The President of the Jordanian-European Business Association (JEBA), Ali Murad, affirmed that economic cooperation between Jordan and the European Union constitutes a significant strategic pillar that strengthens national economic growth and supports sustainable development in the Kingdom.
اضافة اعلان
In a press statement, Murad stated that the European market represents a strong opportunity to expand and diversify Jordan’s exports, particularly focusing on high value-added industries and modern technologies. He emphasized that Jordan has wide opportunities to boost its exports to European Union markets, especially in industrial and agricultural sectors.
He added that the Comprehensive Strategic Partnership Agreement signed between Jordan and the European Union in January marks a significant milestone in bilateral relations and lays the foundation for a new phase of economic and developmental cooperation.
Murad pointed out that the agreement includes a financial assistance package worth €3 billion for the years 2025-2027, encompassing grants, investments, and macroeconomic support, reflecting the EU's commitment to supporting Jordan as a strategic partner in the region.
He explained that the trade agreements between the two sides allow duty-free access for most Jordanian products, particularly agricultural products, which have been exempt from tariffs and quotas since 2006, with special arrangements for certain products such as olive oil and strawberries.
His Majesty King Abdullah II and European Commission President Ursula von der Leyen witnessed the signing of the Comprehensive Strategic Partnership Agreement between Jordan and the EU in Brussels at the end of January this year.
To support the goals of the agreement, the EU announced a €3 billion financial assistance package for Jordan for 2025-2027, including €640 million in grants, €1.4 billion in investments, and approximately €1 billion in macroeconomic support.
In July of last year, Jordan and the European Union announced their desire to elevate their relationship to a Comprehensive Strategic Partnership, building on the Association Agreement signed in 1997 and in effect since 2002.
The trade volume between Jordan and EU countries reached 3.288 billion Jordanian dinars last year, compared to 3.283 billion dinars in 2023.
National exports to the EU recorded a 4.4% increase last year, amounting to 427 million dinars compared to 409 million dinars in 2023. Meanwhile, imports from the EU to Jordan slightly declined to 2.861 billion dinars last year from 2.874 billion dinars in 2023.
Regarding investment opportunities available to European business owners in Jordan, Murad highlighted the Kingdom's promising opportunities across sectors such as renewable energy, digital transformation, tourism, education, and high value-added industries.
He noted that the €3 billion EU support package includes €1.4 billion earmarked for vital development projects in Jordan, thus enhancing the business environment and encouraging European investors to enter the local market. Jordan is actively working to improve its investment climate by simplifying procedures and developing legislation to attract foreign investments.
Murad stressed that strengthening Jordanian exports' access to European markets requires diversifying export products, increasing their value-added content, improving quality, and meeting stringent European standards. He also pointed to the need to raise exporters' awareness of European market requirements.
Other requirements he mentioned include facilitating export procedures, simplifying preferential rules of origin, enhancing public-private sector cooperation to develop value chains, leveraging existing trade agreements, and working to remove non-tariff barriers.
Murad highlighted that the European Parliament’s ratification of the €3 billion aid package is a strong indication of the EU’s commitment to supporting Jordan in facing economic and developmental challenges, reflecting the international community’s appreciation of Jordan's strategic role in the region.
He added that the support would also aid Jordan’s efforts to achieve sustainable economic growth, create job opportunities, and strengthen stability. The package also enables the financing of vital development projects in education, health, and industry, boosting Jordan’s capacity to advance its economy and confront regional challenges.
Murad emphasized that the strategic partnership between the two sides reflects a clear and integrated vision for Jordanian-European cooperation and enhances Jordan's position as a regional economic platform and a reliable partner in sustainable development.
He noted that the Jordanian-European Business Association (JEBA), established in 1995, includes a wide range of Jordanian businessmen and economic institutions among its members and plays a key role in enhancing economic cooperation between Jordan and the EU. JEBA acts as a bridge between Jordanian and European companies.
Murad highlighted JEBA’s role in organizing economic forums, trade missions, and joint workshops to showcase investment and trade opportunities in the Kingdom. JEBA also provides technical support and guidance to Jordanian companies to maximize their benefit from agreements with EU countries, while working to expand trade exchanges and strengthen strategic partnerships between the private sectors of both sides.
(Petra)
