JEF hosts British ambassador to discuss prospects for economic cooperation

AMMAN — The Jordan Economic Forum (JEF) has hosted British Ambassador to Jordan Philip Hall, during a recent discussion session on Jordanian-British relations.

JEF Chairman Mazen Hmoud and members of the Board of Directors and the General Assembly of the forum attended the event, the Jordan News Agency, Petra, reported. 

Hmoud stressed that the relations between Jordan and the United Kingdom extend for many decades, and are characterised by their "historical depth" and close cooperation in various field. 

Hmoud noted that this "strong bond" includes relations between the two Royal families, especially between His Majesty King Abdullah and King Charles, who have met twice in recent months, as well as the ongoing coordination between the two governments in political, economic and security affairs.

The ambassador announced that efforts are underway to establish a Jordanian-British business council, expressing his aspirations to announce it officially in the next few months.

Hall noted that the UK accounts for about 10 per cent of Jordan's imports of the services sector, while goods constitute a smaller proportion ranging between 2 and 3 per cent of total imports.

He added that the services sector is the most growing field, noting that Jordan has great potential in this sector, especially in the fields of ICT and financial services.

The envoy said that Jordan has "great" opportunities in the ICT sector, as it has a "strong" market that relies on qualified cadres who speak fluent Arabic, which gives it a competitive advantage in providing services to regional Arabic-speaking markets.

Hall also referred to the pharmaceutical sector, pointing out that the Jordanian Hikma company is "one of the largest" companies registered in the UK, as it is classified in the "FTSE 100" index for the largest hundred companies on the London Stock Exchange.

He mentioned the free trade agreement signed between the two countries, explaining that despite the signing of the agreement, there are some challenges facing its implementation on the ground.

The diplomat added that the free trade agreement between Britain and Jordan came after Brexit, and is very similar to the agreement that linked Jordan to the EU in terms of trade conditions and customs exemptions.

The ambassador stressed his country's commitment to boosting relations with the Kingdom, noting that the strength of the Jordanian economy is a vital factor in the region, and depends on promoting economic development and political participation.

The ambassador pointed out that more than 80 per cent of the total British aid provided to Jordan goes to support the humanitarian sectors and protect refugees and host communities.

Hall noted that the UK seeks to support Jordan in providing protection and basic needs for refugees, in addition to supporting the local host communities.