Joint Egyptian-Jordanian energy firms to be formed

CAIRO – 27 July 2017: A series of joint Egyptian-Jordanian energy companies will be established based on recommendations from the Egyptian-Jordanian Business Council.

The companies, under study, will be specialized in generating energy from solar and wind resources and manufacturing light-emitting diode (LED) lamps, a Thursday statement from the Ministry of Industry and Foreign Trade said.

The Egyptian-Jordanian Higher Committee, which started official meetings Thursday in Amman, discussed establishing a union that encompasses Egyptian and Jordanian securities and brokerage firms.

Egyptian Prime Minister Sherif Ismail signed on Thursday seven agreements of cooperation with his Jordanian counterpart Hany el-Mulki in Amman, during the Egyptian-Jordanian Higher Committee’s meeting.

The agreements included setting up a joint investment council to deepen strategic and economic relationship between both countries, developing micro, small- and medium-sized enterprises (MSMEs) and cooperating in rebuilding the industrial development of Syria and Iraq.

The 27th session of the Egyptian-Jordanian Joint Higher Committee aims to execute what had been agreed upon in the last meetings held in Cairo in August 2016.

It also convened to review the cooperation between both countries in the economy and investment fields.