Bahraini Investments In Jordan Reach $1 Billion - ACC

(MENAFN- Jordan Times) AMMAN - The Amman Chamber of Commerce (ACC) announced on Monday that Bahraini investments in Jordan have reached $1 billion, diversifying across sectors such as trade, industry and tourism.

The chamber also said that Bahrain has secured the fourth position in foreign investments in the Amman Stock Exchange, with its value exceeding $1.2 billion by the end of April, the Jordan News Agency, Petra, reported.

The two kingdoms are linked by a multitude of cooperation agreements spanning various fields, including the Greater Arab Free Trade Area (GAFTA), the Joint Business Council Agreement, a double taxation avoidance agreement, and an agreement for the prevention of tax evasion for capital taxes.

In 2023, the trade between Jordan and Bahrain was approximately JD92 million, a decrease of JD43.8 million from the JD136 million in 2022.

ACC also noted that Jordanian exports to Bahrain increased by JD2 million, amounting to JD47.9 million in 2023, compared with JD45.9 million in 2022. However, Bahraini imports to Jordan in 2023 decreased by JD45.8 million, amounting to JD44.3 million, compared with JD90.1 million in 2022.

During the first two months of this year, the trade value reached JD10.6 million, which includes JD5.8 million in Jordanian exports to Bahrain and JD4.8 million in imports from the Gulf kingdom.

The ACC also issued 2,749 certificates of origin for Bahrain last year, valued at approximately JD16 million while the first quarter of this year saw the issuance of 750 certificates worth JD4.2 million.

The number of Bahraini partners registered with the ACC until May 4 stood at 24 partners with a total share value of around JD553 million.

In February 2023, Jordan, the United Arab Emirates, Egypt, and Bahrain signed 12 agreements during the third meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development. These agreements span sectors such as agriculture, pharmaceuticals, minerals, chemicals, electric vehicles, and waste management, with a total value of around $2 billion.

The committee announced partnerships in nine integrated industrial projects with an investment value exceeding $2 billion in vital sectors, where these projects are expected to contribute to increasing the GDP in the partnership countries by over $1.6 billion and providing 13,000 direct and indirect job opportunities in the four countries.


Jordan Times

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