Qatar may double investments in Jordan in coming three years

AMMAN — Qatar on Wednesday expressed interest in diversifying its investments in the Kingdom and increasing them over the next three years from their current volume of $2 billion to $4 billion, especially in the tourism and financial market sectors.

The remarks were made during a meeting between Minister of State for Investment Affairs Muhannad Shehadeh and Qatari Minister of Commerce and Industry Ali Bin Ahmed Al Kuwari in Doha, during which they also discussed the means to enhance commercial and investment cooperation between the two countries, the Jordan News Agency, Petra, reported.

Shehadeh commended the Jordanian-Qatari relations at all levels, stressing that they are on the “right path”, especially in the economic sector.

The minister referred to the Kingdom’s interest in expanding Jordanian exports of food products, which are charecterised by “high quality and competitiveness”, to the Qatari market, stressing that such a move would contribute to developing trade exchange between Amman and Doha.

He expressed his hope that inaugurating the Aqaba-Doha marine route will play a role in increasing the trade exchange volume, especially that the route will reduce the transport time to eight days.

For his part, Kuwari stressed that his country is looking for new solutions to facilitate the entry of Jordanian products, mainly fruit and vegetables, to the Qatari market, noting that Doha has plans to increase investments in Jordan and expressing hope of establishing joint projects that can serve both countries’ economies.

Shehadeh also met with Qatari Prime Minister and Minister of Interior Sheikh Abdullah Bin Nasser Bin Khalifa Al Thani over bilateral relations and means to enhance them in various sectors, especially the economic ones, according to Petra.

In another meeting with Qatari Minister of Finance Ali Shareef Al Emadi, talks were focused on the ways to develop economic cooperation between the two countries.

Also on Wednesday, Shehadeh and Kuwari inaugurated the Jordanian industries exhibition in Doha, which is held with the support of the Amman Chamber of Industry (ACI) and the Jordan Investment Commission with the participation of 100 Jordanian industrial companies. 

Shehadeh said that the participation of 100 companies is a major tool for economic communication, which can lead to building more commercial and industrial partnerships between both countries’ private sectors, according to Petra.

ACI President Fathi Ghaghbir highlighted the importance of organising a specialised exhibition for Jordanian industries in Qatar to help promote and enhance the presence of national products in foreign markets, and to communicate and start partnerships with Qatari merchants and importers. 

The Kingdom’s exports to Qatar in the first 11 months of 2018 amounted to some JD87 million, while Qatari exports to Jordan were valued at around JD82 million.