As for the railway projects, a $2.3 billion Emirati investment memorandum was signed in Aqaba on September 4 of this year to link the port of Aqaba to the mining areas of Shidiya and Ghor Al Safi.
This memorandum is the fruit of the package of investment projects that Jordan signed with the UAE in the presence of His Majesty King Abdullah II and His Highness Sheikh Mohammed bin Zayed Al Nahyan at the end of 2023, which is worth about $5.5 billion.
With the actual start of operation, we will be able to export 16 million tons through the railway; 13 million tons of phosphate products and 3 million tons of potash products from the production areas to the port for export, and the construction of this railway will allow us to increase our logistical and export capabilities, with a volume of 16 million tons of phosphate and potash products.
Integrated Industrial Partnership for Sustainable Economic Development:
The Industrial Partnership (Jordan, UAE, Egypt) was launched in Abu Dhabi on 5/29/2022 as a translati
on of the outcomes of the trilateral summit that brought together His Majesty King Abdullah II, Egyptian President Abdel Fattah al-Sisi, and Sheikh Mohammed bin Zayed al-Nahyan.
The agreement resulted in the signing of the partnership document, which was later joined by the Kingdom of Bahrain and the Kingdom of Morocco.
The partnership aims to secure the supply chain and self-sufficiency, localization and integration of value chains, integrated value-added industries, economic development, diversification and job creation, sustainable economic development, targeted industries, agriculture, food and fertilizers, pharmaceuticals, textiles and clothing, metals, petrochemicals and plastics.
As for the renewable energy projects in cooperation with the UAE, they include the Jordan Wind Company project in Tafila (Mubasher), the Abu Dhabi Future Energy Company solar project (Masdar/Baynunah), and the memorandum of understanding with Masdar for cooperation in the field of renewable energy.
In November 2022, a memo
randum of understanding was signed between the Ministry of Energy and Mineral Resources and Abu Dhabi Future Energy Company (Masdar) to explore the possibility of investing and developing 2 GW of economically viable wind energy projects.
The 92 MW Sheikh Zayed Solar Complex in Quwaira was completed through a grant from the Abu Dhabi Fund for Development with a total investment value of $150 million, and the project is in commercial operation.
The average volume of trade exchange between Jordan and the UAE during the period 2019-2023 is about $1.5 billion, which peaked in 2022 at $2.4 billion.
As for the key commodities: Pharmaceuticals, minerals, dates, clothing, jewelry, food products, meat, vegetables, chemical products, detergents, and petroleum derivatives.
The growth rate of non-oil Intra-trade reached 118 percent during 2019_2023, which boosted Jordan’s share of the UAE’s total non-oil foreign trade with Arab countries to 8 percent, making Jordan the third Arab trading partner of the UAE.
The UAE i
s the fifth trading partner globally, and the second Arab trading partner for Jordan with a share of 6.2 percent, and 120 percent growth rate of Intra-trade during the period 2019-2023.
Source: Jordan News Agency