Amman - The Jordan Europe Business Association (JEBA) highlighted Jordan’s pivotal role as a strategic entry point for European access to promising markets in the region.
اضافة اعلان
According to JEBA’s Promotion Director and Board Member, Mohammad Al-Smadi, enhancing economic ties between Jordan and the European Union is vital for fostering trade and investment opportunities.
Al-Smadi emphasized that Jordan’s position as a stable and secure country amidst regional geopolitical challenges makes it an attractive destination for European investments. "Jordan is a reliable partner and offers vast potential for investments, particularly in strategic sectors such as renewable energy, technology, and trade," he said in remarks to the Jordan News Agency (Petra).
The European Union is Jordan’s second-largest trading partner, with bilateral trade reaching JD 3.2 billion in 2023. Key Jordanian exports to Europe include phosphate, fertilizers, and pharmaceuticals. However, Al-Smadi noted that several challenges, including high transportation costs and strict European standards, continue to hinder greater trade exchange.
He added that agreements such as the Jordan-European Partnership present untapped opportunities worth an estimated $777 million, calling for intensified efforts to maximize mutual benefits.
Jordan’s Economic Modernization Vision aims to bolster exports to European markets through enhanced product quality, training programs for small and medium enterprises (SMEs), and the promotion of the green economy. Al-Smadi emphasized the importance of developing logistical infrastructure to reduce trade costs and leveraging digital transformation to improve market access for Jordanian businesses.
"Jordan serves as a gateway to regional markets such as the Gulf, Iraq, and Syria, making it an ideal launchpad for European companies looking to expand," he said. Initiatives like the Jordanian railway project and the Clean Energy Corridor are expected to enhance connectivity between Jordan, regional markets, and Europe.
SMEs, which account for 95% of Jordan’s economy, stand to benefit significantly from the Economic Modernization Vision, according to Al-Samadi. These enterprises will gain access to affordable financing, specialized training, and partnership opportunities with European counterparts.
JEBA is actively working to strengthen private-sector collaboration between Jordan and Europe by organizing investment forums, conferences, and providing consultancy services to assist Jordanian companies in entering European markets.
JEBA has announced plans to host the inaugural Jordanian-European Forum under the theme "Digital and Green Jordan." The event aims to attract European investments in key sectors, including technology and renewable energy.
Al-Smadi concluded by urging European countries to capitalize on Jordan’s strategic position and increase investments in the Kingdom, emphasizing the shared benefits of closer economic collaboration.
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