Jordanian-Algerian forum calls for boosting investment, trade ties

AMMAN — The Jordanian Businessmen Association (JBA) and the National Confederation of the Algerian Employers (CNPA) on Saturday signed a memorandum of understanding to enhance cooperation between the two business communities and boost investment in two countries.

The signing ceremony was held on the sidelines of a joint Jordanian-Algerian investment forum in Amman organised by the JBA in cooperation with the CNPA, the Jordan News Agency, Petra, reported, citing a JBA statement.

The statement called for preparing action plans to help overcome obstacles facing trade movement between the two countries, in addition to intensifying meetings, exchanging visits and activating bilateral agreements, primarily the free trade agreement that was signed in 1997.

The statement noted that the Kingdom's exports to Algeria amounted to $94 million in 2020, compared with $125 million of imports from Algeria. 

JBA Secretary Senator Abdulrahim Biqai said that Jordan enjoys characteristics which enable it to become a regional hub for business, and a gateway to regional markets, referring to its agreements with various global economic blocs.

Secretary General of the Investment Ministry Zaher Qatarneh called on the Jordanian and Algerian private sectors to exchange views and ideas in a way that contributes to enhancing economic and commercial ties, expressing the ministry's keenness to provide all facilities to Algerian investments in Jordan. 

CNPA representative Mohammed Tafart highlighted the importance of holding strong partnerships between the two countries and building economic blocs to support and increase investment activities between the JBA and CNPA.

Jordanian Ambassador to Algeria Shaker Omoush said that the forum constitutes “strong leverage” in the medical tourism industry, calling on the Algerian side to benefit from the Kingdom's expertise in the field.

Algerian Acting Chargé d'affaires in Jordan Asma Labiad said that the commercial exchange volume between the two countries in the first quarter of 2022 reached $72 million, up from $32 million in the same period of 2021.