AMMAN — Jordanian and
Algerian businesspeople agreed to establish a new vision for the two countries’ economic
relations to open broad prospects for joint trade and investment cooperation,
according to the Jordan News Agency, Petra.
اضافة اعلان
In a joint investment forum on Saturday organized by
the
Jordanian Businessmen Association (JBA), in cooperation with the National
Confederation of Algerian Employers, the two sides called for developing action
mechanisms, which would contribute to overcoming difficulties facing their trade
exchange.
They also agreed to intensify meetings and exchange
visits to get acquainted with available economic opportunities.
Despite the deep-rooted bilateral relations at
various levels, the two countries’ trade exchange remains modest. The Kingdom’s exports to Algeria
amounted to $94 million in 2020, while it imported $125 million from Algeria,
according to official data.
Addressing the meeting, JBA Secretary-General Abdul
Rahim Al-Beqai said Jordan has the requirements to become a regional business
center and a gateway to enter the region’s markets. He said the Jordanian
position is supported by the country’s competitive advantages and promising
commercial and investment opportunities, in addition to agreements with various
global economic blocs. He called on the Algerians to benefit from the
privileges.
Many Jordanian industrial sectors have the necessary
requirements to enter the Algerian market, especially the pharmaceutical,
clothing, chemical and fertilizer, plastic, rubber and metal industries, which
all represent untapped export opportunities, he said.
Stressing the need to work on overcoming
difficulties that impede optimally benefiting from both sides’ available
opportunities, Beqai said this effort should focus on activating the bilateral trade
agreement signed between the two countries in 1997 and jumpstarting the role of
the joint technical trade committee.
Beqai also urged a road map to diversify the base of
exchanged goods and reduce customs and non-tariff obstacles to facilitate the
flow of goods, especially since the volume of trade and investment is “still
less than the desired level.”
Additionally, he
stressed the need to hold more joint business meetings and launch a joint data
base, which would provide details of interest to Jordanian and Algerian
investors, including legislation, regulations, and investment opportunities.
Read more Business
Jordan News
.jpg)
.jpg)
