Jordan, UAE bolster ties by signing comprehensive economic partnership agreement, 1st add

The Customs Cooperation and Mutual Administrative Assistance Agreement between Jordan and the UAE seeks to develop customs legislation to serve the economic interests of the two countries and exchange information between the two customs authorities, ensuring the application of optimal customs procedures in accordance with legislative frameworks that guarantee the safety of customs procedures. It focuses on cooperation in the research, development and application of new customs procedures, training and exchange of personnel and topics of common interest between the two countries, and cooperation in combating all goods and materials whose circulation or trade is prohibited, such as trafficking in narcotic substances, weapons, nuclear materials, hazardous materials and other prohibited goods and materials at the international and national levels. The agreement provides for the exchange of customs information between the two countries in a direct manner that ensures the necessary verification of the integrity o f customs procedures and the application of customs legislation to the materials and goods exchanged between the two countries, which reflects the ease of dealing with goods and taking the necessary decisions regarding them and facilitates the flow and release of goods. According to the agreement, the two countries initiate practical cooperation that attracts and encourages investment, ensures the application of international conventions and customs legislation, facilitates trade operations, and combats cross-border crime. The two countries have economic and investment cooperation relations: The UAE/Abu Dhabi Fund for Development (ADFD) is one of Jordan's most important development partners, through its contribution to financing several development projects and supporting the public budget. On November 1, 2023, His Majesty King Abdullah II and His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, signed memorandua of understanding for a package of investment projects wor th about $5.5 billion in Abu Dhabi. The most important strategic and developmental projects implemented from 2012 to 2023 are the $150 million solar power generation project in Quwaira (Sheikh Zayed Solar Complex), the $22.7 million LPG port project, the $181 million road construction, completion, expansion and improvement program, the $210 million oil derivatives storage facilities project, the $25 million expansion of the King Hussein Cancer Hospital, the $35 million oncology center/Queen Alia Military Hospital, the $87 million Amman Development Corridor project, the $70 million silo expansion, and the $127 million project to develop key universities. Source: Jordan News Agency