Jordan-Qatar trade balance stood at $87.5 million in first-half of 2020

AMMAN — The trade balance between Jordan and Qatar in the first-half of 2020 totalled 318.5 million Qatari riyals (some $87.5 million), Vice Chairman of the Qatar Chamber of Commerce and Industry Mohamed Kawari said on Monday.

The total amount included 93.6 million Qatari riyals (around $25.7 million) as Qatari exports to Jordan, and 224.9 million Qatari riyals (around $61.8 million) as Jordanian exports to Qatar, Kawari told the Jordan News Agency, Petra, in an interview in Doha.

The vice chairman said that the trade exchange between the two countries witnesses "continuous growth", adding that Doha and Amman enjoy "close" economic, trade and investment relations.

He also pointed out that Qatar is among the top countries in terms of investment volume in the Kingdom through projects in the energy, tourism, banking, stock and real estate sectors.

Kawari noted that the Qatari investors and businesspeople “prefer Jordan” for investment in the Arab region, especially that the Kingdom enjoys "attractive and stimulating business environment", mainly easy procedures for starting investments and freedom to transfer profits.

He also called for intensifying efforts to enhance cooperation in all fields to form a starting point for pan-Arab economic integration and establish sustainable commercial and investment partnerships among the countries' businesspeople.

The vice chairman added that Qatari investments in Jordan play "a vital role in supporting the national economy" through providing job opportunities for thousands of young people.

The number of Qatari-Jordanian companies operating in the Gulf country totalled 1,750 by the end of 2019, up from 1,550 by the end of 2018 and 1,340 by the end of 2017, Petra said.

Qatari investments in the Amman Stock Exchange is among the top five with a value exceeding $1.3 billion covering the real estate, financial and tourism sectors.

Jordan's top imports from Qatar include lubricants, kerosene, liquefied gas and fertilisers, while Qatar mainly imports fruits and vegetables, livestock, chemicals, medicines, phosphate and potash, according to Petra.