AMMAN — The Jordan Chamber of Commerce (JCC) and the Ethiopian Chamber of Commerce and Sectoral Associations have signed a memorandum of understanding (MoU) to strengthen economic, trade and investment cooperation between the two countries.

 

The MoU is signed by JCC President Khalil Haj Tawfiq and Ethiopian Chamber of Commerce and Sectoral Associations President Sebsib Abajobir, establishes an institutional framework for cooperation, including facilitating trade and investment, developing business activities and exchanging trade delegations.

 

It also provides for the exchange of information on investment opportunities and market trends, cooperation in training and capacity building, and support for small, medium-sized enterprises (SMEs), in addition to cooperation in sustainability, the green economy, digital transformation and innovation, according to a statement by the JCC.

 

Under the agreement, the two sides will establish a Jordanian-Ethiopian Joint Business Council to follow up on implementation of the MoU, coordinate joint activities and initiatives, and provide strategic guidance for future economic cooperation between the two countries.

 

The MoU encourages cooperation in sustainable development, renewable energy and environmentally friendly business practices, as well as innovation and digital transformation, including e-commerce, financial technology, artificial intelligence, smart technologies and digital infrastructure.

 

He said the JCC attaches great importance to Ethiopia as one of Africa’s promising markets and a strategic gateway to East African and Horn of Africa markets, as well as the prominent role of its capital, Addis Ababa, which hosts the headquarters of the African Union.

 

Haj Tawfiq noted that Ethiopia’s importance to Jordan extends beyond bilateral trade, as it is a major market with a population of more than 130 million and significant economic potential, resources and investment opportunities.

 

He pointed to promising opportunities for partnerships in areas where Jordan has expertise and competitive advantages; pharmaceuticals and medical supplies, food industries, fertilisers and chemicals, information technology, renewable energy, healthcare, education and logistics, as well as innovation, digital transformation and entrepreneurship.