Friday, July 28, 2017

Cairo to Boost Investment and Trade Ties With Jordan: PM
Ahram Online
Thursday 27 Jul 2017

Egyptian Prime Minister Sherif Ismail said on Thursday at a meeting of a high-level Egyptian-Jordanian commission in Amman that his country aims to bolster its investment and economic ties with Jordan.

Ismail during his speech at the 27th round of the commission said that Cairo aims to “push forward trade and investment relations with Amman,” adding that the Egyptian government seeks to amend investment legislation to streamline doing business in Egypt.

Egypt's trade exchange with Jordan stood at $587 million in 2016.

Jordanian investment in Egypt amounted to $526 million until early 2017, while Egyptian investments in Jordan stood at $310 million until the end of 2016, figures Ismail says are unsatisfactory and should be "greatly boosted."

He also highlighted cooperation between Cairo and Amman in counterterrorism efforts.

On Thursday, the two countries signed seven memorandums of understanding in several fields, including investment, small and medium-sized projects, higher education and stock markets, investment minister Sahar Nasr was quoted as saying by Egypt's state news agency MENA.

She said the two countries also agreed to create an Egyptian-Jordanian investment council whose primary task will be holding forums and fairs in all fields including tourism, oil and agriculture.

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