DOHA: Qatar-Jordan bilateral trade volume is expected to witness sharp jump this year, which may even double in coming years, top Qatari and Jordanian private industry representatives said yesterday.
Senior officials from government and private sector from both the nations are working closely to cement economic ties and establishing joint ventures to boost bilateral cooperation in a wide range of sectors, including logistics and other related services to boost trade exchange.
Sheikh Khalifa added: “We hope that bilateral trade volume will increase this year and coming at a significant rate. Last year, despite the siege, the trade volume between Qatar and Jordan did not decrease given the fact most Jordanian goods entered Qatar through land route on trucks until June 5, 2017. But due to the ongoing blockade we explored alternative route, and Jordanian goods are now re-exported to Qatar from Kuwait through sea route and vice-vice versa.” Qatar-Jordan trade volume in 2017 stood at $400m (QR1.45bn). Most Jordanian exports to Qatar include agricultural products, such as vegetables, fruits, meat and livestock among others.
Qatar’s exports to Jordan include chemicals, petrochemicals, and pharmaceutical products. Qatar’s investments in Jordan are mainly in banking, finance, real estate and power sectors. Some investments are also there in the field of retail and commercial business establishments such as malls and shopping centres. So there is a huge potential to expand in new areas.
Jordan’s business interests in Qatar are spread across in all sectors of the Qatari economy, which are expanding their footprint. More Jordanian companies are establishing joint ventures to make Doha as business hub to re-export their products, and bilateral cooperation is expanding fast.