Doha-held meeting takes stock of Jordan, Qatar trade developments

AMMAN — Jordanian Businessmen Association (JBA) President Hamdi Tabbaa on Wednesday lauded "solid" Amman-Doha ties, which have "great" potential for economic cooperation.

Speaking during a meeting of the Jordanian-Qatari Business Council, Tabbaa briefed the gathering on new investment projects in the fields of services, trade and industry.

Qatari investments in the Kingdom's energy, real estate and banking sectors have reached $2 billion, while Qatar’s investments in the Amman Stock Exchange total $1.1 billion, to take the third place among Arab countries investing in Amman’s bourse, he said, adding that Qatar owns a total of 183 securities and some 383 shares.

The Jordanian-Qatari trade balance has tilted in the Kingdom's favour, reaching $29 million in 2018, he said, adding that trade exchange between Amman and Doha improved in 2018 in comparison with 2017, reaching $263 million.

During the Doha-held gathering, Chairman of the Qatari Businessmen Association Sheikh Faisal Bin Qassim Al Thani praised "deep rooted" Amman-Doha ties, commending the two countries' private sector cooperation, the Jordan news Agency, Petra, reported.

Jordanian Ambassador to Qatar Zeid Lozi affirmed that Jordanian-Qatari trade exchange has increased by 18 per cent to reach 1.3 million Qatari riyals in 2018, while 175 Jordanian companies entered into Qatari partnerships during the first nine months of 2019.

Lozi also went over the government's stimulus package, announced this week, to encourage investment and improve the national economy, drawing attention to the government's decision to reduce registration fees and ownership transfers of apartments and land by 50 per cent.