Ammon News - President of the Jordan Chamber of Commerce (JCC) Khalil Haj Tawfiq met in Beirut with Secretary-General of the Union of Arab Chambers (UAC) Khaled Hanafi to discuss the ongoing arrangements for the 20th Conference of Arab Businessmen and Investors, which will be hosted by the Kingdom next October.

The UAC, JCC, and the Arab League are jointly organizing the Conference, set to commence on October 18th. The event will feature official Arab participation, as well as business and industry chambers, agriculture organizations, and joint Arab-foreign chambers of commerce. Arab and foreign investors and business owners, as well as banks and financial institutions, will also be in attendance.

Haj Tawfiq highlighted the significance of the upcoming conference, which will focus on exploring the investment climate, policies, incentives, and recent legislation in Jordan and other Arab nations to attract investments, as indicated in a statement by the JCC on Thursday.

Furthermore, he said that the current digital revolution has spawned new economies and established new market norms, necessitating all Arab nations, particularly the private sector, to prepare their infrastructure and take unconventional initiatives, as they have the resources to accommodate this critical advancement.

He also emphasized the significance of leveraging successful existing experiences to overcome new challenges and shift Arab nations from being consumer societies to productive ones, providing numerous new and innovative opportunities for the younger generation of entrepreneurs.

In turn, Hanafi pointed out that the JCC plays a prominent and distinctive role within the Union, and is one of the influential chambers within the Union's Board of Directors. The chamber consistently endeavors to work with all Arab parties to reinforce efforts toward Arab economic integration.

Emphasizing the chamber's significance at the local level, he noted that it represents one of the active entities within the Kingdom and has an effective role in collaborating with public sector institutions to design policies related to trade and service sectors, including information technology and communications. The chamber also participates in developing necessary strategies and plans for their implementation and is among the contributors to efforts aimed at developing and promoting trade and services, including medium and small-scale projects.

Additionally, he clarified that the investor conference serves as a crucial platform for bolstering inter-Arab investments and attracting foreign investment. He reaffirmed that Jordan and other Arab countries have crucial prerequisites to lure in investment projects in diverse sectors, including technology, energy, agriculture, renewable energy, tourism, and other pivotal strategic sectors.

Hanafi drew attention to the fact that the upcoming phase of economic cooperation among Arab nations should surpass the conventional notion of trade and investment exchange, advancing towards the stage of strategic partnership by effectively preparing for the establishment of a customs union and standardizing specifications for goods and services. This will foster the competitive edge of Arab countries and facilitate economic advancement.