UAE and Jordan sign landmark trade deal


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Read more: UAE-Jordan Cepa set to boost bilateral trade to $8bn within a decade

The UAE on Sunday signed a comprehensive economic partnership agreement with Jordan, its first with a fellow Arab country. The deal is aimed at deepening trade ties between the countries.

The landmark deal was witnessed by President Sheikh Mohamed and King Abdullah II and came as part of the UAE leader's working visit to Amman. The Cepa is aimed at accelerating growth in priority industries, creating jobs and strengthening supply chains, state news agency Wam said.

It will involve trade restrictions being eased or lifted on commodities and services, with the aim of promoting growth and further opportunities for collaboration in sectors such as renewable energy, industrial projects, manufacturing, transport, pharmaceuticals and food processing.

The Cepa will seek to build on the strong foundations already in place for economic development. Last year, non-oil trade between the UAE and Jordan reached $4.2 billion. Jordan is the UAE’s third-largest Arab trade partner outside of the GCC.

Meanwhile, the UAE is Jordan’s leading foreign investor, with mutual investment between the countries estimated to be $22.5 billion.

Last month, the UAE signed four agreements with Jordan for a $2.3 billion railway investment project that will link the port of Aqaba with the mining regions of Al Shidiya and Ghor es-Safi. This was part of the investment package worth about $5.5 billion that Jordan signed with the Emirates in November during the state visit of King Abdullah to Abu Dhabi.

High-level talks

Sheikh Mohamed was greeted on his arrival at Marka airport in Amman by King Abdullah and Crown Prince Hussein bin Abdullah. Talks were held during an official reception at Basman Palace, with the leaders discussing regional and international issues, including developments in Gaza and Lebanon.

They also held talks on co-operation in areas such as the economy, investment, sustainable development, food security and renewable energy.

TWISTERS

Director: Lee Isaac Chung

Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

Profile of RentSher

Started: October 2015 in India, November 2016 in UAE

Founders: Harsh Dhand; Vaibhav and Purvashi Doshi

Based: Bangalore, India and Dubai, UAE

Sector: Online rental marketplace

Size: 40 employees

Investment: $2 million

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My Cat Yugoslavia by Pajtim Statovci
Pushkin Press

The Sand Castle

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Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

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MISSION: IMPOSSIBLE – FINAL RECKONING

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Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

The%20US%20Congress%20explained
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Updated: October 07, 2024, 11:51 AM