JBA, Malaysia talk ways to enhance economic relations

By JT - Oct 12,2022 - Last updated at Oct 12,2022

AMMAN — President of the Jordanian Businessmen Association (JBA) Hamdi Tabbaa, and Chargé d'Affairs at Malaysian Embassy in Amman, Wan Faizatul Afzan Ismayatim, on Wednesday agreed to develop an action plan for the next year to build strategic partnerships in investment.

During the meeting, held at JBA's headquarters, the two sides discussed mechanisms for developing the two countries' economic relations, stressing the necessity of holding meetings to identifying priority economic sectors and key investment opportunities, as well as increasing networking between the two countries' businesspeople, the Jordan News Agency, Petra, reported.

According to a JBA statement, Tabbaa pointed to the importance of strengthening economic relations between the two countries, towards "broader" horizons of investment partnerships in various fields of common interest.

Jordan and Malaysia share "strong, historic" relations that are constantly developing, he noted.

He also drew attention to Jordan's economic sectors open to Malaysian investment which would benefit from investor incentives, especially in the pharmaceutical and food industries, information technology and food security.

Tabbaa said JBA has been viewed as Jordan's investment arm since its establishment due to its joint business councils and many memoranda of cooperation with Arab and foreign business institutions.

In addition, he called on the Malaysian private sector to get acquainted with Jordan's investment opportunities in various sectors.

Ismayatim stressed the importance of strengthening and developing joint cooperation with many investment opportunities available to both sides, and various points of entry in the two countries' markets, noting that the Malaysian market is "diverse, wide and prosperous”.

The two countries' trade volume in the past year amounted to about $283 million, of which $59 million were exports to Jordan, concentrated in the chemical and mineral industries and plant products, the statement said.

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