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Ammon News - Jordan is keen on sustaining Iraqi investments, attracting new investments and addressing any obstacles facing them, Minister of Industry, Trade and Supply Maha Al Ali said on Thursday.

Speaking during a virtual meeting organised by the Iraqi Business Council in Amman, Ali stressed that existing coordination between Jordan and Iraq will be transformed into practical projects, which will increase the commercial exchange between the two countries currently standing between JD400 million and JD500 million.

The minister noted that the next phase will include increased attention to boost commercial exchange in parallel with establishing strategic mega-projects in the fields of energy, transport, industrial integrations and agriculture, in addition to the Jordanian-Iraqi economic estate project that is still under consideration, the Jordan News Agency, Petra, reported.

Chairman of the council Majed Saidi said that despite the challenges, Iraqi investors are staying in Jordan due to the “brotherly” relations between the two countries and the state of security and stability in the Kingdom.

Saidi also referred to several challenges that still face Iraqi investors in Jordan, mainly procedures for receiving entry and residency visas, “unstable laws”, taxes, operational costs and “unjust competition” for industrial products by goods imported to the Jordanian market.

Chairman of the Jordan Chamber of Industry Fathi Jaghbir highlighted the importance of reconsidering the investment system in the Kingdom in a way that enables Jordan to attract new investments that can contribute to alleviating high unemployment rates, increasing productivity and realising self-reliance.