ammonnews.net

Ammon News -

Minister of Industry, Trade and Supply, Yousef Shamali, discussed remotely with British Minister of State for Trade Policy, Penny Mordaunt, discussed ways to enhance joint economic cooperation during the first meeting of the Jordan-UK Partnership Council (JUPC).

Shamali stressed the "strong" bilateral relations and the joint keenness to develop them "continually," especially in the economic fields, describing the ties as a "model" for joint cooperation at the international level.

Jordan-uk partnership is based on cooperation in areas that serve common interests and increase benefits from the opportunities available in both countries, Shamali said.

The JUPC, Shamali noted, is an opportunity to increase volume of economic cooperation, especially in terms of increasing trade exchange, and stimulating Jordanian and British private sectors to cooperate in the investment fields, exchange visits, hold exhibitions and economic events, within the framework of efforts to increase joint economic cooperation.

Shamali said: "We seek to put in place the necessary mechanisms to increase joint trade in light of the benefits and facilitations included in the Jordan-UK partnership agreement, and work to increase volume of Jordanian exports to the British market and reduce trade balance deficit, which tilts significantly in favor of Britain."

For her part, the British minister affirmed her country's interest in developing economic cooperation with Jordan in various fields, including increasing the trade volume and directing the Jordanian and British private sectors to set up investment projects and take advantage of available opportunities.

The Jordan-UK partnership agreement establishes "advanced" economic relations between them in the coming years, and supports initiatives and efforts to revive trade, establish investments and cooperate in other economic aspects, Mordaunt pointed out.

During the meeting, the JUPC's procedural rules were approved, and a partnership committee was established, in addition to adopting an action plan to strengthen trade and economic relations, and launching 4 main panels in the current stage, covering economic , energy, transport, health, and tourism areas.

The agreement, which entered into force as of May 1, 2021, serves interests of the two countries' governments to consolidate their solid relations and sustain their bilateral economic and trade relations, after the United Kingdom's official exit from the European Union.

The agreement also grants preferential treatment through exemption from customs duties for exchanged goods, in a manner equivalent to the treatment in force within the framework of the Jordan-European Partnership Agreement. The pact provides an institutional framework for strengthening bilateral cooperation based on serving the common interests.