Israel and Jordan have agreed to construct a joint industrial park on the border between the two nations, marking their first large-scale agreement since the 1994 peace treaty.
According to the agreement, the industrial park, which will be located in the northern Jordan valley, will consist of two parallel industrial and employment zones that will be connected by a bridge spanning the Jordan River. Permits will restrict access to the parks, but movement will not be restricted within the zone.
An Israeli ministerial committee has approved an initial NIS 120 million ($34 million) with an additional 60 million ($17 million) in the future for the project.
“The joint Jordan Gateway industry and employment park is a real breakthrough,” Regional Cooperation Minister Silvan Shalom said in a statement. “This is the first significant project with the Kingdom of Jordan since the signing of the peace agreement [in 1994]. It will strengthen relations between the two states and add to growth in the region through new factories, joint projects and the creation of new jobs.”