Egyptian-Jordanian investment council to be launched

CAIRO – 27 July 2017: Egypt and Jordan will set up a joint investment council to deepen strategic and economic relationship between both countries, Minister of International Cooperation and Investment Sahar Nasr said in a statement Thursday.

The announcement came during the Egyptian-Jordanian Higher Committee’s meeting that is currently taking place in Amman, according to the statement.

Nasr explained that the council will include Egyptian and Jordanian investors, proposing the establishment of Egyptian-Jordanian projects in the African markets to benefit from Cairo’s membership in the Common Market for Eastern and Southern Africa (COMESA).

The Egyptian-Jordanian Higher Committee is scheduled to sign seven agreements in the fields of investment, international cooperation, agriculture and tourism.

Participants of the meeting, including Egyptian Prime Minister Sherif Ismail, said that the committee will meet again in Amman in the first quarter of 2018 and in Egypt in the first quarter of 2019.

Jordanian investments in Egypt exceeded $500 million represented in 1,704 companies working in the sectors of industry, services, finance and tourism, according to Nasr.