Jordan keen to boost trade with Pakistan

Envoy urges local entrepreneurs to explore investment opportunities in his country

ISLAMABD:

Jordan values its fraternal ties with Pakistan and is keen to increase trade with the country for mutual benefit, said Ambassador of Jordan Ibrahim Almadani.

During his visit to the Islamabad Chamber of Commerce and Industry (ICCI), both sides talked on a wide range of areas for further enhancing bilateral trade and economic relations between Jordan and Pakistan.

He said that Jordan and Pakistan shared the same religion, culture and values, which provided them with strong foundations to further boost trade and economic ties. He said that Jordan was empowering its private sector, liberalising the economy and was open for JVs.

“Therefore, Pakistani entrepreneurs should explore JV and investment opportunities in the free economic zones of Jordan,” said the envoy. He said both countries had good potential to cooperate with each other in tourism, pharmaceuticals, agriculture, defence and other fields.

Almadani was of the view that participation in trade fairs and exhibitions on a reciprocal basis and exchange of trade delegations would play an effective role in promoting trade cooperation between the two countries.

Also speaking on the occasion, ICCI President Sardar Yasir Ilyas Khan emphasised the need for enhancing bilateral trade as the existing volume of just over half a billion dollars was negligible given the existing economic potential of both countries.

He suggested that Pakistan and Jordan should sign a free trade agreement to remove trade barriers and boost trade volume. He added that Pakistan was making good progress towards industrialisation while trade bodies were also lobbying for further policy changes to promote major sectors of the economy including tourism, industry and services. Therefore, he said, it was right time for Jordanian entrepreneurs to explore Pakistan for business and investment.

Also present on the occasion, ICCI Founder Group Chairman Mian Akram Farid said that the China-Pakistan Economic Corridor (CPEC) had started a new phase of industrialisation in Pakistan and the business community of Jordan should take benefit of CPEC projects.

He said that Jordan should plan a trade mission for Pakistan and ICCI would provide all possible support to make its visit successful.

Other ICCI officials highlighted the need for more facilitation and support from their respective governments to take bilateral trade and economic relations to higher levels.

Published in The Express Tribune, February 12^th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.