Jordan, Hungary discuss means to enhance economic ties

AMMAN — Jordanian Businessmen Association (JBA) President Hamdi Tabbaa and Hungarian Ambassador Attila Kali on Saturday discussed prospects of enhancing economic relations between the two countries and reactivating the Jordanian-Hungarian Joint Business Council.

Tabbaa stressed the need to reinvigorate the business council, which links the JBA and the Hungarian Investment Promotion Agency, and intensify meetings to highlight promising investment opportunities and boost Jordanian-Hungarian partnerships across various economic sectors, the Jordan News Agency, Petra, reported.

Tabbaa referred to "remarkable" improvement in many Jordanian sectors, especially tourism, real estate, food industries, energy, and ICT, stressing the need to increase the trade volume and Jordanian exports to Hungary.

The Hungarian envoy noted that relations with Jordan are "steadily growing," pointing to the development of many Jordanian sectors, particularly finance, ICT and services.

He stressed the need to reactivate the Joint Business Council and build investment partnerships, particularly in food and tourism industries, increase the trade volume and enhance untapped export opportunities, including fertilisers, pharmaceuticals and chemicals.

Kali pledged the embassy will provide facilities for businesspeople in both countries, support cooperation between private sector institutions and ease procedures to increase the number of Hungarian tourists to the Kingdom.

The volume of trade between the two countries stood at some $49 million in 2023, where vegetables, electrical equipment, machinery and food products were key Jordanian exports to the Hungarian market.