Jordan, Kuwait, Qatar discuss economic ties

[19-01-2021 12:02 PM]

Ammon News - The Jordanian Businessmen Association (JBA)'s Board of Directors held Monday separate meetings with Ambassadors of Kuwait and Qatar to Jordan Aziz Daihani and Sheikh Saud bin Nasser Al Thani, respectively.

The meetings discussed ways to develop economic and investment ties between Jordan, Kuwait and Qatar, and the role of the private sector's institutions in this regard, a JBA statement said.

Talks touched on resolutions of the 41 Gulf Cooperation Council (GCC) summit, especially those related to the economic aspect, and mechanisms for enhancing joint cooperation between the Jordanian business community and the GCC countries.

In his meeting with Ambassador Daihani, JBA President Hamdi Taba' lauded the deep-rooted ties with Kuwait on various levels, and said that it constitutes a model for joint cooperation, especially in investment and economic fields.

He pointed out that Kuwait is the top investor in Jordan at the Arab level, with investments of nearly $18 billion in the fields of energy, real estate investment and infrastructure.

He indicated that the two countries share many agreements, including those related to encouraging and protecting mutual investments and double taxation, in addition to memoranda of understanding (MoU) in the economic, commercial and investment fields, which contributed to developing bilateral relations and enhancing joint economic cooperation.

Daihani indicated, for his part, said that the two countries enjoy a number of advantages that attract investment, in addition to a number of promising economic sectors on both sides, stressing the importance of enhancing ties between both countries' business communities and establishing more joint Jordanian and Kuwaiti investments in various fields.

He indicated that the Kuwaiti private sector is keen to invest in Jordan due to Jordan's competitive advantages and promising sectors, stressing the need to activate the agreements signed between the two countries.

He explained that the GCC ambassadors aim to reflect outcomes and decisions of the 41 summit, especially with regard to supporting Jordan, pointing out to the importance of expanding and diversifying the mutual investments base between the two countries, which will contribute positively to the sustainable development process.

Ambassador Dihani added that the coronavirus (Covid-19) pandemic demonstrated the importance of cooperation and coordination between Arab countries, pointing out to the importance of activating joint Arab action, especially in the field of achieving food and medicine security.

During his meeting with Qatar's Ambassador, Taba' said the Jordanian-Qatari ties are dynamic and there are common economic interests regulated by a number of mutual agreements and MoUs.

He explained that the JBA is making unremitting efforts to enhance economic, trade and investment ties between the two countries through the Joint Jordanian-Qatari Business Council, which was established in 2005 with the Qatari Businessmen Association, which constitutes the link between the two business communities.

The JBA President expressed appreciation for decisions of the Al-Ula summit in support of Jordan, which requires work to devise an economic and investment plan between the GCC countries and the Kingdom.

Taba' affirmed that resuming joint Gulf action is an important and fundamental factor and a real pillar for the stability of the region and resolving the outstanding issues that pose challenges that hinder the achievement of Arab cooperation in a way that establishes the principles of economic integration.

Taba' pointed out that the volume of Qatari investments benefiting from the investment law amounted to about $226 million, most of which was concentrated in the energy sector, stressing that Jordan seeks to attract new Qatari investments and expand the existing ones in real estate, tourism, industry, energy and financial market sectors.

Ambassador Al Thani, in turn, indicated that Jordanian-Qatari ties have maintained their strength despite all circumstances, stressing that the Qatari private sector is very keen on developing economic and investment relations with the Jordanian business community in various vital sectors.

He indicated that the "Al-Ula" summit reflected the great importance of Jordan for the GCC, underlining the need to preserve existing investments in the Kingdom, improve the investment environment, facilitate procedures and stabilize legislation, noting that there are a number of investment opportunities available thanks to the efforts of His Majesty King Abdullah in attracting Arab and foreign investments.

The Qatari Ambassador added that Qatari investments in Jordan have witnessed a remarkable improvement in recent years, especially in the fields of electricity and renewable energy, explaining that his country is the main importer of vegetables, fruits and foodstuffs from the Kingdom.

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