What does Jeremiah 11:4 mean?

I made this agreement with your ancestors when I brought them out of Egypt, out of that iron furnace. I told them, 'Obey me and do everything I command, and you'll be my people and I'll be your God.' Jeremiah 11:4 - Modern Text Bible

(God reminds them of the original covenant made after the Exodus: obedience leads to relationship with God.)