Shamali, Algerian trade minister call for strengthening economic cooperation

AMMAN — Industry, Trade and Supply Minister Yousef Shamali on Sunday highlighted the importance of joint action between Jordan and Algeria to enhance economic cooperation in various fields and maximise benefits from the available opportunities.

During a meeting in Algiers with Algerian Minister of Trade and Export Promotion Kamal Rezik, Shamali stressed that the there is an opportunity to increase commercial exchange and hold joint ventures in both countries, the Jordan News Agency, Petra, reported. 

Shamali, who began a visit to Algeria Saturday evening to discuss areas of economic cooperation and prepare for the upcoming joint committee meetings, expressed Jordan's keenness to develop economic cooperation with Algeria in various fields.

He highlighted the importance of such cooperation at this stage that requires intensifying efforts to counter the current challenges and the repercussions of the COVID-19 pandemic and regional and international developments.

During the meeting, Shamali also reviewed the volume of trade exchange during 2020, which amounted to $213 million, compared to $197 million in 2021, marking a decrease of nearly 8 per cent, while the volume of trade exchange during the first quarter of 2022 amounted to some $72 million, compared with $32 million for the same period in 2021.

Rezik highlighted the importance of the visit to discuss means to boost economic cooperation between the countries and increase the trade exchange figures, in addition to encouraging businesspeople and investors from both countries to benefit from opportunities and turn them into advanced projects.

Chairman of Jordan Chamber of Industry Fathi Jaghbir said that the Kingdom's private sector is "eagerly interested" in developing economic cooperation with Algeria in various fields through stimulating commercial exchange and holding investments. 

Jaghbir also stressed that Jordan is a “regional and international gateway” for economic exchange with the world, thanks to the free trade agreements that the Kingdom had signed with major economic blocs.