Business associations' reps participate in investment conference

[14-07-2021 10:53 AM]

Ammon News - Representatives of business associations took part in a two-day conference titled "Stimulating Investment During the Bicentennial," which was organized by the Jordan Investment Commission.

During the conference, President of the Jordan Europe Business Association (JEBA), Jamal Badran, said that relations between Jordan and the European Union are advancing, thanks to the continued efforts by both sides to enhance cooperation in areas of common interest.

Jordan's relations with the European Union, he indicated, are based on an action plan and a partnership agreement, in addition to ongoing coordination and meetings at the highest level between the two sides, the last of which was His Majesty King Abdullah II's visit to Brussels last May.

Despite the Union's announcement in December 2018 to soften the terms of the Simplified Rules of Origin Agreement with Jordan, the benefit achieved is still limited, Badran noted. He cited the weak marketing of Jordanian products in EU markets, the increasing costs of shipping goods to EU countries, legislative instability and change in laws, especially those related to trade, fees and customs as a discouraging factor.

He stated that the high costs of electrical energy on factories, and the poor ability of Jordanian industrialists to meet the quality requirements of the European Union, are among the factors that limited the benefit of the Simplified Rules of Origin Agreement.

Badran indicated that the role of business associations in Jordan lies in promoting Jordanian exports, attracting investors, and forging bilateral partnerships by boosting the partnership with the public sector, with the aim of unifying efforts to attract more foreign investments and encourage European and international multinational companies, in addition to utilizing relations with European and international business associations.

The JEBA organizes trade missions to many European countries, including Greece, Sweden, Poland, Romania, Slovenia, Hungary, the Netherlands, Montenegro, Bulgaria, Italy, Belgium, Croatia, Macedonia, Spain and many others.

It also receives economic missions from European countries, organizes open meetings between commercial attaches at European embassies and members of the association, organizes international conferences and exhibitions, in addition to expert programs that help small and medium-sized companies access European markets and enhance their competitiveness.

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