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Ammon News - Minister of Industry, Trade and Supply, Yousef Shamali, stressed the importance of Jordanian-Algerian action to enhance economic joint cooperation in various fields and best benefit from the available opportunities and areas based on their "deep-rooted historic" relations.

Speaking at a meeting in Algeria on Sunday, with Algerian Minister of Trade and Export Promotion, Kamal Rezik, Shamali stressed the opportunity has come to increase volume of trade exchange, establish joint investments in both countries and stimulate their private sectors, according to a ministry statement

Shamali, who started a visit to the North African country, Saturday evening, to discuss areas of economic cooperation and prepare for the upcoming meetings of the joint committee, said Jordan is keen to develop economic cooperation with Algeria in various fields, especially at this stage that requires intensifying efforts to counter the current challenges and the Covid-19 pandemic-related repercussions and regional and international developments.

During the meeting, which was also attended by Algerian Chamber of Commerce and Industry (ACCI) president, and a number of Algerian businesspeople, Shamali reviewed the volume of joint trade exchange during 2020, which amounted to $213 million, compared to $197 million in 2021, a decrease of nearly 8%.

The volume of trade exchange during the first quarter of 2022 amounted to about $72 million, compared to $32 million for the same period in 2021, he added.

In addition, Shamali touched on Jordan's comprehensive reforms in the economic fields, which finally culminated in launching Economic Modernization Vision for the next ten years and represents an extended action program for economic advancement.

In this regard, he also referred to the government’s efforts to increase the Kingdom's investment attractiveness, as work is currently underway to complete preparation of a new draft law on the investment environment.