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The launch of the Jordanian-Iraqi Forum for Finance and Business under the auspices of the Association of Iraqi Private Banks
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Economy News _ Baghdad
The Jordanian-Iraqi Business Forum was held in the Jordanian capital, Amman, under the auspices of the Association of Iraqi Private Banks.
The forum was inaugurated by the Minister of Industry, Trade and Supply and the Minister of Labor, Youssef Al-Shamali. The forum aims to move the two countries' relations to new horizons and a phase of work and common benefits.
Government officials, the executive director of the Iraqi Private Banks Association, Ali Tariq, the head of the Iraqi Business Council in Amman, Majed Al-Saadi, and business owners and companies from the two countries participated in the forum, under the slogan "Building Bridges of Common Prosperity."
In his speech, which was followed by "Al-Iqtisad News", Al-Shamali affirmed the strength of bilateral relations between the two brotherly countries and the endeavors made to develop them in various fields, especially economic ones, as a translation of the visions and directives of His Majesty King Abdullah II and the Iraqi leadership, and to maximize the benefit from the available opportunities and work on integration in many sectors. He said that
economic challenges still cast a heavy shadow over the economies and societies of countries, and make the economic issue the most prominent aspect of relations between them in light of the repercussions of major global events such as the Corona pandemic, and the disruption of global supply networks due to the continuous change in energy prices, production and transportation costs, and global political turmoil.. He pointed out that
the basis on which these ties are based is of strategic origin due to common interests, geographical location and a long history of ties and connections. He added,
"The growth of economic ties between Jordan and Iraq is a prominent aspect of the strong relations, and Jordan and Iraq have achieved a lot in the context of bilateral cooperation to face these challenges, as
the volume of trade exchange increased from $580 million in 2021 to $900 million last year, and the volume of Iraqi investments reached In Jordan, about 32 billion dollars. Al-Shamali said,
"We are on the path to developing this cooperation, and
an example of it is the joint economic city between Jordan and Iraq, which work has begun to implement, which will
which allows the products of this city to reach more than a billion consumers without any technical or customs restrictions, including the markets of the two brotherly countries. He pointed out that
the meetings of the twenty-ninth session of the joint Jordanian-Iraqi committee, which were held in the capital, Baghdad, last February, during which practical solutions were reached to many challenges to consolidate strategic relations between the two countries.
In turn, Minister of Investment Kholoud Al-Saqqaf stressed the importance of strengthening the Jordanian-Iraqi partnership and enabling it in various fields, especially economic and investment, and
translating it into a reality that serves the interests of both countries, given the strength of brotherly relations, geographical proximity and agreements signed between the two parties, which contribute to the establishment of fruitful partnerships in all fields. She said that
Iraqi investments in the Kingdom contributed to economic development and were distributed to many economic sectors, such as real estate, financial, industrial, tourism and others, stressing that
Jordan is looking forward to more Iraqi investments, expanding existing ones, and establishing fruitful partnerships that benefit both countries. She referred to
the most important reforms that the government has pursued economically, politically and administratively, to achieve comprehensive and sustainable growth and improve the quality of life for Jordanian citizens, in order to align with the vision of economic modernization 2033, which is a national road map with ambitious and realistic standards over the next ten years, indicating that
the investment engine is one of the most important engines. Vision It aims to stimulate domestic and foreign investments and enhance the investment environment in Jordan. Al-Saqqaf confirmed that
the Ministry of Investment was newly established to be concerned with the investment file and the main reference for investment in the Kingdom, in order to achieve the goals of the economic vision, and is working to implement several initiatives,
the most important of which are: adopting the general policy for investment in the Kingdom and the promotion strategy for the years (2023-2026), which included the most important sectors of interest. Priority and target markets, in addition to tools and mechanisms to promote these sectors, including the investment map project,
in addition to that an electronic platform for the investor (InvestGo) will soon be launched as a promotional tool for the Kingdom as an investment destination in the Middle East.
The Minister of Investment reviewed the most important advantages and incentives included in the investment environment law and the regulations and instructions issued according to it, in addition to the most important investment opportunities in many sectors that are considered attractive and competitive for the Iraqi investor. She referred to
the most prominent investment opportunities in the Kingdom, especially in the sectors of information technology, tourism, medical tourism, pharmaceutical industries, life sciences, health care services, food industries, clothing, textiles, agriculture, logistics, chemicals and fertilizers.
In turn, the head of the Jordan and Amman Chambers of Industry, Eng. Fathi Al-Jaghbir, said that the forum represents an important stage in strengthening the bonds of Jordanian-Iraqi relations and provides an opportunity for closer cooperation between the two brotherly countries,
expressing his pride in the depth of the historical relations that bind Jordan and Iraq. He added that
the two countries have an opportunity to build economic gains and expand the scope of cooperation in many key sectors such as energy, industry, education, health care and infrastructure, indicating that
the Iraqi market provides great opportunities for Jordanian products and services, just as the Kingdom’s market provides an opportunity for Iraqi products to expand in them.
