Category: partnerships
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Four Economic Blocs Capture Majority of Jordan’s Exports
The national exports have been predominantly directed towards four key economic blocs, which collectively accounted for 92.4% of total export values from the beginning of the year until the end of August, amounting to JD 5.644 billion, according to recent data. The primary trade blocs include the Greater Arab Free Trade Area (GAFTA) countries, the…
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Companies Sign Export Acceleration Agreements, Bolstering Jordan’s Industrial Competitiveness
A total of 52 Jordanian industrial companies have signed agreements under the second phase of the Export Acceleration Program, a key initiative implemented by the Export House Company to enhance the nation’s export capabilities. During the ceremony marking the signing of the agreements on Sunday, Minister of Industry, Trade and Supply Yarub Qudah highlighted the…
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EBRD approves $28 million for renewable energy projects
The European Bank for Reconstruction and Development (EBRD) has approved a $28.25 million loan to the National Electric Power Company (NEPCO) to improve the network’s capacity to accommodate existing and new renewable energy projects. The project is expected to be co-financed with an investment grant available from other partners, which will contribute to financing the…
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The government negotiates renewable energy agreements
The Ministry of Energy and Mineral Resources(MEMR) will begin negotiations. on Thursday, with renewable energy companies regarding reviewing renewable and conventional energy purchase agreements from a technical, economic, commercial and legal perspective. This step is considered one of the corrective measures taken by the Ministry, to reduce the costs of the electrical system and to…
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Jordan, IMF staff come to Staff Level Agreement on second review under Extended Fund Facility
A staff team from the International Monetary Fund (IMF), led by Ron van Rooden, visited Amman during September 30–October 10, 2024, for discussions on the 2024 Article IV consultation and the second review under the arrangement under the IMF’s Extended Fund Facility (EFF), which was approved by the IMF’s Executive Board on January 10, 2024.…
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ADC, APM Terminals Sign $242Mln Agreement to Expand Aqaba Container Terminal
The Aqaba Development Corporation (ADC) signed an agreement with APM Terminals, one of the world’s largest port operators, to develop and manage the Aqaba Container Terminal. The agreement involves a direct investment of $242 million to increase the terminal’s capacity to over 1.7 million TEUs, aiming to position Aqaba as a leading player in regional…
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Jordan, UAE bolster ties by signing comprehensive economic partnership agreement
His Majesty King Abdullah II and His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, attended on Sunday the signing of the Comprehensive Economic Partnership Agreement and the Customs Cooperation and Mutual Administrative Assistance Agreement between the governments of the two countries. The Comprehensive Economic Partnership Agreement between Jordan and…
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Korean ambassador celebrates 62 years of partnership, highlights economic, humanitarian cooperation
Korean Ambassador to Jordan Kim Pil-woo on Tuesday highlighted the Kingdom’s status as Korea’s oldest partner in the region since the establishment of diplomatic relations in 1962. He noted that Jordan’s ambitious “Economic Modernisation Vision” for 2023-2033 provides an excellent opportunity for both nations to explore new ways to boost their economic ties. In an…
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Korea’s Ambassador Highlights Robust Ties with Jordan on National Day
Korea’s Ambassador to Jordan, Kim Pil-woo, marked Korea’s National Day by reflecting on the deep and long-standing relations between Jordan and South Korea. Established in 1962, these diplomatic ties have evolved into a robust partnership across a range of sectors, from political cooperation to economic development. In an interview with the Jordan News Agency (Petra),…
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Jordan, Iraq finalise second amendment to power sale agreement
Jordan and Iraq on Thursday signed the second amendment to the power sale agreement between the National Electric Power Company (NEPCO) in Jordan and the General Company for the Transmission of Electricity/Central Region in Iraq. The amendment aims to supply electricity to Iraq’s Rutba area via the Jordanian electrical grid, using a voltage of 132…