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Ammon News - AMMONNEWS - Qatar-Jordan bilateral trade volume is expected to witness sharp jump this year, which may even double in coming years, top Qatari and Jordanian private industry representatives said yesterday.

Senior officials from government and private sector from both the nations are working closely to cement economic ties and establishing joint ventures to boost bilateral cooperation in a wide range of sectors, including logistics and other related services to boost trade exchange.

“Today we discussed several issues to improve trade and investment relations between Qatar and Jordan. We have a Joint Council, which met last year, and the same Council is going to meet this year in Amman. We have already received an invitation from the Jordan Chamber of Commerce and Industry,” Sheikh Khalifa bin Jassim Al Thani, Chairman of Qatar Chamber (QC) told The Peninsula on the sidelines of a meeting with the members of a high-level Jordanian business mission led by Chairman of Jordan Chamber of Commerce Nael Raja Al Kabariti.

Sheikh Khalifa added: “We hope that bilateral trade volume will increase this year and coming at a significant rate. Last year, despite the siege, the trade volume between Qatar and Jordan did not decrease given the fact most Jordanian goods entered Qatar through land route on trucks until June 5, 2017. But due to the ongoing blockade we explored alternative route, and Jordanian goods are now re-exported to Qatar from Kuwait through sea route and vice-vice versa.” Qatar-Jordan trade volume in 2017 stood at $400m (QR1.45bn). Most Jordanian exports to Qatar include agricultural products, such as vegetables, fruits, meat and livestock among others.

Qatar’s exports to Jordan include chemicals, petrochemicals, and pharmaceutical products. Qatar’s investments in Jordan are mainly in banking, finance, real estate and power sectors. Some investments are also there in the field of retail and commercial business establishments such as malls and shopping centres. So there is a huge potential to expand in new areas.

Jordan’s business interests in Qatar are spread across in all sectors of the Qatari economy, which are expanding their footprint. More Jordanian companies are establishing joint ventures to make Doha as business hub to re-export their products, and bilateral cooperation is expanding fast.

“Jordan is one of the most secured destinations among the Arab countries. We are exploring ways and identifying new areas to boost bilateral trade and investment,” said Sheikh Khalifa.

On his part, Senator Al Kabariti, a prominent businessman and a member of the upper house of the Jordanian parliament, added: “The value of trade exchange between Qatar and Jordan, which remains between $400m and $500m, is very low given the high potential of growth. I am sure the bilateral trade volume will double in the year 2018-19.” Al Kabariti, who is also the Chairman of Arab Chambers Union, noted that today’s meeting comes in the context of strengthening and developing bilateral relations.

He pointed out that the siege has affected the Jordanian imports to Qatar and raise prices to 20 percent, but things are going to improve very soon for mutual interests.

Also present at the meeting were Chairman of Amman Chamber of Commerce Esa Haider Murad, the Jordanian businessman Mohamed Al Kilany and Deputy Jordanian Ambassador Amjad Al Mebyadeen. Qatar Chamber Vice-Chairman Mohammed bin Towar Al Kuwari, board members and Director-General Saleh bin Hamad Al Sharqi.

*The Peninsula Qatar