The Jordanian-Algerian business community calls for the promotion of trade exchange

Tariq Al Daajah

Amman- The Jordanian-Algerian business community has emphasized the need to develop working mechanisms and a road map that will contribute to addressing the challenges that hinder the promotion of trade exchange and the establishment of joint projects between the two countries.
During the Jordanian-Algerian forum in its first session yesterday, they stressed the need to activate the bilateral trade agreement signed between the two countries, intensify meetings and exchange delegations’ visits to see and explore available economic opportunities invest.
They pointed out that the volume of commercial initiatives between the two countries is still less than the ambitions, as the value of the Kingdom’s exports last year amounted to 68 million dinars, compared to about 70 million dinars in imports.
For his part, the Secretary of the Society, Al-Ain Abdul Rahim Al-Baqai, emphasized the need to work on overcoming the problems that limit the benefit of the opportunities available to both sides by moving towards the activation of the bilateral trade agreement between the two countries in 1997, and increasing the role of the joint technical trade committee.
He called for a road map to diversify the base of goods exchanged between the two sides and reduce customs and non-tariff barriers to facilitate the flow of goods, especially as the volume of trade and investment exchange is still below the level of ambitions are.
Al-Beqai said that Jordan possesses the elements that enable it to be a regional center for business and a gateway to enter the region’s markets, supported by competitive advantages and promising commercial and investment opportunities, in addition to agreements with several global economic blocs, calls on the Algerian side to benefit from it.
He added that many Jordanian industrial sectors have the necessary requirements to enter the Algerian market, especially the pharmaceutical components, clothing, chemical and fertilizer industries, as well as the plastic, rubber and metal industries, all of which represent untapped export opportunities.
He emphasized the need to continue to organize joint meetings between the business communities and provide an approved bilateral information base that includes all information of interest to investors from the Jordanian and Algerian sides, including legislation, regulations and opportunities for investment , as well as for import. and export.
For his part, the president of the National Federation of Health in Algeria, Muhammad Naqarat, appreciated the holding of the Jordanian-Algerian Forum in its first session, which reflected the depth of the strong and historical relations between the two leaderships and peoples. , which is surrounded by a clear desire to consolidate the economic partnership to be at the level of that distinguished relationship between the two countries.
Naqarat emphasized the need to establish strong partnerships between the two countries and build economic blocs to support and increase investment activities and the joint business climate between the Algerian Confederation of Employers and its counterpart, the Jordanian Businessmen’s Association.
Secretary General of the Ministry of Investment, Zaher Al-Qatarneh, said that Jordan aspires to be a regional logistics center due to its strategic location as a gateway between Eastern Europe and Turkey with the Arab Gulf States, indicating that the Kingdom offers opportunities to attract. foreign investments in the infrastructure sector such as energy, transport and other key sectors related to development.
He explained that the government, through the Public-Private Partnership Unit at the Ministry of Investment, has identified a set of bankable projects, which also include opportunities in the water, transport, digital and education sectors.
He pointed out that trade and investment opportunities in Jordan are rich and available as Jordan focuses on many sectors with high added value, such as information and communication technology, healthcare, pharmaceuticals, logistics, tourism and medical tourism.
He called on the Jordanian and Algerian business community to exchange views and exchange ideas, in order to ensure the strengthening of economic and commercial relations between the two brotherly countries, in addition to strengthening communication and intensive mutual visits of economic and trade delegations, to find and see the latest developments in the business environment in both countries, and to see what the map is rich in. investment and commercial partnerships, and work on the establishment of investment and commercial projects and partnerships.
The Jordanian ambassador to Algeria, Shaker Al-Amoush, expressed his hope that the forum will be the beginning of establishing solid partnerships between the two countries, achieving a kind of economic integration, increasing their trade exchanges and improving investment opportunities, and emphasized that Jordan is rich in promising investment opportunities and supporting elements.
He pointed out that the forum constitutes a strong impetus in the field of medical tourism and the exchange of visits and tourism investments, and called on the Algerian side to learn more about the Jordanian experience in the field of medical tourism and open prospects for the exchange of experiences. and training in the field of tourism and hospitality.
For her part, the Chargé d’Affairs at the Algerian Embassy in the Kingdom, Asma Labyad, confirmed that the forum is one of the ways to improve and develop joint economic cooperation and investments and remove obstacles in in light of the strong desire of the leaderships of the two countries to strengthen economic relations in proportion to the available capabilities.
Labeed pointed out that the volume of the trade exchange between the two countries reached $72 million during the first quarter of the current year 2022, compared to $32 million for the same period last year, stressing that it reflects the visions of the two sides in the reflect development. their trade fairs.
According to the Director General of the Jordanian Businessmen’s Association, Tariq Hijazi, the main investment opportunities available in the Kingdom in various sectors were discussed during the forum, and the Algerian side was introduced to the benefits of investing in Jordan, and bilateral meetings were held for the sectors of food industries, general trade, health, pharmaceutical industries, tourism and transport to establish joint business partnerships.
On the sidelines of the forum, a memorandum of understanding was signed between the Jordanian Businessmen’s Association and the Algerian Confederation of Employers, with the aim of strengthening cooperative relations between the business communities and improving economic, commercial and investment cooperation between the two countries.

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