Jordan, Philippines explore enhanced economic, investment cooperation

The Jordan Businessmen Association Chairperson, Hamdi Tabbaa, met with the Philippine Ambassador to Jordan, Santos Wilfredo, to discuss the two countries' economic, investment, and trade relations. In a statement released Tuesday, Tabbaa underscored the importance of exploring promising investment opportunities in both nations. He emphasized that Jordan offers a secure and attractive environment for investors, with significant development projects underway at both local and regional levels, presenting ample opportunities for Filipino investors. Tabbaa expressed the association's interest in expanding investments with the Philippines and attracting Filipino investors to Jordan. He highlighted plans to establish a Jordanian-Filipino Business Council to strengthen cooperation between the business communities of both nations. The association has already established 36 Arab and international business councils. Tabbaa also pointed out that Jordan's commercial and investment climate benefits from free trade agree ments with numerous Arab and international countries. These agreements have increased trade volumes and removed barriers to trade and investment. However, Tabbaa noted that the current trade volume between Jordan and the Philippines, which stood at approximately $13.6 million in 2023, is insufficient and does not reflect the strong ties between the two nations. Jordan's exports to the Philippines amounted to $8.1 million, while imports from the Philippines totaled $5.5 million. Wilfredo highlighted the depth of economic and diplomatic relations between Jordan and the Philippines, which have spanned 48 years. He acknowledged that the current trade volume falls short of expectations and expressed the embassy's commitment to enhancing trade and exploring untapped export opportunities. The ambassador also stressed the importance of addressing trade barriers that limit Jordanian exports to the Philippines and further consolidating economic relations. Wilfredo suggested the development of an intensive program of meetings and visits between the private sectors of both countries. He also noted Jordan's safe and stable environment, which is attractive to investors, particularly in tourism, agriculture, and artificial intelligence. During the meeting, the ambassador presented investment opportunities in the Philippines and expressed hope for the establishment of major development projects on regional and global scales. Source: Jordan News Agency