Turkish businesspeople urged to invest in Jordan

AMMAN — The government on Sunday encouraged Turkish businesspeople to implement investment projects in Jordan that entitle them to benefit from free trade agreements as well as incentives offered by special economic zones.

Speaking at the Turkish-Jordanian Business Forum, Prime Minister Abdullah Ensour highlighted the need for "co-production" and for Turkish industries and technologies to be based in Jordan, reiterating the government's commitment to facilitating the required procedures.

Once settled in Jordan, products of Turkish investments can benefit from the Kingdom's free trade agreements with North America and Europe, he said.  

The premier added that developing a regular line for maritime transport between Iskenderun and Aqaba ports through the roll on-roll off system will significantly enhance commercial and economic cooperation.

He also cited a great potential to enhance religious tourism, where Turkish tourists can visit a large number of shrines, highligting Jordan as the passageway of Turkish pilgrims on their way to visit Al Aqsa Mosque.

For his part, Turkish Prime Minister Ahmet Davutoğlu said advancing bilateral ties in the fields of economy, tourism and culture are central for mitigating the impacts
of regional unrest.

He noted that the free trade agreement between Turkey and Jordan, signed in 2009, has increased trade volume from $55 million to $1 billion, yet economic cooperation should grow further.

Davutoğlu said the Aqaba port is "strategic" to Turkish trade, highlighting Turkish Airlines' readiness to increase the number of its weekly flights to Aqaba and Amman.

Organised by the Jordanian Businessmen Association (JBA) and the Turkish Foreign Economic Relations Board (DEIK), the forum is a venue for businesspeople from the two countries to negotiate possible cooperation in bilateral meetings, according to JBA President Hamdi Tabba.

He noted that the opening of the Turkish Cooperation and Development Agency Coordination Office in Amman is expected to provide support in the implementation of grants and technical assistance offered by the Turkish government to Jordan.

Ibrahim Caglar, board member of DEIK, vice president of the Union of Chambers and Commodity Exchanges of Turkey and president of the Istanbul Chamber of Commerce, said the scrapping of visas and enhancing customs cooperation can further enhance economic and commercial ties. 

Aqaba Special Economic Zone Authority Deputy Chief Commissioner Yusuf Mansur briefed Turkish businesspeople on possible investment opportunities in the zone, including the King Hussein International Airport, logistic and industrial cities, solar energy projects and a sports city.

Jordan Investment Commission President Thabet Al Wir highlighted development zones as major investment attractive areas that exempt businesses from all taxes and customs duties, except for a 5 per cent income tax.

He said Jordan has qualified workforce, suitable infrastructure, an encouraging investment environment and rule of law, adding that the Kingdom's commercial agreements allow its products to reach around 1 billion consumers.

Wir cited the fields of tourism, energy, ICT, healthcare and pharmaceuticals as promising sectors for new investments.