Jordan and Ethiopia Forge New Trade and Investment Partnership

Amman: 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. According to Jordan News Agency, the MoU was formalized 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. This agreement establishes an institutional framework for cooperation, including facilitating trade and investment, developing business activities, and exchanging trade delegations. The MoU 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. Addi tionally, it emphasizes 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 the 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 stated that 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 emp hasized the importance of Ethiopia as a strategic market for Jordan, highlighting its geographic location, growing population and economy, and the significance of Addis Ababa as a hub for the African Union. Al-Haj Tawfiq also noted that Ethiopia's potential extends beyond bilateral trade, offering substantial opportunities for investment and resource exploration. He identified promising opportunities for partnerships between the business communities of the two countries in several sectors where Jordan has expertise, such as pharmaceuticals, food industries, fertilizers, information technology, renewable energy, healthcare, education, and logistics. Al-Haj Tawfiq stressed that expanding engagement with Africa should be a crucial strategy for diversifying Jordanian export, services, and investment markets. He reiterated that the establishment of the Jordanian-Ethiopian Joint Business Council would provide a practical mechanism for turning existing potential into concrete opportunities, projects, and partnersh ips. He also highlighted the importance of intensifying the exchange of information on investment opportunities and the business environment, organizing trade delegations, forums, exhibitions, and business-to-business meetings to connect Jordanian companies with their Ethiopian counterparts. 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.