Abu Dhabi: The UAE Ministry of Economy and the Jordanian Ministry of Industry, Trade and Supplies, have signed a Memorandum of Understanding to increase cooperation between the two countries in the fields of innovation and research, and developing Small and Medium Enterprises (SMEs).
The three-year agreement aims to build a long-term strategic alliance.
The MoU was signed in Amman by Sultan bin Saeed Al Mansouri, Minister of Economy, and Maha Ali, Jordanian Minister of Industry, Trade and Supplies, during the UAE-Jordan Economic Forum and in the presence of Dr Abdullah Al Nasour, Prime Minister of Jordan.
The agreement will look into preparing a work plan to identify further areas of cooperation as well as to encourage government entities, business development centres, and private sector organisations to set up joint projects among SMEs focusing on technological innovation. It will also facilitate access to sources of funding, help SMEs explore viable market opportunities, and enable exchange of information on intellectual property rights pertaining to SMEs in both the UAE and Jordan.
Al Mansouri said the MoU focuses on innovation, SMEs and research and development.
“These are areas that form the strategic pivot of the wise leadership’s determination to make the UAE a leader in many fields. Innovation is not a choice, but an imperative for any country trying to consolidate its position in the global economy. The UAE realised this early on and included innovation among its goals as far back as in its Vision 2012,” he said.
