JBA, Spanish embassy discuss economic cooperation

AMMAN — The Jordanian Businessmen Association (JBA) on Monday held discussions with Economic and Commercial Attaché at the Spanish embassy in Jordan Victor Suanzes to explore ways for enhancing economic, trade and investment cooperation between the two countries.

JBA Board Member Michel Nazzal underscored the importance of enhancing economic ties by reactivating the Jordanian-Spanish Business Council, the Jordan News Agency, Petra, reported. 

He highlighted that the council plays a key role in fostering trade and investment collaboration, facilitating coordination between the private sector and business communities and supporting Spanish investments in the Kingdom’s "promising" economic sectors.

Nazzal called for increasing bilateral trade volume and enhancing Jordanian exports to Spain, noting that national products enjoy "strong market acceptance." 

He emphasised the need to capitalise on untapped export opportunities, particularly in the pharmaceutical, textile and mineral sectors, including potash, phosphate and copper. 

The JBA member also stressed the importance of boosting Spanish tourism to Jordan, promoting archaeological, religious and medical tourism, and boosting international tourism cooperation between the two countries.

Suanzes welcomed the reactivation of the Jordanian-Spanish Business Council, acknowledging its "significant" role in advancing economic and trade relations. 

He highlighted the importance of increasing bilateral trade, noting that Jordan’s free trade agreements facilitate trade flows between the two nations.

The attaché also emphasised the need to support joint investment projects and promote development opportunities through increased engagements between Jordanian and Spanish business communities.

Trade exchange between Jordan and Spain reached some $460 million in 2023, compared to $465 million in 2022, according to Petra.