India and Jordan ink the revised Economic and Trade Cooperation Agreement

The Dollar Business Bureau 

India and Jordan discussed ways of increasing bilateral trade and deepening their engagements for greater cooperation in investment sector at the 10TH India-Jordan Trade and Economic Joint Committee (TEJC) Meeting on Wednesday.

During the TEJC meeting, the two sides also reaffirmed their mutual interest and discussed the roadmap for cooperation in various fields such as Fertilizer Sector, Customs, Double Taxation Avoidance Agreement, Visa and Consular issues, Health and Pharmaceuticals, Micro, Small and Medium Enterprises, Maritime Transport, Rail Transport, and Air Transport, Renewable Energy, Energy Efficiency, and Smart Grid development, Information Technology, Higher Education and Vocational Training, Agriculture sector etc.

The government press release said, that the Indian side represented by the Commerce and Industries Minister, Nirmala Sitharaman and Yarub Qudah from the Jordanian side also inked the revised Economic and Trade Cooperation Agreement on behalf of the two governments. The Agreement is aimed at boosting and diversifying bilateral trade relations, in addition to promoting economic, trade and investment cooperation based on the principle of equity, non-discrimination.

On the sidelines of the TEJC, business federations from both sides also met and discussed the roadmap for the promotion of trade and investment through the B2B mechanism.

Bilateral trade between the two countries stood at $1.3 billion in 2016-17.