Amman, Jan. 29 (Petra) – Representatives from various economic sectors described the signing of the Joint Declaration on the Strategic and Comprehensive Partnership between Jordan and the European Union (EU) as a pivotal moment for the national economy. They highlighted that the agreement acknowledges the significant efforts of His Majesty King Abdullah II to provide the necessary support for sustainable economic growth.

His Majesty King Abdullah II and European Commission President Ursula von der Leyen witnessed the signing of the agreement in Brussels on Wednesday. To support the achievement of the agreement’s objectives, the EU announced a financial aid package for Jordan worth €3 billion for the years 2025-2027. This includes grants of €640 million, investments of €1.4 billion, and macroeconomic support allocations of approximately €1 billion.

The signing ceremony, attended by His Royal Highness Crown Prince Al Hussein bin Abdullah II, underscored the importance of the partnership between Jordan and the EU and acknowledged Jordan’s role in pursuing peace and stability in the region.

Speaking to the Jordan News Agency (Petra), economic sector representatives emphasized that the agreement provides substantial support to the national economy by stimulating foreign investments, bolstering productive sectors, and enhancing their ability to expand into European markets. This, they noted, will contribute to generating new job opportunities and achieving sustainable economic development.

They stressed the need for Jordanian companies to exert every effort to capitalize on the opportunities provided by the agreement and engage in the activities and programs it offers to maximize the benefits of the partnership with EU countries.

Jordan and the EU announced in July 2024 their intention to elevate their relationship to a comprehensive strategic partnership, building on the Association Agreement signed in 1997, which came into force in 2002 and remains active.

Ali Murad, President of the Jordanian-European Business Association (JEBA), expressed his appreciation and gratitude for His Majesty’s efforts to support the national economy, enabling it to grow and improve citizens’ living standards. He noted that since assuming his constitutional powers, His Majesty has prioritized economic affairs, integrating the national economy into the global market through various trade agreements, particularly with the EU.

Murad described the agreement as highly significant, as it is one of the few comprehensive strategic partnerships with the EU, reflecting global and European interest in Jordan and highlighting the Kingdom’s importance on the world stage. He added that the agreement will provide a strong opportunity to increase exports to EU countries and includes allocations to support the national economy, easing the burden on the budget.

Fathi Al-Jaghbir, President of the Jordan Chamber of Industry, commended His Majesty’s efforts and diplomatic initiatives to enhance Jordan’s international standing, which culminated in the signing of the agreement. He noted that the agreement reflects His Majesty’s strong relations with various international entities and underscores his leadership in supporting regional stability.

Al-Jaghbir emphasized that the €3 billion aid package will significantly boost the national economy by supporting productive sectors, stimulating foreign investments, and enhancing the industrial sector’s ability to expand into European markets, thereby creating jobs and achieving sustainable economic development.

Iyad Abu Haltam, Chairman of the East Amman Industrial Investors Association (EAIIA), highlighted that His Majesty’s efforts and continuous visits to the EU accelerated the completion of the agreement, which he described as exceptional. He expressed hope that the agreement would attract European investments in high-value-added sectors, particularly in technology transfer, aligning with the Economic Modernization Vision.

Jawad Anani, former Deputy Prime Minister for Economic Affairs, noted that His Majesty’s diplomatic efforts and friendly relations with the EU facilitated the implementation of the partnership agreement, which includes cooperation in economic, political, and cultural fields. He emphasized that the €3 billion support package represents a fundamental and strategic boost to the national economy.

Mohammad Smadi, a member of the JEBA Board of Directors, described the agreement as a qualitative leap in Jordan-EU relations, enhancing cooperation in economic, investment, trade, security, and developmental fields. He noted that JEBA will work to strengthen partnerships between Jordanian and European companies and attract investors to benefit from the improved investment climate facilitated by the agreement.

Jordan’s exports to EU countries reached JD386 million by the end of November 2024, marking a 0.8% increase compared to the same period in 2023. Meanwhile, the value of Jordan’s imports from the EU decreased by 2.3% to JD2.611 billion during the same period.

//Petra// AF
29/01/2025 21:46:08