AMMAN — His Majesty King Abdullah and
Algeria President
Abdelmadjid Tebboune have reached a new phase in bilateral
cooperation, which will help boost trade and investment, following King
Abdullah’s recent visit to Algiers, the Jordan News Agency, Petra, reported.
اضافة اعلان
King Abdullah and Tebboune instructed their
governments to take the necessary steps to encourage investors and business
owners to explore the investment and commercial opportunities in the two
countries, and to forge ahead with related agreements, underscoring the need to
expend collaboration in the healthcare, energy, medical tourism, hotels,
transportation, aviation training, higher education sector, and of cultural exchange
between universities.
Economists have praised the outcome of His Majesty’s
visit to
Algeria, which will reflect on the future of economic relations, and
help boost trade and investment.
They also stressed the need for direct
Jordan-Algeria flights and to facilitate visa issuance to give stakeholders
access to the two countries.
Jordanian investments in Algeria have gradually
increased over the past two decades, according to Senator Mazen Darwazah, who
said that the pharmaceutical industry’s expenditures, for example, have almost
reached $1 billion and the industry employs more than 4,000 workers.
The Jordanian-Algerian Business Council Coordinator
Khaled Soub called for a maritime trade route to boost trade so it can “meet
the aspirations” of the two sides. He said the Algerian investment law grants
privileges to foreign investors; it would enable Jordanian investors to expand
their projects and acquire shares from foreign partners.
Jordanian Businessmen Association (JBA) President
Hamdi Tabbaa said on Monday that King Abdullah’s visit to Algeria will open
“new horizons” for investment, trade, and economic cooperation between the two
countries.
He said in a press statement that King Abdullah is
keenly interested in promoting Jordan as a regional hub for business and
investment during his visits to various world countries, and stressed that that
Jordanian-Algerian relations are “solid and distinguished”.
Tabbaa pointed to the diverse investment
opportunities within promising sectors of common interest, highlighting
existing joint investments in the pharmaceutical industry, a key Jordanian
export to Algeria, and saying that the Jordanian business community looks
forward to positive outcomes from the visit.
The JBA, in cooperation with the National
Confederation of Algerian Employers, held the Jordanian-Algerian Investment
Forum in August, which tackled prospects for cementing economic ties, launching
joint ventures, and helping business communities of both countries network, he
said.
Meanwhile, energy expert Hashem Akel said that the
volume of Jordanian-Algerian trade exchange is “very small” and that concerned
authorities are slow to promote Jordanian industries.
Algeria is a country rich in petrol and natural
sources, he said, expressing hopes that energy imports from Algeria would
further increase after the North African nation grants Jordan preferential
prices.
Trade exchange between the two countries amounted to JD140
million from the start of 2022 until the end of last September, with Jordanian
exports of medicines, fertilizers, and pesticides accounting for JD53 million.
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