Amman, January 19 (QNA) - Jordan is looking to build new and broad economic relations with Qatar, aiming to boost trade exchanges between the two countries and expand the base of joint investment projects.

Rich in economic opportunities, Jordan seeks to attract new Qatari investments and expand existing ones, particularly in the real estate, tourism, industry, energy, and financial sectors.

The two countries are linked by several bilateral agreements, including a twinning agreement between the Jordanian Court of Cassation and its Qatari counterpart, an agreement on mutual administrative assistance for the optimal application of customs law and the prevention, investigation, and combat of customs violations, and a memorandum of understanding for cooperation in the field of labor.

Additionally, the two countries have a cultural cooperation agreement, a revised agreement on cooperation in standardization activities between the Jordanian Standards and Metrology Organization and the Qatar General Organization for Standards and Metrology, as well as agreements to encourage and protect mutual investments, avoid double taxation, prevent tax evasion on income, the Greater Arab Free Trade Area (GAFTA) agreement, and a commercial and economic cooperation agreement.

Bilateral agreements have also been signed between the Jordan Chamber of Commerce and the Amman Chamber of Commerce with the Qatar Chamber of Commerce and Industry (QCCI), including a protocol to establish the Jordanian-Qatari Business Council and an agreement to create the Qatari-Jordanian Economic Events Council.

According to the Amman Chamber of Commerce, the value of Qatari investments on the Amman Stock Exchange (ASE) last year reached approximately JOD 756 million, ranking fourth among foreign investments in the exchange, with 385 shares and 184 million securities.

Qatar has committed to providing 10,000 job opportunities for Jordanians in Doha, along with a package of investments targeting infrastructure projects valued at USD 500 million.

The number of Qatari investors in Jordan registered with the Ministry of Industry, Trade, and Supply reached 80 partners, with a total capital of JOD 5.5 million, while the number of Qatari partners registered with the Amman Chamber of Commerce was 26, with capital of 2.6 million dinars.

The number of Qatari companies registered with the Amman Chamber of Commerce is two, with a capital of JOD 29 million, namely Qatar Airways Group and the Electromechanical Engineering Company.

According to statistics from the Jordanian Ministry of Higher Education and Scientific Research, the number of Qatari students studying at Jordanian universities is 2,530, across bachelor's, master's, and doctoral programs.

In 2024, the number of Qatari tourists visiting Jordan during the first nine months of the year reached 21,830, compared to 17,463 in the same period in 2023, marking an increase of 25 percent.

In his remarks to Qatar News Agency (QNA), Chairman of the Jordan Chamber of Commerce, Khalil Haj Tawfiq, stated that there is ongoing economic cooperation with Qatar, noting that the private sector is working to strengthen it. He confirmed that the coming period will witness strong collaboration between business owners in both countries, focusing on exchange visits and joint events to establish commercial partnerships that meet mutual aspirations.

Tawfiq called for creating economic integration between the two countries as a foundation for broader Arab economic integration, and for establishing sustainable business and investment partnerships between Jordanian and Qatari entrepreneurs. He emphasized that Qatari investments in Jordan play a significant role in supporting the national economy and creating job opportunities.

The Chairman of the Jordan Chamber of Commerce expressed hopes for a greater increase in trade exchanges between the two countries, particularly regarding Jordanian exports, as there are diverse products that meet the needs of the Qatari market. He emphasized that the private sector in both countries is responsible for building bridges of cooperation and continuous coordination on economic issues.

Jordan's exports to Qatar during the first 11 months of the previous year amounted to about JOD 76 million, covering a variety of products including chemical industries, food, machinery, equipment, plant products, and live animals, compared to around JOD 11 million in imports. 

The trade balance between Jordan and Qatar continued its remarkable growth in 2024, recording an increase of 5.6 percent on an annual basis compared to 2023.

According to the statistics on Qatar's Planning and Statistics Authority's (PSA) website, the volume of trade exchange between the two countries during the past year amounted nearly QAR 910 million (roughly USD 250 million), compared to QAR 860 million (roughly USD 236.2 million) during 2023, and QAR 800 million (roughly USD 219.7 million) during 2022.

Jordan's exports to Qatar include many diverse consumer and food goods and products, including fresh and processed food products and materials, vegetables and fruits, all types of dates, fresh cheeses and dairy products, meat and poultry, grains, rise, herbs, honey, and Jordanian coffee, while Qatar's exports to the Jordanian market include a variety of chemical materials, such as motor oils, lutrine, aluminum molds, paraffin, polyethylene, iron rods, various types of chemical fertilizers, and medical solutions.

The trade balance between Jordan and Qatar is witnessing rapid growth, supported by the continued increase in Qatari imports of Jordanian food and consumer goods and products, especially vegetables and fruits, which have recorded a particularly large jump since 2020.

The trade balance between the two countries over the past ten years exceeded QAR 11.5 billion (roughly USD 3.17 billion), according official statistics issued by PSA.

In a statement with Qatar News Agency (QNA), Chairman of Jordanian Businessmen Association (JBA) Hamdi Tabbaa pointed out the vitality of the Jordanian-Qatari relations, noting the existence of mutual economic interests framed by many agreements and memoranda of understanding between the two countries and at the level of private sector institutions.

The Jordanian-Qatari Joint Business Council, which was established in 2005 between JBA and the Qatari Businessmen Association (QBA), confirmed the existence of genuine aspirations on the Jordanian private sector's part to develop economic and investment relations with its Qatari counterpart in various vital sectors, he added.

Tabbaa noted that JBA is making tireless efforts to enhance economic, trade and investment relations between Jordan and Qatar, indicating that there is permanent cooperation between the two sides through continuous meetings and trade delegations that are organized between the two countries.

The next phase will witness more cooperation and coordination between Qatari and Jordanian businesspersons, he added, calling on businesspersons and investors in the two countries to increase their joint investments and diversify them through many economic sectors and activities that represent value and add quality to the current projects and investments.

The volume of Qatari investments in Jordan amounts to about USD 1.6 billion, distributed across the sectors of tourism services, banking, health and education, in addition to USD 1.5 billion of Qatari investments in the Amman Stock Exchange (ASE). (QNA)