Amman, Aug. 18 (Petra)--The EuroCham Jordan and the German-Arab Chamber of Industry and Commerce (AHK) on Tuesday signed a memorandum of understanding (MoU) to strengthen economic, trade and investment cooperation between Jordan and the European Union, with a particular focus on Germany, and to establish direct channels between business communities.
The MoU was signed by EuroCham Jordan Chairman Mohammad Sumadi, while AHK was represented by CEO Maren Diale-Schellschmidt and Regional Manager for Jordan and Lebanon Muhannad Salah Eldin.
The agreement seeks to establish practical cooperation between the two sides by connecting Jordanian companies with European and German companies and institutions, supporting trade and investment opportunities, facilitating market access and developing new areas of cooperation between Jordan’s private sector and its European counterparts.
Cooperation will cover the exchange of economic, trade and regulatory information, business-to-business (B2B) meetings, trade missions and delegations, as well as participation in conferences, exhibitions and business forums. It will also include mutual promotion of economic initiatives and events.
The two sides will also cooperate in supporting companies seeking to enter new markets, identify trade and investment partners and understand business requirements and practices. Capacity building and knowledge exchange will cover European trade instruments, rules of origin and access to EU markets.
Under the MoU, each side will appoint focal points to follow up on joint activities. The scope, timetable and outcomes of each activity will be agreed separately, allowing the two sides to develop practical projects and initiatives according to their needs.
Sumadi said the MoU was part of the chamber’s efforts to strengthen direct links between Jordanian businesses and European business networks and provide Jordanian companies with opportunities in trade, investment, and industrial and technological partnerships.
He said Germany is an important economic and industrial partner for Jordan within the European Union, adding that cooperation with AHK would help Jordanian companies establish contact with German companies and institutions, organize trade missions and business meetings, attract investment and access the German and European markets.
Sumadi said the next phase would focus on specific programs covering business connections, trade missions, sector-related events, investment opportunities and links between Jordanian companies and relevant European and German institutions.
EuroCham Jordan, established last year, works to strengthen economic, trade and investment relations between Jordan and EU countries through cooperation with European business organizations and chambers of commerce.
The German-Arab Chamber of Industry and Commerce was established in 1976 to promote economic cooperation between Germany and Arab countries.
//Petra//WH
