Amman, Aug. 14 (Petra)-- The Jordan Chamber of Commerce 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, expand communication channels between their business communities, and encourage partnerships and joint projects in areas of mutual interest.
The MoU, signed through an exchange of copies by Jordan Chamber of Commerce President Senator Khalil Al-Haj Tawfiq and Ethiopian Chamber of Commerce and Sectoral Associations President Sebsib Abafira 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 and startup enterprises, in addition to cooperation in sustainability, the green economy, digital transformation and innovation.
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.
Al-Haj Tawfiq said the MoU represents a practical step toward building stronger ties between the Jordanian and Ethiopian private sectors and moving economic cooperation to a new stage based on direct communication between businesspeople, exploring available opportunities and establishing partnerships and joint projects.
He said the Jordan Chamber of Commerce attaches great importance to Ethiopia as one of Africa’s promising markets and a strategic gateway to East African and Horn of Africa markets, given its important geographic location, growing population and economy, as well as the prominent role of its capital, Addis Ababa, which hosts the headquarters of the African Union.
Al-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. This makes stronger ties with Ethiopia an important part of the Jordanian private sector’s efforts to diversify markets and expand its presence in Africa.
He pointed to promising opportunities for partnerships between the business communities of the two countries in several areas where Jordan has expertise and competitive advantages, particularly pharmaceuticals and medical supplies, food industries, fertilizers and chemicals, information technology, renewable energy, healthcare, education and logistics, as well as innovation, digital transformation and entrepreneurship.
Al-Haj Tawfiq stressed that expanding engagement with Africa should be an important avenue for diversifying Jordanian export, services and investment markets. He said the establishment of the Jordanian-Ethiopian Joint Business Council would provide a practical mechanism for turning existing potential into concrete opportunities, projects and partnerships and for following up on agreements reached between the two business communities.
He also underscored the importance of intensifying the exchange of information on investment opportunities, the business environment and markets, and organizing trade delegations, forums, exhibitions and business-to-business meetings to connect Jordanian companies with their Ethiopian counterparts and provide direct insight into market needs and available opportunities.
Al-Haj Tawfiq praised the efforts of Jordan’s Ambassador to Ethiopia and Permanent Representative to the African Union Amjad Mohammad Al-Momani in developing economic relations and strengthening communication between private-sector institutions in the two countries.
//Petra// MF
