Jordan Times
Friday, January 14, 2005
King counts on Jordan-Egypt economic, trade ties to be model in the region
AMMAN — His Majesty King Abdullah said on Thursday that Jordan and Egypt should work to make their economic and trade ties a model to be copied in the region.
The King's remarks were made as he received Egyptian Prime Minister Ahmed Nazif who conveyed to him a message from Egyptian President Hosni Mubarak on bilateral relations and the developments in the region.
Mega joint ventures like the Arab gas pipeline are likely to bolster joint Arab action, the King indicated, urging the acceleration in the implementation of this vital project.
The Monarch also underlined the crucial role that the private sector in both countries can play, hand in hand with the public sector, to enhance cooperation.
At the meeting, Prime Minister Faisal Fayez briefed the King on the outcome of the Joint Jordanian-Egyptian Higher Committee which concluded its meeting Thursday with the two sides signing nine agreements and adopting several recommendations to advance bilateral ties.
The agreements provide for cooperation in the fields of civil protection, workforce, vocational training, tourism, archaeological reconstruction, mineral resources and seismological studies, and the judiciary.
The agreements were signed by Fayez and Nazif at a ceremony held at the Prime Ministry. Following the signing ceremony, Industry and Trade Minister Ahmad Hindawi told reporters at a joint news conference with Egypt's International Cooperation Minister Fayzah Abul Naja that pending trade issues between the two sides were solved. The booming Jordan's pharmaceutical industry has faced obstacles in penetrating the Egyptian market due to restriction Cairo imposes on registration of imported medicines. The long-waited decision by the Egyptian side to facilitate the process would allow 65 brands of Jordanian-made medicines to enter Egypt. The Egyptian side also agreed to classify the Dead Sea products as cosmetics, a matter which will spare these commodities the long registration process should they remain classified as medicines. Egypt will also send a veterinary expert every year to check on the standards applied in Jordan's luncheon meat factories to see that they meet Egyptian and international specifications.
The agreement was made after the Egyptians lifted a ban on this food product's entry to their country, Hindawi said. For its part, Jordan eased restrictions on the import of Egyptian mango and guava. Abul Naja noted that trade between the two countries quadrupled during the past few years reaching JD138 million in the first 11 months of 2004. But the trade balance remains in favour of Egypt because during this period, Jordan only exported to the Arab neighbour goods worth JD18 million, according to the Jordan News Agency, Petra. Egyptian investments in Jordan stand at $251 million, while Jordanians invest around $50 million in Egypt and in its free zones, according to Abul Naja. Earlier, Nazif attended part of the meeting of the Joint Jordanian-Egyptian Chamber of Commerce, held on the sidelines of the 19th Joint Jordanian-Egyptian Higher Committee meetings. Speaking to businessmen from both sides, Nazif stressed: “We shoulder a heavy burden to activate the economic aspect of Jordan-Egypt relations and move to the level of political coordination with the ultimate aims of achieving Arab economic integration.”