AMMAN —
Amman Chamber of Commerce (ACC) Chairman Khalil Haj Tawfiq encouraged focusing
on pan-Arab economic cooperation and integration at the 17th Turkish-Arab
Economic Cooperation Summit, which concluded Friday in Istanbul.
اضافة اعلان
According to the Jordan News Agency, Petra,
Haj Tawfiq asserted that the pan-Arab economic effort should be led by the private
sector and supported by Arab governments to facilitate its work.
The private sector, according to Haj Tawfiq,
currently suffers “from lack of coordination”. He added that it also works
without a strategy or guide, “despite the availability of many commonalities
and investment opportunities in various countries, which are still unseized.”
Challenging circumstances, especially food security,
which relates to prices and people’s ability to purchase goods, make the Arab
private sector “professionally and morally obligated” to achieve pan-Arab
economic integration, he said.
To push cooperation, Haj Tawfiq called for arranging
a meeting in the Kingdom for Arab private sector actors to integrate and unite
efforts. Each country, he said, should identify investment opportunities and
benefits within clear plans to be adopted by all states to reach pan-Arab
economic cooperation.
The ACC is “fully prepared” to host this proposed
meeting as soon as possible, he said.
A private body — a joint economic council or an Arab
union to facilitate the Arab private sector’s efforts — must be established,
especially in light of global economic difficulties, climate change challenges,
rise in energy and commodity prices, and supply chain imbalances, said Haj
Tawfiq.
An Arab data
bank, which would provide investment databases, maps, and project costs for
each Arab country, should also be established, he added.
Locally, he said, Jordan’s
Economic Modernization Vision is a road map for the next 10 years. He also highlighted the
government’s effort to complete a new investment law to improve the Kingdom’s
business climate.
He also stressed the need to revive the
Turkish-Jordanian free trade agreement suspended in 2018, as Jordan’s 2017
imports from Turkey amounted to $683 million, and $140 million in exports,
while last year’s imports rose to $691 million and $98 million in exports.
Haj Tawfiq called on Jordanian traders and investors
to participate in international, regional, and Arab forums and exhibitions to
get acquainted with participating countries’ products, take advantage of
opportunities to establish trade partnerships, and network with companies.
He also stated that investment in
Palestine is “a national
and religious duty” that supports the Palestinian people’s steadfastness,
especially in light of Israel’s continuous attempts to control the Palestinian
economy.
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