Jordan, Kuwait Discuss Trade, Investments Opportunities

Published November 20th, 2019 - 08:30 GMT
Jordan, Kuwait Discuss Trade, Investments Opportunities
Jordan is perfectly ready to cooperate with the Kuwaiti side to increase commerce and enhance both countries’ private sectors. (Shutterstock)
Highlights
The minister called for effective economic partnerships between the two countries’ private sectors in various fields

During a meeting with a Kuwaiti economic delegation to the Kingdom on Tuesday, Minister of Industry, Trade and Supply Tareq Hammouri highlighted the importance of economic integration between the two countries.


The minister called for effective economic partnerships between the two countries’ private sectors in various fields, according to the Jordan News Agency, Petra.

“The Jordanian and Kuwaiti governments are concerned with providing all facilitations for their countries’ private sectors to build economic partnerships, especially in the fields of investment and commerce, to serve bilateral interests and enhance benefits from the signed agreements and memoranda of understanding,” said Hammouri, highlighting “the Jordanian government’s readiness to sign any agreements with their Kuwaiti counterparts to enhance the private sector”.

The minister called on Kuwaiti businesspeople and investors to benefit from the “great” opportunities provided by the free trade agreements Jordan has signed with several countries, especially the US, Canada and the European Union. 

Hammouri encouraged Kuwaiti investors to invest in Jordan and export to “the most important international markets” through Jordan’s free trade agreements.

He also encouraged Kuwaiti businesspeople to benefit from the recently signed decision between Jordan and the EU to simplify the rules of origin, which enhances export opportunities. 

“Jordan is perfectly ready to cooperate with the Kuwaiti side to increase commerce and enhance both countries’ private sectors to build shared investment projects,” Hammouri said.

During the meeting, the ministry’s Secretary General Yousef Shamali highlighted the importance of facilitating the exchange of expertise between the two sides in all fields.

For his part, Chairman of the delegation and Director General of The Kuwaiti Public Authority for Industry Abdulkarim Taqi called for the activation of all agreements between the two countries, and commended Hammouri’s suggestions. 

Also on Tuesday, Minister of Agriculture Ibrahim Shahahdeh met with the delegates to discuss the importance of investing in Jordan’s food industry and removing hindrances to bilateral relations, according to Petra.

Meanwhile, Jordan Investment Commission (JIC) General Secretary Faridon Hartouqa met with the delegation discussing ways to increase the volume of investments and trade exchange with Kuwait.

Hartouqa briefed the gathering on a set of investment opportunities in various fields, highlighting the competitive features that have made the Kingdom a destination for investors from various countries, according to Petra.

The volume of Kuwaiti investments in the Kingdom is the highest among Arab countries, he said, voicing keenness to increase these ventures, and expressing the Kingdom's readiness to facilitate them. 

The JIC, during a promotional tour in Kuwait and Saudi Arabia, announced the opening of an office to follow up on investors’ affairs.

For his part, Taqi reiterated Jordan-Kuwait "deep ties" in various fields and lauded the JIC's services, mainly its support to Kuwaiti businesspeople in the Kingdom.

He also expressed hopes to increase the volume of Kuwaiti investments in the Kingdom, citing Jordan's strategic position in the region and the "promising" investment advantages it offers.


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