Jordan, Iraq discuss economic ties | Business | Ammon News

Jordan, Iraq discuss economic ties

[12/31/2019 10:24:41 AM]

AMMONNEWS - President of the Jordanian Businessmen Association (JBA) Hamdi al-Tabba discussed Tuesday with Iraqi Ambassador Haider al-Athari means of boosting economic ties.

They agreed on the need to define the problems and obstacles the private sector in Jordan and Iraq faces, namely road transport of goods, and finding solutions to them.

Al-Tabba and al-Athari also discussed enhancing bilateral relations in various fields by increasing regular meetings.

They highlighted Jordan's role in Iraq's reconstruction, especially reopening factories that were forced to close by the political situation, which helps to create new job opportunities.

The two sides also discussed implementing a project to build an oil pipeline between the two countries.

According to a JBA press release, al-Tabba stressed that the private sector’s relations with its Iraqi peer is constantly improving.

He said Iraqi businessmen and investors in Jordan are well taken care of, noting that Iraq is one of the key countries investing in the Kingdom's various sectors.

Iraqi investments in Jordan are worth about $18 billion, and are mainly in the tourism, real estate, finance and food industries sectors, he added.

He said that the JBA is keen on launching real partnerships with Iraq, especially in the sectors of common interest.

Al-Tabba stressed that the Iraqi market is one of the traditional markets for Jordanian exports, stressing the importance of exchanging expertise in the fields of energy, renewable energy, health care and contracting.

He stated that the JBA is associated with a number of Iraqi economic actors with joint business councils, including the Iraqi Businessmen Association where a joint Business Council was established in 2003.

On tax exemptions, al-Tabba pointed to difficulties Jordan faces with regard to implementing the exemption from customs duties imposed by Iraq on goods exported to it which are estimated at 30 percent.

The Iraqi envoy lauded the deep and historical trade and economic relations between the two brotherly countries, noting that the Iraqi private sector is looking to further boost cooperation.

He stressed that the embassy is working on enhancing ties between the business community in both countries, stressing the role of the private sector and businessmen in developing them.

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