New Jordanian embassy in Cyprus sign of ‘long-standing’ ties

AMMAN — The recent opening of a Jordanian embassy in Cyprus’ capital Nicosia offers new opportunities to enhance partnerships between the Jordanian and Cypriot business communities and to exploit untapped opportunities, stakeholders agreed on Monday.

Speaking at the first Jordan-Cyprus Business Forum, representatives of the business community from the two countries expressed their keenness to increase trade and investment relations, in line with the long-running friendship between the leaders and the peoples of Jordan and Cyprus.

They agreed that the current volume of trade has not reached its full potential.

Speaking at the opening of the forum, Senator Nael Kabariti, chairman of the Jordan Chamber of Commerce (JCC), highlighted Jordan’s competitiveness in the region, particularly in the fields of tourism, information and communication technology, health, education, energy, renewable energy and transportation.

He noted that the two sides must build on the forum, organised by the JCC, and carry on with partnerships. 

Nafsika Krousti, ambassador of the Republic of Cyprus in Amman, said Cyprus is one of the fastest growing economies in Europe, citing possibilities to enhance cooperation between Cyprus and Jordan in a number of areas, including products, services and shipping logistics. 

She expressed her country’s desire to upgrade bilateral trade relations with Jordan as much as possible, to parallel the “exemplarily and long-standing” diplomatic relations between them.

“Both Jordan and Cyprus are pillars of moderation, peace and stability,” she said, noting that bilateral cooperation, as well as trilateral cooperation including Greece, is also significant in promoting regional stability.

She added that her country is “fully committed” to supporting Jordan through its EU membership, adding that her country appreciates Jordan’s efforts in overcoming many challenges.

George Leptos, vice chairman of the Cyprus Chamber of Commerce and Industry, said Jordan’s newly established embassy in Nicosia will help further promote friendship and business between the two countries. 

Leptos added that Cyprus is of added value for Jordanian investors, due to its geographic location, EU membership and stability, adding that his country is an “ideal gateway” for Jordanian products and services to enter the European market.

Jordan Investment Commission President Thabet Al Wir cited medical tourism as a sector of “particular excellence”, with the Kingdom ranking first in the field regionally and 5th internationally.

Wir also highlighted promising investment opportunities in the ICT and pharmaceutical sectors, noting that the reconstruction of Iraq and Syria — once a political solution is in place — are another major investment opportunity. 

For his part, George Pantelides, president of the Cyprus-Jordan Business Association, said the two countries can further enhance their business cooperation after the recent decision to abolish the need for certain visas.

He noted that the two countries are currently working on issuing tax exemptions to further encourage trade, citing the association as a platform to boost bilateral cooperation.   

Christakis Giovannis, a member of the Cypriot House of Representatives, said parliamentary diplomacy helps boost partnerships in all fields, including trade and investment.

The chambers of commerce of the two countries on Monday signed the Joint Business Council Agreement, in a bid to boost cooperation.  

In 2016, Jordan’s imports from Cyprus reached $13.67 million (JD9.7 million), while exports to Cyprus stood at $600,000 (some JD426,000), according to figures from the Department of Statistics.

Major Jordanian exports include cigarettes, marble, calcium carbonate, beauty and skin products, insecticides and herbicides, pipes and clothes.

Meanwhile, major imports from Cyprus include food products, seeds, juices, medicines, skin care products and printing paper.