Amman: The EuroCham Jordan and the German-Arab Chamber of Industry and Commerce (AHK) signed a memorandum of understanding (MoU) aimed at enhancing economic, trade, and investment cooperation between Jordan and the European Union, with a special emphasis on Germany. This agreement endeavors to create direct channels between the business communities of these regions.
According to Jordan News Agency, the MoU was signed by EuroCham Jordan Chairman Mohammad Sumadi, with AHK represented by CEO Maren Diale-Schellschmidt and Regional Manager for Jordan and Lebanon Muhannad Salah Eldin. The agreement is designed to foster practical cooperation by linking Jordanian companies with their European and German counterparts, supporting trade and investment opportunities, and facilitating market access. It also aims to develop new areas of collaboration between Jordan's private sector and its European counterparts.
The cooperation outlined in the MoU includes the exchange of economic, trade, and regulatory information, as well as the organization of business-to-business (B2B) meetings, trade missions, and delegations. Participation in conferences, exhibitions, and business forums is also part of this cooperative effort. Additionally, there will be mutual promotion of economic initiatives and events to further strengthen these ties.
Both parties have committed to aiding companies in entering new markets, identifying trade and investment partners, and understanding business requirements and practices. This will involve capacity building and knowledge exchange concerning European trade instruments, rules of origin, and access to EU markets.
The MoU stipulates that each side will appoint focal points to oversee joint activities. This allows for the development of practical projects and initiatives tailored to the needs of both parties, with specific scopes, timetables, and outcomes agreed upon separately.
Sumadi emphasized that the MoU is integral to the chamber's efforts to solidify connections between Jordanian businesses and European networks, providing opportunities in trade, investment, and technological partnerships. He highlighted Germany's role as a significant economic and industrial partner for Jordan within the EU, noting that collaboration with AHK will facilitate contact between Jordanian and German companies, organize trade missions, attract investment, and enhance access to German and European markets.
Looking ahead, Sumadi mentioned that the focus will shift to specific programs that cover business connections, trade missions, sector-related events, investment opportunities, and links between Jordanian companies and relevant European and German institutions.
EuroCham Jordan, founded last year, aims to bolster economic, trade, and investment relations between Jordan and EU countries by collaborating with European business organizations and chambers of commerce. The German-Arab Chamber of Industry and Commerce, established in 1976, seeks to promote economic cooperation between Germany and Arab nations.