Jordan, Egypt agree to form investment council

The ministerial committee of the Joint Jordanian-Egyptian Higher Committee agreed to form a joint investment council and set up joint projects to enter the African market and benefit from Egypt’s membership in COMESA.

During a meeting in Amman on Wednesday that was co-chaired by Minister of Industry, Trade and Supply and Egyptian Minister of Investment and International Cooperation Sahar Nasr, the two sides also agreed to boost coordination to encourage Jordanian and Egyptian firms to take part in the reconstruction process in Iraq and Syria.

They also agreed to hold annual exhibitions in both countries for Jordanian and Egyptian products as well as investment forums in both Amman and Cairo.

The two sides signed the minutes of the preparatory committee that includes 8 agreements in the economic, trade, industrial, investment and international cooperation fields in order to present them to the 27th session of the Jordanian-Egyptian Higher Joint Committee that will be co-chaired by Prime Minister Hani AL Mulki and his Egyptian counterpart Sharif Ismael on Thursday.

Qudah highlighted the need to boost trade and economic ties between the two countries in the interest of both peoples, adding that the committee’s meeting reflect keenness of both countries to enhance bilateral ties in various fields.

According to the minister trade exchange between the two countries stood at $548.6 million in 2016 and at $581.3 million in 2015.

Trade exchange between the two countries in the first four months of 2017 reached at $190.7 million compared to $174.4 million in the same period of 2016.

Source: Fana News