Khaberni - The government of the Hashemite Kingdom of Jordan and the government of the Republic of Korea signed an economic and trade cooperation agreement on Monday, an important step that reflects the depth of the bilateral relations between the two friendly countries, and confirms their joint commitment to enhancing their economic partnership and developing prospects for cooperation in various fields of mutual interest.
The agreement was signed on the Jordanian side by the Minister of Industry, Trade and Supply Yarub Qudah, and on the Korean side by its Ambassador to the Kingdom, Byoung Kim.
Qudah expressed his pride in this agreement, as Jordan is keen on enhancing its economic and trade relations with the Republic of Korea and expanding the areas of cooperation between the public and private sectors in both countries, in a way that achieves their common interests and supports sustainable economic development.
The Korean Ambassador to Jordan also expressed his pleasure with the signing of this agreement and the importance of enhancing the economic partnership between the Republic of Korea and the Hashemite Kingdom of Jordan, and expanding cooperation in various sectors, which will positively reflect on the volume of trade exchange and mutual investment opportunities.
This agreement provides a modern and comprehensive framework for organizing and developing economic and trade relations between the two countries, replacing the trade agreement signed between them in 1972, reflecting the significant development of economic relations over the past decades, and aiming to expand areas of cooperation in line with global economic changes.
The areas of cooperation between the two countries have expanded to include various sectors, most notably apparel, pharmaceutical industries, chemical products, and other industrial goods, which reflects the diversity of the economic cooperation base and the presence of promising opportunities for further expansion in the future.
The agreement aims to enhance trade and investment exchange between the two countries, by providing an organized institutional framework for cooperation, covering areas of trade in goods and services, industrial cooperation, encouraging investment, and exchanging experiences and policies in economic and developmental policies.
The agreement also provides for the establishment of the Joint Jordanian-Korean Committee for Economic and Trade Cooperation, which will serve as a main platform to enhance economic relations on the basis of mutual benefit, expand areas of cooperation in trade, industry, and services sectors, and explore new cooperation opportunities, in addition to consulting on any challenges that may face the evolution of economic relations between the two countries.
It is expected that this agreement will enhance the business environment, increase the volume of trade exchange, and stimulate joint investments, thereby supporting the achievement of sustainable economic development in both countries, and opening broader prospects for a long-term strategic economic partnership.
