Amman - Jordan and Kuwait boast a robust relationship underpinned by over 70 bilateral cooperation agreements spanning politics, culture, economy, education, health, media, and defense, setting them apart as leaders in Arab cooperation. These agreements, a testament to the concerted efforts of both nations' leaderships, foster unique ties across various arenas.
اضافة اعلان
Economically, the two nations are bound by a series of agreements and memoranda covering trade facilitation, economic cooperation, air services, industrial collaboration, education, and investment attraction, among others.
Recent meetings of the Jordanian Trade Technical Committee, held to bolster economic ties, particularly intra-trade and investment, underscored the commitment to deepening cooperation and sharing expertise, especially in food security.
Discussions during these meetings centered on bolstering collaboration in industry, industrial zones, SMEs, standards, customs, agriculture, transportation, and private sector engagement. Agreements to activate existing partnerships, such as the industrial zones memorandum and the standardization agreement, were emphasized, along with efforts to enhance customs cooperation.
The Kuwait Fund for Arab Economic Development (KFAED) plays a pivotal role in Jordan's development, providing significant financial support for priority projects, totaling approximately $760 million across 32 initiatives.
Despite a slight dip in trade volume last year, with trade reaching around 176 million dinars compared to 198 million in 2022, Jordan enjoyed a trade surplus with Kuwait, amounting to 82 million dinars.
Jordan's exports to Kuwait, comprising around 1.6 percent of total national exports, saw a notable increase of 7.1 percent from the previous year, despite an overall decline in exports.
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