JBA, Swedish ambassador discuss increasing trade volume

AMMAN — Representatives of the Jordanian Businessmen Association (JBA) on Saturday met with Swedish Ambassador to Jordan Alexandra Rydmark to discuss bolstering trade and investment between the two countries, the Jordan News Agency, Petra, reported.

JBA President Hamdi Tabbaa highlighted the association’s efforts to promote Jordan’s available investment opportunities.

Tabbaa also referenced the establishment of the Jordanian-Swedish Business Council on the sidelines of King Carl XVI Gustaf of Sweden’s visit to Jordan in November, 2022.

The JBA president also noted the importance of following up the results of the Royal visit in order to enhance the volume of trade between the two sides, which remains “modest”.

In turn, Rydmark referenced arrangements for exchange visits between the two sides in 2023, which will feature representatives of pharmaceutical, medical, communications and information technology industries.

The ambassador also described the volume of trade between the two nations as “modest”, as Jordan does not import directly from Sweden, but rather through other countries in the region. Swedish businesspeople possess limited information on Jordan, the ambassador noted, adding that this calls for increased networking between the two sides.

The Swedish delegation pointed out that there have been significant increases in Jordanian companies importing from Sweden, constituting a positive indicator.

JBA board member Michel Nazzal said that the association is linked to approximately 28 joint Jordanian business councils, and expressed the association’s aspiration to organise a joint visit to Sweden through the Jordanian-Swedish Business Council.

JBA board member Abdul Halim Abdin stressed the need to focus on small- and medium-sized enterprises due to their economic importance, pointing out that Jordan has the potential to become a regional centre of trade, providing access to one billion consumers.

During 2021, the volume of trade exchange between the two countries amounted to approximately $82.3 million. Exports amounted to $6.3 million of this figure, compared with imports, which reached a value of $76 million.