7 days ago
Jordan: Investment minister, Uzbeki counterpart discuss boosting trade, investment
AMMAN — Minister of Investment Tareq Abu Ghazaleh on Monday met with a ministerial delegation from Uzbekistan, headed by Minister of Investment, Industry and Trade Laziz Kudratov, to discuss boosting bilateral ties and expanding economic and investment cooperation.
Abu Ghazaleh expressed Jordan's pride in its relations with Uzbekistan, highlighting the significant potential for cooperation in key sectors, including IT, tourism, healthcare, pharmaceuticals, mining, textiles and public-private partnership (PPP) projects, according to a statement to JT.
He noted that trade exchange between the two countries reached $6.9 million in 2024, with Jordan's exports comprising pharmaceuticals, machinery and chemical products, while imports from Uzbekistan included copper, fruits, nuts and cocoa products. He also stressed both sides' aspiration to increase the volume of trade in the coming years.
The two countries signed an economic and trade cooperation agreement in 1996, adding that negotiations on a bilateral investment promotion and protection agreement are in their final stages.
Abu Ghazaleh also outlined Jordan's Economic Modernisation Vision, which seeks to attract over JD 41 billion in investments, supported by recent legislation, foremost among them the 2022 Investment Environment Law. The law guarantees equal treatment for investors, safeguards their rights and provides incentives for projects with high employment, export and innovation potential, the statement added.
He also underscored Jordan's economic resilience amid regional and international challenges, attributing it to structural reforms, including the creation of the Ministry of Investment as a central access point for investors.
The minister invited Uzbek companies to benefit from Jordan's strategic location, extensive network of free trade agreements and ready investment opportunities in PPP projects spanning water desalination, transportation, education and the digital economy. He also highlighted Jordan's role as a logistical and industrial hub for regional reconstruction, calling for a partnership that delivers sustainable benefits to both nations.
For his part, Kudratov expressed Uzbekistan's appreciation for its partnership with Jordan, noting that the delegation's visit aims to explore and advance trade and investment opportunities in sectors such as agriculture, chemicals, pharmaceuticals, textiles and other promising fields.
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