Jordan, Egypt meet to enhance investment cooperation

AMMAN — The Jordan Chamber of Commerce (JCC), in cooperation with the commercial representation office at the Egyptian embassy in Amman and the Egyptian Export Council, on Monday organised a meeting to foster investment cooperation between Jordan and Egypt.

The meeting focused on overcoming challenges related to the entry of Egyptian products into the Jordanian market and vice versa, the Jordan News Agency, Petra, reported.  

Discussions covered the potential for Egyptian products to enter regional markets through the Kingdom and Jordanian products to access African markets via Egypt.

Ibrahim Nawaiseh representative of the construction and building materials sector and member of the board of directors of the JCC, expressed optimism that the meeting would lead to commercial partnerships between companies from both countries.

Nawaiseh highlighted Jordan's efforts to boost trade relations with Arab countries to mitigate regional challenges affecting investment and export opportunities.

He also referred to the Kingdom's high-quality products in the building materials sector, which are "competitive" with imports and could meet some of Egypt's market needs.

Chairman of the Egyptian Export Council Khaled Makarem described the visit as a "significant step" towards enhancing trade and economic relations between Jordan and Egypt, highlighting the commercial cooperation potential in chemicals, building materials, fertilisers, glass, plastic, and packaging sectors.

Makarem also highlighted the geographic and economic importance of tripartite cooperation between Egypt, Jordan, and Iraq, and the industrial partnership linking Egypt, the Kingdom, the UAE, Bahrain, and Morocco.

He recognised the Kingdom as a gateway to neighbouring markets and Egypt as a gateway to African markets.

Tayseer Younis member of the JCC and representative of the chemicals health and cosmetics sector highlighted the meeting's role in enhancing cooperation and building complementary relationships. 

Younis noted that the health sector in the chamber includes importers of medicines, medical supplies, cosmetics, hospitals, and pharmacies, with Jordan annually importing $200 million worth of medicines and $100 million worth of medical supplies.

Representatives of Egyptian companies stressed the importance of the Jordanian market describing it as a "promising platform" for entering other Arab markets.