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Egypt, Jordan Sign Deal on Arab Service Trade Liberalization
Source: 4/13/2018

Egypt and Jordan signed an agreement on service trade liberalization among Arab states.

The announcement came on the sidelines of the opening session of the Arab League Economic and Social Council ministerial meetings, which kicked off in Riyadh in preparation for the upcoming 29th Arab Summit.

The deal was inked by First Undersecretary of Egypt's Trade and Industry Ministry Saeed Abdullah, Jordan's Minister of Industry, Trade and Supply Yarub Qudah and Arab League Assistant Secretary-General for Legal Affairs Fadel Jawad.

The pact, which now comprises ten Arab states, will come into force after being endorsed by three Arab states.

Assistant Arab League Secretary General for Economic Affairs Kamal Hassan Ali asserted the importance of the agreement, which is expected to contribute to the liberalization of trade in services, within the framework of the Greater Arab Free Trade Area.

It aims to open up the door to investors from member states to invest in specific services sectors, he said.

The deal is meant to promote the interests of all parties on the basis of mutual benefit and balance between rights and duties, taking into account the goals of national policies in this regard and the situation in the least developed Arab countries, he added.

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