Murad seeks better Jordanian-Austrian business relations

AMMAN — Joint agreements signed by the governments of  Austria and Jordan and by the chambers of commerce in both countries,  should be utilised by businessmen to increase the bilateral trade volume, Amman Chamber of Commerce (ACC) President Issa Murad said Monday.

Receiving an Austrian commercial delegation visiting the Kingdom to discuss ways to enhance commercial exchange, Murad said the trade balance between both countries does not suit the brotherly bilateral relations.

Bilateral meetings between companies and businesspeople from both countries were also held to explore and implement investment opportunities, according to an ACC statement.

Murad said this visit reciprocates one the ACC organised to Austria in May, with the participation of representatives of commercial and logistic sectors such as tourism, communications and energy.

He added that holding bilateral meetings would lead to achieving positive results in developing economic relations, investment growth and commercial exchange.

The commercial exchange between the two countries is “very low”, said Murad, noting that Jordanian exports to the European country in 2014 reached a total of $1.2 million, compared to Jordanian imports worth $81.5 million.

He indicated that only four Austrians have partnerships with Jordanian peers in companies registered with a total capital of JD15.7 million,  making it important to develop the level of ties and translating them into joint projects, Murad added, noting that the Jordanian economy has many investment opportunities in vital sectors.

The ACC president also called for activating means to develop bilateral relations, such as enhancing the exchange of delegations and specialised commercial visits by businesspeople, merchants and industrialists, in addition to drawing up proper mechanism for exchanging information and commercial opportunities.  

Over the past years, the governments of both countries have signed several agreements aimed at stimulating bilateral relations and enhancing joint interests, Murad remarked.

He referred to an agreement on encouraging and protecting investment, another on industrial and technical cooperation, and an air transportation agreement, in addition to having other agreements between both countries’ chambers of commerce and industry, he said.

Murad also invited Austrian businesspeople, merchants, importers and exporters to get acquainted with the Jordanian investment-attracting environment and to benefit from incentives the Kingdom offers to foreign investors.

In this regard, he said that the investment environment in Jordan is supported by security, stability and several modern laws that encourage local and external investments, especially in qualified industrial estates whose products can penetrate the US market without customs fees or quotas.

Jordan is also a signatory member of free trade agreements that offer markets with a total number of 1 billion consumers, such as the European Free Trade Association, the Grand Arab Free Trade Agreement and free trade agreements with the US, the European Union, Singapore, Canada and Turkey, Murad indicated.

He praised the intensified efforts and the important economic roles of both countries’ embassies and chambers of commerce in enhancing bilateral commercial ties, according to the statement.

The president also expressed ACC’s readiness to cooperate and coordinate with Austrian institutions, investors and individuals who have intentions to visit Jordan by providing them with all forms of support and information that may contribute to enhancing the commercial exchange.