Agreement on Economic and Trade Cooperation Signed between Republic of Korea and Hashemite Kingdom of Jordan

- Strengthening Korea's economic and trade presence at the heart of the Levant region in the Middle East

- The signing of the 102nd economic cooperation agreement and the third agreement concluded this year

Ambassador Kim Pil Woo of the Republic of Korea to the Hashemite Kingdom of Jordan formally signed the "Agreement on Economic and Trade Cooperation between the Government of the Republic of Korea and the Government of the Hashemite Kingdom of Jordan" with Jordanian Minister of Industry, Trade and Supply Yarub Qudah in Amman on March 30, thereby laying a robust institutional groundwork for bilateral economic cooperation. With this agreement, the Republic of Korea has now concluded 102 economic cooperation agreements, marking the third such agreement concluded this year following those signed with Moldova and Bosnia and Herzegovina.

Jordan is situated at the center of the Levant*, the cradle of human culture, and serves as a strategic geographical hub in the Middle East. It possesses a port that provides access to the Red Sea, positioning itself as a logistics and transportation hub of the inland Middle East. Since the establishment of diplomatic relations in 1962, Korea has continuously advanced economic cooperation with Jordan, and since 1974 has been actively involved in Jordan's plant markets, including research reactors and power plants.

* The Levant refers to the region along the eastern Mediterranean coastline, encompassing Jordan, Lebanon, Syria, Israel and other neighboring states, and is regarded as a high-potential emerging market within the Middle East.

※ Bilateral trade volume: US$619 million (Korea's exports: US$562 million, Korea's imports: US$57 million) (2025, Korea International Trade Association)

The agreement stipulates basic principles concerning trade matters, including customs, licenses, and the protection of intellectual property rights, in accordance with both countries' domestic laws, World Trade Organization (WTO) regulations, and the bilateral and multilateral trade agreements signed by both countries. This is significant in that it promotes commercial exchange by fostering trade-friendly conditions. Furthermore, the two countries will establish a joint committee to efficiently implement the agreement and will regularly discuss ways to promote trade, investment, and economic relations.

The agreement was the result of multi-year negotiations initiated at Jordan's proposal. To comprehensively encompass economic cooperation with Jordan, the Ministry of Foreign Affairs coordinated with the Ministry of Trade, Industry and Resources, the Ministry of Finance and Economy, the Ministry of Culture, Sports and Tourism, the Ministry of Oceans and Fisheries, the Ministry of Agriculture, Food and Rural Affairs, the Korea Customs Service, the Ministry of Intellectual Property, and other relevant agencies in drafting the text.

The agreement will enter into force 30 days after the two countries notify each other of the completion of domestic procedures required for its entry into force. The Ministry of Foreign Affairs will continue to conclude economic cooperation agreements to expand Korean companies' presence in overseas markets and to broaden the international economic cooperation network.