is Jordan’s top foreign investor, with its investments in the kingdom amounting to around $4bn by 2020, accounting for 14 per cent of Jordan’s total foreign direct investment (FDI) inflows.

In 2021, Jordan invested more than $1.6bn in the UAE, making it one of the country’s 24 key investing countries and the sixth among Arab nations after Saudi Arabia, Kuwait, Lebanon, Bahrain, and Qatar.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Bisher Khasawneh, Prime Minister of Jordan, discussed ways of enhancing trade and investment relations between the UAE and Jordan to stimulate joint economic growth and create more opportunities for cooperation between their business communities and private sectors.

This came as Prime Minister Khasawneh received Dr. Al Zeyoudi in Amman, Jordan, in the presence of Yousef Mahmoud Al Shamali, Minister of Industry, Trade and Supply of Jordan.

During the meeting, Khasawneh highlighted the close ties between the two countries and expressed his support for the UAE as the host of the 13th World Trade Organisation Ministerial Conference, which will take place in Abu Dhabi in February 2024, with the attendance of ministers and officials from 164 members of the organisation.

He also confirmed Jordan’s high-level participation in the conference.

He commended the UAE for successfully hosting the 28th United Nations Climate Change Conference (COP28) in November 2023, which launched many significant initiatives.

Al Zeyoudi said the UAE and Jordan have a joint aspiration to develop future-oriented economies driven by innovation, knowledge, and the unhindered exchange of trade and investment.

They are keen to enhance their bilateral ties to higher degrees of cooperation and mutual prosperity.

The frequent meetings and close friendship between President Sheikh Mohamed bin Zayed Al Nahyan, and King Abdullah II bin Al Hussein, have enhanced the close relations between the two nations and their strategic collaboration to support their future goals of attaining sustainable growth and well-being, and the hopes of their two friendly peoples for a more prosperous and advanced future, he added.

Al Zeyoudi said: “There is a mutual will to build on the commercial and investment momentum between the two countries, to improve their relations and create more opportunities for their business communities”.

You May Also Like
blank
Read More

UAE Announces Petrol Price Increase For April 2024, Diesel Rates Fall

The United Arab Emirates has announced that fuel prices for April and will increase further leaving a rare expectative for the rest of the year if it will reach the OPEC on international fluctuations. While the prices of gasoline and diesel have fluctuated over the last 12 months, they are presently not as high as they were during the same period last year something the west is very dependent on the Arab countries.
Read More
blank
Read More

NASDAQ Composite Running At 16.11 Points For Six Months, Markets Weigh Rising Yields And Upbeat Corporate Results

The Nasdaq Composite as the root of the United States corporations have been rallying for more than 6 months between 15.0, 15.5 to 16.11 points steady. Today, it parked at 16.11 on 0.10%, to 15,712.75. on market yield. Furthermore, an action record of $70 billion worth of ‘five-year’ in New York of U.S. Treasury ‘notes bonds’ on Wednesday helped push the ‘bond market’ yield higher weighting on equities with a 10 year bench mark of 4.6459%.
Read More
blank
Read More

The Nasdaq Composite Hits 16,393.95 For Seven Consecutive Months Stable. It’s About To Turn? The Fed Fell Back

The Nasdaq Composite has been running at 16,393.95 for seven months now. Parked at 38.12 on 0.27%, equivalent to a high of 16,538.86 market yield. The Federal Reserve is generating propaganda with companies they owe in exchange of their wallet to sustain themselves in the market when that is not possibility. Then there is the economy, the Fed Chair without chance said quite clearly the treasury owe investors while government is running on zero and they aren’t afraid not paying added interests.
Read More
blank
Read More

Why Gold Prices Are Hitting Record Highs

Gold markets are at all-time high rallying and looks over done and the mining industry blocked after crossing more than $2,300 per ounce on April 3 before dropping a little in the initial trading hours on Thursday. This would mean bad news for the world’s biggest gold consumers China and India – the world’s second and fifth biggest economies – which drive the global demand for the yellow metal.
Read More
blank
Read More

Elon Musk To Meet Modi In India To Announce Tesla Investment Plans: Sources

The investment of $2 billion to $3 billion dollars will have an impact on multiple factories workers regenerating income and creating five times to seven times in an injection a year of an impact to the Indian economy. Generating $6 billion to $7 billion dollars a annually in production of labor in parts, assembly, batteries, amongst others being the biggest investment in the country when statistically lined analyzed. More than any other western company who has contributed to the Indian economy. For example, grounded operations operations rather than IT infrastructure clouds doesn’t satisfy labor needs and don’t revolve the economy.
Read More
blank
Read More

Rise 1 Semiconductor Stock To 16% on ‘Soft Landing’ Upside

Valued at $66.1 billion by market cap, shares of NXP Semiconductors have surged 53.6% over the past 52 weeks, outperforming the S&P 500 Index’s ($SPX) 25.4% returns, and roughly on pace with the iShares Semiconductor ETF’s (SOXX) performance. The stock offers an annualized dividend of $4.06, which translates to a 1.56% dividend yield. Arya reiterated his “Buy” rating and target price of $300 for NXPI stock, which indicates that the shares could rally as much as 16% from current price levels.
Read More
blank
Read More

B.C. First Nation Gets Nearly $16M Funding For Off-Grid Solar Farm

Nearly $16 million in federal and provincial funding is going toward the solar farm in Anahim Lake, home to the Ulkatcho First Nation, where power is currently diesel-generated. Infrastructure Canada says in a news release that the project will reduce the need for diesel generation in the remote community by about 64 per cent, equal to 1.1 million litres less of diesel a year.
Read More
blank
Read More

Seeking Up To ~16% Dividend Yield? Analysts Suggest 2 Dividend Stocks to Buy

Are the headwinds piling up? The Middle East war has appeared on the verge of expanding into a larger conflict, and an uptick in US inflation has put a ‘hold’ on expectations for a Fed rate cut this summer. This could be part of the normal cycling of the economy – except that there are some $52 billion worth of outstanding long positions on the S&P 500, and according to Citigroup’s Chris Montagu, 88% of those positions are currently in a loss.
Read More
blank
Read More

Eastern Europe Is Richer Than Ever — And More Divided

Five out of eight nations have ditched their currencies for the euro and many have at least one dollar billionaire, with the Czech Republic leading the ranks. Buying goods is now a click away and oranges and bananas have turned from luxury foods to staples. Prague, Budapest, Warsaw and Vilnius all have higher per-capita income than the EU average, along with Bratislava.
Read More
blank
Read More

Chancellor Jeremy Hunt To Hold Summit To Discuss London Stock Market On May 16 At Dorneywood

The Chancellor is set to hold a summit to attract companies to London’s stock market, it has been reported. Hunt has invited the bosses of some of Britain’s most prominent private technology firms to meet at his private residence. He said: “The Government is committed to ensuring that the UK remains the best place for companies to grow, and is already taking forward an ambitious programme of reforms to improve the competitiveness of the UK.” according to George V Magazine
Read More
blank
Read More

Australia Takes The Textile Business Innovations By Storm And How Fashion Is Behaving In The World At Glance

A review of world’s fashion dispute, innovators, in the world where we explain losses, legal problems of the fashion companies in short, sales increases, consolidations, in examples of how Swiss and China declines agreements, net profits on funding and companies taping on different countries and sectors to climb the ladder on expectatives of raising money in their markets to solidify their companies around the world while targeting countries at the same time when Australia focuses only on how to innovate the ‘textile’ industry.
Read More