Agreement signed to establish Jordanian-Romanian business council

AMMAN — The Jordanian Businessmen Association (JBA) and the Romanian-Jordanian Economic Cooperation Association (RJECA) on Monday night signed an agreement to establish a joint Jordanian-Romanian business council to open “new scopes of economic cooperation between the countries”.

The council, whose agreement was signed by JBA President Hamdi Tabbaa and RJECA President Radu Bogdan Bano, will contribute to more cooperation agreements among businesspeople in the two countries, the Jordan News Agency, Petra, reported. 

The council also aims to increase the volume of commercial exchange and to exchange investment information and commercial delegations.

The JBA, through the council, aims to encourage Romanian companies to open branches in Jordan and to benefit from various investment incentives.

Tabbaa described the establishment of the council as an important step in boosting bilateral relations to support the national economy, boost growth and provide jobs through attracting Romanian investments and benefiting from relations between the countries.

He pointed out that establishing the council comes from the association’s keenness to activate the role of business councils to enhance the Kingdom’s investment environment, attract Romanian investments, and to allow businesspeople of both countries to start communicating and partnering in various economic activities. 

Tabbaa also stressed that there are several “untapped opportunities” between the sides, where the council will focus its efforts in the targeted sectors, mainly in fertilisers, clothes, agriculture and pharmaceuticals. 

The commercial exchange volume between the countries in 2021 stood at $609 million, compared with $376 million in 2020.