JBA calls for developing Jordanian-Turkish economic ties

Amman: President of Jordan Businessmen Association (JBA), Hamdi Tabba'a, called for developing and strengthening Jordanian-Turkish economic cooperation and focusing on "promising" sectors of common interest between the two countries' business communities. During a JBA-hosted meeting Thursday for the Joint Jordanian-Turkish Business Council, which was established 30 years ago, Tabba'a stressed the necessity of informing the Turkish side of the Kingdom's investment opportunities in various sectors and benefiting from priviliges provided by the new Investment Environment Law. Tabba'a, who chairs the council on the Jordanian side, said this body contributed to build communication bridges between the two countries' business communities, stressing the need to intensify its activities during 2024 and outline an economic agenda accordingly. Tabba'a noted bilateral economic relations witnessed "remarkable" development over the past two decades, as there are 542 companies financed with Jordanian capital investing in Trkiye in multiple sectors and contribute directly to Turkish economy. Meanwhile, he announced Turkish investments in the Kingdom reached $283 million, concentrated in the services, information technology, food industries and infrastructure sectors, expressing hope to increase their volume to meet ambitions. Locally, Tabba'a said the Kingdom has "value-added" investment opportunities, especially in the sectors of information technology, communications, logistics services, tourism, industry, agriculture and health, which deserve attention from Turkish investors. For his part, the council's chairman of Turkish side, Levent Berant, stressed keenness of the Turkish business community to strengthen their trade and investment cooperation with Jordan, and increase the two countries' trade exchanges to $1 billion in the coming period. A joint meeting will be organized in Istanbul to discuss mechanisms for developing the two countries' economic relations and removing obstacles that impede increase in trade exchang e to help establish investment partnerships, he pointed out. Berant called on the Jordanian business community to enhance communication with their Turkish counterparts, stressing joint work to activate the council's role to serve the bilateral economic interests. The Kingdom's exports to Trkiye during the past year 2023 amounted to approximately $120 million, compared to $788 million in imports. Source: Jordan News Agency