Jordan, Pakistan sign economic memoranda of understanding

AMMAN — Jordan and Pakistan signed on Wednesday four memoranda of understanding in the fields of investment, commerce, maritime, and standards and metrology during the joint ministerial committee meetings. 

Industry, Trade and Supply Minister Maha Ali and Pakistani Commerce Minister Khurram Dastgir Khan signed the memoranda. 

Ali described the meetings as an opportunity to open new channels of cooperation indicating that the signing of the memoranda would consolidate relations between the two countries.

The minister noted that the volume of trade was below expectations and below potential as it does not exceed $100 million annually.  

Khan said Pakistan is interested in improving economic cooperation with the Kingdom, especially exchanging expertise in order to encourage the private sector to set up joint projects.

Both sides were in agreement over the need to exchange expertise regarding the development of small and medium-size enterprises  

The two sides agreed to organise more visits by economic and commercial  delegations and to hold business events and seminars. 

Jordan urged Pakistan to import more Jordanian potash and phosphate.

According to Jordan Chamber of Commerce President Nael Kabariti,  a Jordanian delegation will visit Pakistan next month in order to hold the Jordanian-Pakistani joint business council meeting and put the council's memorandum of understanding into force.

Kabariti called for signing the Jordanian-Pakistani free trade agreement. The two sides highlighted the importance of having specialised exhibitions to showcase their products, like stone and marble, clothes, animal skins, food products, olive and olive oil, medicine, and other products. 

Ali said she will take care of any problems or obstacles facing the trade between the two countries.