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.

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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.