Private sector in Oman to strengthen trade partnership with Jordan

Muscat – Omani and Jordanian officials and businessmen have stated that the visit of King Abdullah II Ibn al Hussein of Jordan on Tuesday will increase cooperation in various fields, especially the private sector, in the two brotherly countries.

H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, said that the visit of King Abdullah II will boost trade and investment exchange and cooperation in various fields between the two countries.

“The Omani-Jordanian Joint Committee has ongoing discussions on mechanisms to enhance economic, commercial and investment cooperation in various fields,” H E Yousef said in an interview to ONA. Oman and Jordan offer investment opportunities and incentives to enhance trade exchange in various fields.

According to H E Yousef, the volume of trade exchange increased 33.8 per cent to RO61.855mn in 2021, compared to RO46.26mn in 2020.

He informed that there are 621 Jordanian companies in the sultanate, most of which are engaged in trade, services, industry and construction.

Redha Juma al Saleh, Chairman of the Board of Directors of Oman Chamber of Commerce and Industry, said, “The visit of King Abdullah II will enhance the establishment of joint projects and build relations between businessmen in the two brotherly countries.

“There are many proposed areas of cooperation, such as joint exhibitions, establishing joint tourism projects, especially medical tourism, holding promotional seminars on the investment environment and opportunities, and signing more economic agreements that would support investment cooperation between the two countries.”

Yanal al Barmawi, a spokesperson for the Jordanian Ministry of Industry, Trade and Supply, informed that his country is looking forward to strengthening economic cooperation with the sultanate in various fields in a way that serves common interests and maximises benefits from the opportunities available in both countries.

The value of Jordan’s exports to Oman until July amounted to about US$30mn, while its total imports from the sultanate amounted to about US$39mn.

Barmawi stressed the importance of strengthening trade relations between the private sectors of the two countries in order to develop economic cooperation, increase the volume of trade and establish investments.

Nael al Kabariti, Chairman of Jordan Chamber of Commerce, informed that the chambers of commerce of the two countries organise visits to identify investment opportunities and take advantage of the facilities offered to investors to stimulate investment in a safe environment.

“We are also looking to intensify efforts by the private sector in both countries to raise the volume of trade exchange,” Kabariti said.

Haitham al Rajbeh, a Jordanian businessman, described the Omani market as “attractive” and “stimulating” for foreign investment. “Investing in Oman is attractive because of factors such as strategic location, political and economic stability, good infrastructure and logistics, customs exemptions, international agreements and freedom of capital.”