Ambassador to Jordan Kim Pil-woo (right) and Jordanian Minister of Industry and Commerce Yarub Qudah in Amman, Jordan, on March 30 pose for a photo after signing a bilateral agreement on economic and trade cooperation. (Ministry of Foreign Affairs)

By Yoo Yeon Gyeong

A bilateral agreement with Jordan on economic and trade cooperation has taken effect.

The Ministry of Foreign Affairs in Seoul on June 9 officially announced the effectuation of the accord.

The deal serves as the basic framework for bilateral economic cooperation in sectors ranging from investment to tourism, agriculture and the environment.

"The entry into force of this Agreement is viewed as having strengthened cooperation with Jordan, which is located at a key hub in the Levant, a geographically strategic region in the Middle East, while also establishing a legal foundation for further expanding opportunities for Korean companies to enter the Middle East market," a ministry statement said.

Per the Korea International Trade Association, bilateral trade reached USD 619 million last year, with Korea mainly exporting cars and pharmaceuticals while importing goods like industrial flame retardants and copper ingots.

The ministry said this raised Korea's total to 101 such deals in effect, adding that it will continue concluding such deals to expand economic diplomacy and support the advances of domestic companies to global markets.

dusrud21@korea.kr