Jordan-Qatar Strategic Cooperation Enhances Trade, Visitors, And Employment Opportunities

(MENAFN- The Peninsula) QNA

Amman: Jordan is looking to build new and broad economic relations with Qatar, aiming to boost trade exchanges between the two countries and expand the base of joint investment projects.

Rich in economic opportunities, Jordan seeks to attract new Qatari investments and expand existing ones, particularly in the real estate, tourism, industry, energy, and financial sectors.

The two countries are linked by several bilateral agreements, including a twinning agreement between the Jordanian Court of Cassation and its Qatari counterpart, an agreement on mutual administrative assistance for the optimal application of customs law and the prevention, investigation, and combat of customs violations, and a memorandum of understanding for cooperation in the field of labour.

According to statistics from the Jordanian Ministry of Higher Education and Scientific Research, the number of Qatari students studying at Jordanian universities is 2,530, across bachelor's, master's, and doctoral programmes.

In 2024, the number of Qatari tourists visiting Jordan during the first nine months of the year reached 21,830, compared to 17,463 in the same period in 2023, marking an increase of 25 percent.

Additionally, the two countries have a cultural cooperation agreement, a revised agreement on cooperation in standardisation activities between the Jordanian Standards and Metrology Organization and the Qatar General Organization for Standards and Metrology, as well as agreements to encourage and protect mutual investments, avoid double taxation, prevent tax evasion on income, the Greater Arab Free Trade Area (GAFTA) agreement, and a commercial and economic cooperation agreement.

Bilateral agreements have also been signed between the Jordan Chamber of Commerce and the Amman Chamber of Commerce with the Qatar Chamber of Commerce and Industry (QCCI), including a protocol to establish the Jordanian-Qatari Business Council and an agreement to create the Qatari-Jordanian Economic Events Council.

According to the Amman Chamber of Commerce, the value of Qatari investments on the Amman Stock Exchange (ASE) last year reached approximately JOD756m, ranking fourth among foreign investments in the exchange, with 385 shares and 184 million securities.

Qatar has committed to providing 10,000 job opportunities for Jordanians in Doha, along with a package of investments targeting infrastructure projects valued at $500m.

The number of Qatari investors in Jordan registered with the Ministry of Industry, Trade, and Supply reached 80 partners, with a total capital of JOD5.5m, while the number of Qatari partners registered with the Amman Chamber of Commerce was 26, with capital of 2.6 million dinars.

In his remarks to QNA, Chairman of the Jordan Chamber of Commerce, Khalil Haj Tawfiq stated that there is ongoing economic cooperation with Qatar, noting that the private sector is working to strengthen it.

Tawfiq called for creating economic integration between the two countries as a foundation for broader Arab economic integration, and for establishing sustainable business and investment partnerships between Jordanian and Qatari entrepreneurs.

He emphasised that Qatari investments in Jordan play a significant role in supporting the national economy and creating job opportunities. According to the statistics on Qatar's Planning and Statistics Authority's (PSA) website, the volume of trade exchange between the two countries during the past year amounted nearly QR910m, compared to QR860m during 2023, and QR800m during 2022.

Jordan's exports to Qatar include many diverse consumer and food goods and products, including fresh and processed food products and materials, vegetables and fruits, all types of dates, fresh cheeses and dairy products, meat and poultry, grains, rise, herbs, honey, and Jordanian coffee.

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