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Egypt, Jordan 2014 trade exchange valued at $732m: International Cooperation Minister Jordanian contributions in Egyptian investment companies spread over more than 1,430 companies, valued at $501.7m
Egypt and Jordan's trade exchange was equival to $732m in 2014, with electric power exportation being an essential component in trade between both countries, according to Minister of International Cooperation Nagla Al-Ahwani. Al-Ahwani is currently in the Jordanian capital Amman for the preparatory meetings of the 25th session of the Egyptian-Jordanian higher joint committee that is set to begin on 27 May, according to a ministry statement. The Ministers of Petroleum & Mineral Resources, Electricity, Industry & Foreign Trade, Manpower & Immigration, Renewable Energy, and Transportation, are currently participating in the preparatory meetings, headed by Al-Ahwani. Prime Minister Ibrahim Mehleb and his Jordanian counterpart will be leading the committee's meetings with the beginning of the 25th session, the statement added. Al-Ahwani indicated that a number of important documents in the electricity, energy, investment, civil aviation and other sectors are expected to be signed during the committee meetings. Jordanian contributions in Egyptian investment companies amount to $501.7m spread over more than 1,430 companies, operating in various fields, the statement said. Meanwhile, Egyptian investments in Jordan are equivalent to approximately $310m injected into the fields of transportation, hotels, industry, and agriculture amongst others. The statement further highlighted that the committee meetings will discuss increasing the size of joint and mutual investments between both countries. The committee will also follow up on the works of the eight country interconnection project (EIJLLPST) linking the electrical grids of Egypt, Jordan, Syria, Palestine, Libya, Turkey, Lebanon and Iraq. In 2008, the Egypt-Jordan link started operating, being "rated at 300 MW, using 500 kV on the Egyptian side and 400 kV on the Jordanian side," according to the Arab Fund for Economic and Social Development's (AFESD) official website, one of the main sources of financing for the project. The Egyptian-Jordanian higher joint committee has been established and started its activities in the 1980's, more than 30 years ago.
