Yerevan-held business forum explores expanding Jordan-Armenia trade

AMMAN — During His Majesty King Abdullah's visit to Armenia, the capital Yerevan on Tuesday hosted a Jordanian business forum chaired by Minister of Industry, Trade and Supply Tareq Hammouri and Armenian Minister of Economy Tigran Khachatryan. 

Participants in the forum noted that the Royal visit opens new horizons for economic cooperation between the two countries, and encourages the private sector and businesspeople to take advantage of opportunities, especially as the Kingdom is a gateway to the markets of the region.

During the opening of the forum, Hammouri stressed the importance of developing new channels for cooperation and strengthening relations, pointing out that business forums are an integral part of economic relations, the Jordan News Agency, Petra, reported.

He highlighted the importance of benefitting from His Majesty’s visit and its outcomes, which will result in strengthening economic cooperation between the two countries.

The Jordanian-Armenian trade volume “falls below expectations and aspirations”, the minister said, adding that it is the responsibility of the two nations to join hands in promoting bilateral trade, investment and tourism.

Jordanian exports to Armenia from January to November 2019 amounted to $57,300, marking a decrease of 40 per cent, while imports totalled $27,600.

Hammouri stressed that the government, under His Majesty’s directives, has installed an open economic policy that includes the integration of the Jordanian economy into the global market through continuous economic reforms and trade liberalisation.

As a result of these economic policies, he added, an average annual GDP growth rate of 5 per cent has been achieved in the past decade.

The Armenian Minister of Economy noted that His Majesty's visit to Armenia is receiving "great attention" on the official, popular and private-sector levels, as it affirms the common keenness to increase cooperation frameworks in all fields, especially economic ones.

He added that his country is eager to develop economic cooperation with Jordan and build on the forthcoming results of the King's visit, which will create opportunities for the two countries — especially for the private sectors and businesspeople — to raise the level of economic cooperation.