Global Arab Network | Jordan, Iraq boosting investments and economic cooperation

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Jordan, Iraq boosting investments and economic cooperation

Global Arab Network - - Ayman Khalil

Thursday, 19 May 2011 19:59

Jordanian-Iraqi_Business_Council_calls_for_boosting_investments

Global Arab Network - Jordan stressed its willingness to enhance trade and economic ties with Iraq. Secretary General of the Ministry of Industry and Trade Maha Ali said the Kingdom is doing its utmost to boost the economic development process and bring about security and stability in Iraq.

At a meeting that brought together representatives from the public and private sectors in the two countries, Ali said the government is keen to provide all facilities to Arab and foreign companies to take Jordan as a regional enter and do business in Iraq. The government, she added, is also keen to provide facilities to Iraqi businessmen and investors, adding the step was welcomed by the Iraqi business sector.

According to the secretary general trade and economic ties between Jordan and Iraqi have steadily developed over the past years, adding trade exchange stood at $1.305 billion last year while Iraqi investments in the Kingdom reached $250 million. President of the Jordan Chamber of Industry Hatim Halawani said the Iraqi market is one of the most important and biggest markets for Jordanian products, adding the Kingdom's exports to Iraqi stood at $1.1 billion last year.

He also stressed the importance of boosting trade and economic cooperation between the two countries and promote Jordanian and Iraqi products in both countries. Chairman of the Jordan Chamber of Commerce Nael Kabariti highlighted the need to boost bilateral cooperation and remove obstacles facing trade between the two neighbouring countries.

Chairman of the Federation of Iraqi Chambers of Commerce Jafaar Rasool Jafaar called for facilitating the flow of Iraqi goods to Jordan and provide them with more facilities. He said Iraq is in need of Jordanian agricultural products and technical experiences in the electricity center. //Petra

The Joint Jordanian-Iraqi Business Council stressed at the conclusion of its meetings in Amman, the importance of benefiting from joint agreements to enhance cooperation as well as trade exchange between the two countries.

Participants in the meeting recommended that a joint committee be formed from the chambers of industry and trade from both countries to prepare a study on obstacles facing trade between the two countries and find relevant solutions for them. They also stressed the need to form sectoral trade and industrial committees to further promote economic ties and increase trade exchange.

The participants also called on the Jordanian government to reconsider its policy on granting travel visas to Iraqis. Regarding investment, the two sides highlighted the need to encourage the private sectors and businessmen from both countries to set up joint projects.

They also affirmed the importance of activating the Greater Arab Free Trade Zone Agreement as well as the exchange of data on commodities and industrial products. The meetings were chaired by President of the Jordan Chamber of Commerce Nael Kabariti, President of the Amman Chamber of Industry Hatim Halawani and Chairman of the Federation of Iraqi Chambers of Commerce Jaafar Rasool Jaafar. (Petra)

Global Arab Network

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