Oman and Jordan Sign MoU to Strengthen Economic Ties

Oman, 23 October, 2024 : The Sultanate of Oman and the Hashemite Kingdom of Jordan have signed a Memorandum of Understanding (MoU) to boost cooperation in various economic sectors. The agreement was formalized by the Public Authority for Special Economic Zones and Free Zones (Opaz) in the Special Economic Zone at Duqm, with Engineer Ahmed bin Hassan Al-Deeb representing Opaz and Nayef Hamidi Al-Fayez representing the Aqaba Special Economic Zone Authority of Jordan.

The MoU focuses on attracting investments to special economic zones and facilitating the exchange of knowledge regarding their management, operation, and development. Both countries will explore joint projects and work towards establishing an international institutional framework to enhance competitiveness.

Key areas of cooperation include urban planning, facilities management, and smart city applications. The MoU also aims to facilitate the exchange of data related to infrastructure projects and implement joint promotional programs for investment activities.

In logistics, the agreement emphasizes coordination to utilize transportation and distribution facilities, opening new export channels and increasing trade volume between the two countries. The parties will share expertise in logistics management and port operations.

During the signing ceremony, Al-Fayez and his delegation visited significant projects in Duqm, including Duqm Port and the Karwa automotive factory, highlighting the potential for future collaboration.

Source : www.zawya.com