Jordan and Russia Agree on Practical Steps to Increase Trade and Investment

Discussion of developments regarding the Free Trade Agreement between Jordan and the Eurasian Economic Union

Jordan presents reconstruction opportunities in Syria and Iraq to Russian companies

Signing of the committee's meeting minutes, a customs cooperation protocol, and a health memorandum of understanding

Agreement to hold the eighth session of the joint committee in Amman in 2027

Jordan and the Russian Federation have agreed on practical steps to enhance economic, commercial, and investment cooperation between the two countries, increase the volume of trade exchange, and expand cooperation in a number of priority sectors, at the conclusion of the seventh session of the Jordanian-Russian Joint Intergovernmental Commission for the Development of Economic, Trade, Scientific, and Technological Cooperation.

The session's meetings were held in Moscow from September 8 to 11, chaired by the Minister of Industry, Trade, and Supply, Engineer Yarub Al-Qudah, on the Jordanian side, and the Deputy Prime Minister of the Russian Federation, Dmitry Patrushev, on the Russian side, in the presence of a number of ministers, government officials, and representatives of relevant bodies and institutions from both countries, including Minister of Agriculture Dr. Saeb Khraisat and Minister of Tourism Dr. Imad Hijazin, alongside the Jordanian Ambassador to Russia, Dr. Khaled Al-Shawabkeh, and the Russian Ambassador to Jordan, Gleb Desyatnikov.

At the opening of the committee's work, Minister Al-Qudah emphasized the importance of strengthening the frameworks of economic, commercial, and investment cooperation between the two countries, diversifying the base of exchanged goods and services, maximizing the participation of Jordanian companies in exhibitions and economic events held in Russia, and motivating the private sector to exploit the promising investment opportunities between the two countries.

He pointed to opportunities for cooperation in the fields of pharmaceutical industries, transport infrastructure development, and joint industries, allowing the Russian side to benefit from the network of free trade agreements that Jordan has with many countries and economic blocs.

Al-Qudah highlighted the promising opportunities for reconstruction in Syria and Iraq, and the possibility of Jordan serving as a base and logistical hub for Russian companies to contribute to reconstruction projects and establish partnerships between Jordanian and Russian companies in the trade and services sectors.

He also noted the imminent signing of preferential trade agreements with both Rwanda and Uzbekistan, which will contribute to opening new markets for Jordanian goods and products in Africa and Central Asia.

Al-Qudah stressed the importance of continuing to hold joint committee meetings periodically, enhancing coordination, and following up on the implementation of what is agreed upon, noting the agreement of both parties to hold the eighth session of the committee in Amman in 2027.

For his part, Russian Deputy Prime Minister Dmitry Patrushev emphasized the importance of the committee meetings in discussing mechanisms to enhance economic cooperation and raise the volume of bilateral trade, pointing to the special nature of Jordanian-Russian relations and describing the committee as an important foundation for developing cooperation in various fields.

He affirmed his country's readiness to enhance strategic cooperation, implement mutually beneficial joint projects, and raise the level of cooperation with Jordan in the fields of trade, industry, investment, energy, agriculture, food security, transport, logistics, tourism, information and communications technology, and other areas of mutual interest.

The joint preparatory technical committee held its meetings chaired by the Secretary-General of the Ministry of Industry, Trade, and Supply, Dana Al-Zoubi, on the Jordanian side, and the Deputy Minister of Economic Development of the Russian Federation, Vladimir Ilyichev, on the Russian side, where they discussed enhancing economic, trade, and investment cooperation, increasing bilateral trade, stimulating investments, and developing sectoral cooperation.

Al-Zoubi affirmed that the volume of trade exchange between the two countries remains below the level of ambitions and available potentials, which calls for establishing practical mechanisms to elevate it and remove the difficulties and obstacles hindering the development of trade and investment between the two countries.

On the sidelines of the session, the Jordanian side held a meeting with representatives of the Eurasian Economic Union, during which they discussed ways to enhance economic, trade, and investment cooperation between Jordan and the Union's member states, the developments in negotiations regarding the free trade agreement between the two sides, and working on establishing the committee concerned with trade and investment.

Both sides emphasized the importance of continued coordination and information exchange to contribute to enhancing the access of Jordanian products to the markets of the Union's countries, raising the volume of trade exchange, and creating a more favorable environment for economic and investment cooperation.

At the conclusion of the session, the two sides signed the minutes of the meetings of the seventh session of the Jordanian-Russian Joint Commission, alongside the "Protocol of Cooperation between the Federal Customs Service of the Russian Federation and the Jordanian Customs Department on the Exchange of Information Concerning the Customs Value of Goods," and a memorandum of understanding for health cooperation.

Both sides emphasized the importance of following up on the implementation of the committee's outcomes through the relevant authorities in both countries, translating them into practical steps and concrete cooperation projects and programs, thereby enhancing the path of Jordanian-Russian economic, trade, and investment relations.