South Korea and Jordan have signed an agreement on economic and trade cooperation.
The Ministry of Foreign Affairs said Wednesday that Kim Pil-woo, South Korea's ambassador to Jordan, and Yarub Qudah, Jordan's minister of industry and trade, signed the agreement in Amman on Tuesday (local time).
The two countries plan to establish a joint committee to implement the agreement and regularly discuss ways to promote trade, investment and economic ties. South Korea has signed a total of 102 economic cooperation agreements to date.
The ministry explained that the agreement was the result of years of text negotiations initiated at Jordan's proposal. The agreement will take effect 30 days after both countries notify each other of the completion of their domestic procedures for ratification.
South Korea has steadily developed economic cooperation with Jordan since establishing diplomatic relations in 1962. Korean companies have been actively entering Jordan's plant market, including research reactors and power plants.
"Jordan is a geographic hub in the Middle East and possesses a port with access to the Red Sea, establishing itself as a hub for inland logistics and transportation in the region," the ministry said.