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Jordan, Egypt sign seven deals, address outstanding issues

Two partners agree to set up joint investment board representing targeted sectors

By JT - Jul 27,2017 - Last updated at Jul 27,2017

AMMAN — Jordan and Egypt on Thursday agreed during the meetings of the 27th Jordanian-Egyptian Higher Committee, which took place in Amman, to increase bilateral cooperation in all fields, the Jordan News Agency, Petra, reported. 

Co-chairing, Prime Minister Hani Mulki and his Egyptian counterpart Sherif Ismail went over the latest developments in the region, especially the situation in Jerusalem and Al Aqsa Mosque, stating that both sides affirmed that they were closely following the decisions of the Israeli government regarding
the crisis there. 

During the meetings, which were attended by several ministers and officials from both sides, the two sides agreed to take all measures that would enhance trade exchange between the two countries, facilitate flow of investment, establish joint ventures and remove any obstacles facing cooperation.

They also agreed to form an Egyptian-Jordanian investment coordination council, which will comprise a group of investors representing an array of sectors, including agriculture, industry and services. Meetings, it was agreed, will be held alternately in both countries.

They also agreed to renew the agreement signed between the two countries on reducing the transit fees of ships through the Suez Canal serving the port of Aqaba.

The two sides stressed the facilitation of procedures for the entry of Jordanian medicines to Egypt before the end of this year and to increase the number of Jordanian medicines registered in the Egyptian market from 32 varieties to 60, while they would  revisit the pricing of Egyptian medicines on the Jordanian market.

They also agreed to set up a $1-million exhibition for the direct sale of products of the two countries and the establishment of an exhibition of Dead Sea products in Cairo.

The two sides also agreed to extend the agreement on increasing the number of seats for flights between Amman and Cairo for one year and evaluate the situation prior to holding the 28th session of the Jordanian-Egyptian Higher Committee.

They stressed the importance of joint marketing of tourist and archaeological areas in both countries and the importance of considering Taba, close to Aqaba on the coast of the Red Sea, an official border crossing between the two countries.

Mulki expressed his pride over what was agreed on during the 26th session of this committee for ways to enhance trade exchange, and that total trade exchange between the two countries during 2016 amounted to $550 million and $200 million until the first third of this year.

For his part, Ismail conveyed the greetings of President Abdel Fattah Al Sisi to His Majesty King Abdullah and to Mulki and his best wishes to Jordan and its people.

He pointed out that the Jordanian investments in Egypt, up to the beginning of this year, amounted to about $526 million, and that the Egyptian investments in Jordan reached to $310 million by the end of 2016. He noted that these numbers do not rise to the level aspired to and that they will work to increase them.

At the conclusion of the meetings, in the presence of the two prime ministers, the two countries signed seven memorandums of understanding (MoU) and an executive programme.

They include: an MoU for the establishment of a joint committee for consular affairs, an MoU on port coordination between Aqaba and Nuweiba, an MoU on joint cooperation between the Jordanian and Egyptian stock exchanges, an MoU on cooperation in the field of supporting and developing small businesses, an MoU for the exchange of expertise between the Ministry of Planning and International Cooperation in Jordan and the Ministry of International Cooperation in Egypt, an MoU on social affairs and an executive programme in the field of higher education for the years 2017-2020.


Also on Thursday, HRH Prince Feisal, the Regent, met with Ismail and discussed with him means of enhancing and developing the bilateral ties between the two countries, especially their cooperation in the fields of joint ventures, investments, development of small and medium industries, exports, protection of national production, specifications, standards and customs, among others, a Royal Court statement said. 

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