Jordanian-Turkish Business Council highlights need to bolster trade, investment ties

Zawya

6 days ago

AMMAN — President of the Jordanian Businessmen Association (JBA) Hamdi Tabbaa on Tuesday underscored the importance of enhancing economic and investment ties between Jordan and Turkey.
Tabbaa made his remarks during the Jordanian-Turkish Business Council meeting that was organised in cooperation with the Foreign Economic Relations Board of Turkey (DEIK), the Jordan News Agency, Petra, reported.
He stressed the need to expand trade cooperation and activate the role of the council in supporting the private sector and promoting mutual investments.
The JBA president noted that trade exchange between the two countries in 2024 reached about $1 billion, with Jordanian imports from Turkey totalling about $815 million.
Exports to Turkey stood at $106 million, 12 per cent of the total trade volume, he noted, calling for redressing this imbalance by enhancing Jordanian exports to the Turkish market.
Tabbaa urged Turkish business leaders to explore investment opportunities in Jordan and intensify coordination and engagement between the two countries' private sectors.
He highlighted Jordan's ongoing implementation of major projects under the Economic Modernisation Vision (EMV), offering opportunities in key sectors such as ICT, logistics, tourism, industry, agriculture, healthcare, energy and mining, in addition to public-private partnership ventures.
Levent Birant, the Turkish head of the council, emphasised the 'strong' economic and trade ties between Jordan and Turkey and reaffirmed the council's commitment to sustaining "activation" of the joint free trade agreement.
He called for building on existing cooperation to boost business relations between Amman and Ankara.
Yusri Tahboub, the Jordanian head of the council, highlighted efforts to reactivate the FTA with Turkey to align with Jordan's economic openness goals.
Tahboub said that the council is focused on enhancing investment incentives and fostering the exchange of opportunities in priority sectors, especially industry, medical tourism, energy and mining.
President of the Turkish-Jordanian Businessmen Association Salim Dada said that the association was established two years ago to boost economic ties and strategic cooperation between the business communities of both countries.
He emphasised Jordan's position as a "promising" investment hub in the region due to its strategic location, political stability, skilled workforce and opportunities in renewable energy, tourism, ICT, pharmaceuticals, manufacturing and logistics.
He added that Jordan's competitive advantages and favourable business environment bolstered by free trade agreements with the US, the European Union, Canada and several Arab and Asian countries make it a "gateway" to markets in Iraq and the Gulf.
Dada also highlighted Jordan's "investor-friendly" legal framework, which ensures "equal" treatment for local and foreign investors and promotes innovation and entrepreneurship.
For his part, Turkish Ambassador to Jordan Yakup Caymazoglu announced that meetings of the Jordanian-Turkish Joint Economic Committee will convene in Amman this October, opening further avenues for cooperation and addressing challenges facing businesspeople.
Caymazoglu noted that both countries and the region face "shared" challenges due to rising costs stemming from developments in the Gaza Strip and the West Bank, as well as internal issues in Syria and Iraq.
He stressed that these circumstances also present new opportunities for cooperation, particularly given the political alignment between Jordan and Turkey.
Caymazoglu pointed to recent "positive" developments, including the lifting of the US and European sanctions on Syria, which could pave the way for joint Jordanian-Turkish ventures targeting Syrian and regional markets.
He expressed optimism about forming a "strong" economic partnership, citing Jordan's industrial capacity, strategic investment zones, and customs advantages that support export access to markets in the US and Canada.
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