Ambassador to Jordan Kim Pil-woo (right) and Jordanian Minister of Industry, Trade and Supply Yarub Qudah on March 30 sign an agreement on bilateral cooperation in economy and trade in Amman, Jordan. (Ministry of Foreign Affairs)

By Aisylu Akhmetzianova

A bilateral agreement concluded with Jordan seeks to boost cooperation in economy and trade with the Middle Eastern country to forge a systematic foundation for solid economic cooperation.

Ambassador to Jordan Kim Pil-woo and Jordanian Minister of Industry, Trade, and Supply Yarub Qudah on March 30 signed the accord in Amman, Jordan, the Ministry of Foreign Affairs said in Seoul.

This deal stipulates basic principles on tariffs, concessions and protection of intellectual property rights between the two sides in line with legislation in both countries, World Trade Organization rules and bilateral and multilateral trade deals signed by both countries.

Jordan commands a strategic geographic location in the Middle East with a port connecting the Red Sea, making it an inland hub for logistics and transportation in the region.

Since forging official ties in 1962, both countries have steadily developed economic ties.

Since the 1970s, Seoul has signed 102 agreements on economic cooperation including this one. Jordan is also the third country this year to sign such a pact with Korea, following Moldova and Bosnia and Herzegovina.

aisylu@korea.kr