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Oman-Jordan trade jumps 25% in 2023

21 May 2024 By OUR CORRESPONDENT

Muscat – According to the statistics released by the National Center for Statistics and Information (NCSI), the bilateral trade exchange between Oman and Jordan saw a 25% growth in 2023, reaching RO74.51mn compared to RO59.75mn in 2022.

The NCSI data showed that Omani exports to Jordan in 2023 rose by 28.2%, exceeding RO43.85mn, compared to RO34.21mn in 2022. Meanwhile, Oman’s imports from Jordan in 2023 amounted to RO27.51mn, showing a 41.5% growth from RO19.44mn in 2022.

As of the end of last year, preliminary statistics indicate that direct investments from Jordan in Oman reached approximately RO241.8mn. Additionally, 988 companies with Jordanian shareholding were registered in Oman by the end of 2023, compared to 758 companies in 2022, with a total invested capital of more than RO78.77mn.

In February, both countries signed several memorandums of understanding (MoUs) in areas such as attracting direct investment, developing and boosting cooperation between their chambers of commerce, and supporting foreign trade. A MoU between the Omani and Jordanian private sectors in the field of supply and trade was also signed.

In a statement to Oman News Agency, Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI), said that economic, trade, and investment relations between Oman and Jordan have witnessed significant development and growth in recent times, thanks to continued interest and support from the leadership of both countries.

Over the past few years, the two sides have held numerous joint economic and investment meetings and forums, gathering officials and stakeholders from public and private sectors to discuss expanding trade cooperation and investment partnerships, activating bilateral agreements, and capitalising on available economic opportunities.

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