Jordan, Egypt Discuss Ways To Boost Investment Cooperation

(MENAFN- Jordan News Agency)

Amman, June 3 (Petra) - The Jordan Chamber of Commerce, in coordination with the Commercial Representation Office at the Egyptian Embassy in Amman and the Egyptian Export Council for Chemical Industries, Fertilizers, Building Materials, Refractories, and Mineral Goods, organized a meeting on Monday to foster investment cooperation between Jordan and Egypt.
The meeting, which followed field visits by representatives from 23 Egyptian companies to various Jordanian companies, focused on overcoming challenges related to the entry of Egyptian products into the Jordanian market and vice versa. Discussions also covered the potential for Egyptian products to enter regional markets through Jordan and for Jordanian products to access African markets via Egypt.
Ibrahim Nawaisa, a representative of the construction and building materials sector and a member of the Board of Directors of the Jordan Chamber of Commerce, expressed optimism that the meeting would lead to commercial partnerships between companies from both countries.
Nawaisa highlighted Jordan's efforts to strengthen trade relations with Arab countries to mitigate regional challenges affecting investment and export opportunities. He praised the strong, trust-based Jordanian-Egyptian relations, rooted in mutual respect and shared interests.
Nawaisa noted Jordan's high-quality products in the building materials sector, which are competitive with imports and could meet some of Egypt's market needs, calling for expanded cooperation in this strategic sector, including the exchange of expertise and knowledge to enhance product quality in both countries.
The meeting aimed to boost trade exchange by strengthening economic ties, fostering new partnerships, sharing knowledge, and understanding market dynamics in each country, he pointed out.
Khaled Abul Makarem, Chairman of the Egyptian Chemicals Export Council, 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, fertilizers, glass, plastic, and packaging sectors.
Abul Makarem also highlighted the geographic and economic importance of tripartite cooperation between Egypt, Jordan, and Iraq, and the industrial partnership linking Egypt, Jordan, the United Arab Emirates, Bahrain, and Morocco.
He recognized Jordan as a gateway to neighboring markets and Egypt as a gateway to African markets, advocating for integrated efforts to capitalize on each country's comparative advantages.
Tayseer Younis, member of the Jordan Chamber of Commerce and representative of the chemicals, health, and cosmetics sector, stressed the meeting's role in enhancing cooperation and building complementary relationships. These relationships would boost the presence of Jordanian products in Egyptian and African markets and Egyptian products in Jordanian and regional markets.
Younis noted that the health sector in the Jordan Chamber of Commerce 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.
Nourhan Anani, representative of the Egyptian Export Guarantee Company, stated that the company aims to facilitate the exchange of Egyptian exports to Jordan and imports from Jordan. The company, she added, works on using guarantees to devise solutions for financing needs, including exports, imports, and internal trade.
Representatives of Egyptian companies acknowledged the importance of the Jordanian market, describing it as a promising platform for entering other Arab markets.


Jordan News Agency

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