Jordan, China discuss opportunities for further cooperation

AMMAN — Minister of Planning and International Cooperation Imad Fakhoury has held a series of meetings with senior Chinese officials to follow up on areas of existing cooperation and discuss ways of cementing ties, including prospective development aid for 2015.

The discussions were held during a visit the minister paid to Beijing to sign an agreement founding the Asian Infrastructure Investment Bank, with Jordan as a founding member.

The projected Beijing-based bank will have a share capital of $100 billion, with 75 per cent of the shares owned by Asian countries.

At a meeting with Chinese Deputy Minister of Commerce Qian Keming, Fakhoury commended the distinguished level of Sino-Jordanian relations, and said the Kingdom looks forward to further strengthening ties, according to a statement from the Ministry of Planning and International Cooperation. 

He thanked the government and people of China for supporting Jordan over the past years, enabling it to carry out development projects in the key sectors of water, infrastructure and health.

Fakhoury also lauded Beijing’s positive attitude towards financing a number of projects through available grants due to be signed this year, including the second phase of the Central Monitoring System, the second phase of the Ruseifa Water Network Project and the Salt-Ardha Road Expansion and Rehabilitation project.

China is one of Jordan’s strategic partners and third trading partner. 

Fakhoury briefed the Chinese deputy minister on investment opportunities in the Kingdom and the repercussions of the Syrian crisis.

He cited the launch of the Jordan Response Plan 2015, stressing the dire need to finance it by the international community to enable the government to continue hosting Syrian refugees and offer services to them as well as to host communities. 

The two officials exchanged views about devising a framework for development, economic and technical cooperation between the governments of Jordan and China for the next three years.

The Chinese official praised Jordan’s key role in the region and the strategic partnership between the two countries, stressing that Beijing attaches great importance to maintaining the Kingdom’s security and stability.

Fakhoury also met Yi Huiman, president of the Industrial and Commercial Bank of China, the world’s largest bank, and Export-Import Bank of China Vice President Yuan Xingyong, and briefed them on economic developments in Jordan and the government’s measures to stimulate the economy.

The minister also outlined the investment climate in the Kingdom, referring to key economic legislation that had been accomplished, foremost of which are the new investment and public-private partnership laws, calling on Chinese companies to enter into tenders for priority infrastructure projects in transport and renewable energy. 

He said Jordan is looking for broader benefit from the Chinese bank’s operations to finance infrastructure ventures in a public-private partnership or by the private sector, which will have a “huge impact” on attracting foreign capital and creating jobs.

The Chinese officials expressed their satisfaction that Jordan will be a guest of honour at the 2015 China-Arab States Expo due to take place in Yinchuan in September.