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ISLAMABAD: Pakistan and Jordan have agreed to negotiate a preferential trade agreement (PTA) and enhance cooperation across 16 key sectors, formalized through a newly signed protocol aimed at converting longstanding ties into practical economic and institutional outcomes, according to an official statement.&nbsp;The announcement comes months after Jordan&rsquo;s King Abdullah II visited Pakistan last year, during which he and Prime Minister Shehbaz Sharif pledged to broaden strategic, economic and political cooperation. The two leaders discussed expanding collaboration in trade, investment, health, education, science and technology and defense. A Memorandum of Understanding in media, culture and education was also exchanged, marking an expansion of institutional cooperation between the two countries.&nbsp;&ldquo;Welcoming the signing of the protocol, the [Pakistan Commerce] Minister [Jam Kamal Khan] said the JMC reflected the shared resolve of both countries to pursue result-oriented cooperation, particularly in trade, investment and private-sector engagement,&rdquo; the Ministry of Commerce said in a statement.&nbsp;The two countries reaffirmed their commitment to hold the Pakistan&ndash;Jordan Joint Ministerial Commission (JMC) regularly, describing it as a key mechanism to strengthen bilateral economic ties.&nbsp;The JMC outlined plans to enhance cooperation in banking and finance, including central bank collaboration, and expand engagement in industry, agriculture, halal standards, education, skills development, healthcare, climate change, energy, mining, maritime affairs, media, culture, and tourism through institutional linkages and joint working groups.&nbsp;&ldquo;The Commission also welcomed the signing of a Memorandum of Understanding on Information Technology and Telecommunications, aimed at promoting cooperation in digital innovation, technology services and collaboration between the ICT sectors of both countries,&rdquo; the statement added.&nbsp;A Joint Working Group on Trade and Investment will oversee implementation, alongside efforts to activate the Pakistan&ndash;Jordan Business Council and promote business-to-business linkages.&nbsp;During the 10th JMC session, co-chaired by Pakistan&rsquo;s Khan and Jordan&rsquo;s Minister of Industry, Trade and Supply Yarub Qudah, both sides agreed to begin consultations on a PTA aimed at improving market access and reducing trade barriers.&nbsp;Muhammad Humair Karim Kidwai, Pakistan&rsquo;s Ministry of Economic Affairs Secretary, emphasized the need for &ldquo;structured follow-up mechanisms to ensure effective implementation of the agreed decisions.&rdquo;

Foreign Affairs

Islamabad and Amman agree to negotiate a preferential trade pact and expand cooperation in 16 sectors, following King Abdullah II’s November visit to strengthen strategic and economic ties.

Articles tagged with "jordon"

Pakistan, Jordan agree on trade pact, expand cooperation across sectors

Pakistan, Jordan agree on trade pact, expand cooperation across sectors