Al-Jaghbir called for facilitating procedures and providing support to small and medium-sized companies, as they constitute the backbone of any economy,
pointing out that favorable policies for business and modern and appropriate legislation are crucial to the development of a healthy and prosperous work environment. He pointed out that
the products of the Jordanian industry have reached more than 130 markets around the world, and this is the result of the continuous efforts of Jordanian industrialists who work hard to ensure the quality of their products and maintain their global reputation. He explained that
the industrial sector is proud that the Jordanian industrial specifications keep pace with the European and American specifications, which means that the products of the Jordanian industry meet international quality standards, which makes them competitive in the global markets. He pointed out,
"We, as a business community, are committed to working hard to increase trade and investment numbers between Jordan and Iraq, to enhance understandings, and to work towards integrating industries and meeting industrial needs in the two countries, and for the two countries' relations to be based on the (win-win) principle." Al-Jaghbir indicated that
Iraq is an important economic and trade partner for the Kingdom, stressing that
the Jordanian industrial sector is making great efforts to strengthen economic relations, increase exports, open broad horizons for cooperation and build joint projects.
For his part, the head of the Iraqi Business Council in Amman, Dr. Majed Al-Saadi, appreciated the great support provided by Jordan under the leadership of His Majesty King Abdullah II to Iraq, investors, business owners and the Iraqi people. He said that
the forum is a new beginning to advance economic relations between the two countries and to build on the achievements made in light of the strong relations between the two countries at various levels. He added that
the Iraqi Business Council is working with great efforts to advance economic relations between the two countries to the levels that we aspire to reach, indicating that
Iraq is currently going through different circumstances than before, as
there is a national unity government and it has an ambitious economic program directed to the Arab private sector and the world to invest in many projects. Al-Saadi stressed that
the tripartite initiative that brings together Iraq, Jordan and Egypt is an important step to invest in the available opportunities to reach regional economic integration between the three countries, stressing
the Business Council's keenness to be a link between investors and build partnerships between them. He pointed out that
Iraq's budget for the current year focuses on large sectors, including building one million housing units and 10,000 schools, in addition to infrastructure projects, which opens a wide field for Jordanian and Arab companies to invest in this field.
He called on the Jordanian and Iraqi private sectors to invest in the opportunities available between the two countries, stressing that the economy is the main supporter of stability and well-being, providing job opportunities and achieving development.
For his part, the head of the National Commission for Investment in Iraq, Dr. Haider Makiya, expressed his hope that the next stage would witness the building of real economic bridges between Jordan and Iraq in order to stimulate investment between the two countries, noting that
the state of stability in Iraq was reflected in the investment situation. He said that
the Iraqi arena is witnessing today the launch of many investment activities in the sectors of housing, energy, agriculture, industry and infrastructure. He stressed that
Iraq is on the verge of a major strategic project represented by the establishment of a "development road" that reaches Jordan and Syria with the aim of enhancing integration between the countries of the region, explaining that
industrial and commercial cities will be established on both sides of the road, which are currently in the process of studies and preparation of designs by international companies.
Makiya called on Jordanian companies and investors to participate in the realization of this project.
He referred to the incentives, benefits, tax exemptions and guarantees that Iraq provides to investors with the aim of attracting them, referring to
the most prominent projects that his country is currently working on implementing, especially in the housing sector through the construction of residential cities and the establishment of a silica production plant.
Participants in the forum will discuss, during working sessions,
They will also discuss investment in the
On the sidelines of the forum, bilateral meetings will be held between the participants, and an exhibition for companies to present their products and services and the development they have reached to a specialized segment with the aim of opening new distribution channels, in a way that contributes to increasing the trade exchanges of the two countries and expanding the base of goods exchanged between them.
190 views Added 06/22/2023 - 10:16 AM
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reports
Economy News _ Baghdad
The Jordanian-Iraqi Business Forum was held in the Jordanian capital, Amman, under the auspices of the Association of Iraqi Private Banks.
The forum was inaugurated by the Minister of Industry, Trade and Supply and the Minister of Labor, Youssef Al-Shamali. The forum aims to move the two countries' relations to new horizons and a phase of work and common benefits.
Government officials, the executive director of the Iraqi Private Banks Association, Ali Tariq, the head of the Iraqi Business Council in Amman, Majed Al-Saadi, and business owners and companies from the two countries participated in the forum, under the slogan "Building Bridges of Common Prosperity."
In his speech, which was followed by "Al-Iqtisad News", Al-Shamali affirmed the strength of bilateral relations between the two brotherly countries and the endeavors made to develop them in various fields, especially economic ones, as a translation of the visions and directives of His Majesty King Abdullah II and the Iraqi leadership, and to maximize the benefit from the available opportunities and work on integration in many sectors. He said that
economic challenges still cast a heavy shadow over the economies and societies of countries, and make the economic issue the most prominent aspect of relations between them in light of the repercussions of major global events such as the Corona pandemic, and the disruption of global supply networks due to the continuous change in energy prices, production and transportation costs, and global political turmoil.. He pointed out that
the basis on which these ties are based is of strategic origin due to common interests, geographical location and a long history of ties and connections. He added,
"The growth of economic ties between Jordan and Iraq is a prominent aspect of the strong relations, and Jordan and Iraq have achieved a lot in the context of bilateral cooperation to face these challenges, as
the volume of trade exchange increased from $580 million in 2021 to $900 million last year, and the volume of Iraqi investments reached In Jordan, about 32 billion dollars. Al-Shamali said,
"We are on the path to developing this cooperation, and
an example of it is the joint economic city between Jordan and Iraq, which work has begun to implement, which will
- enhance trade exchange,
stimulate joint investments, and
benefit from the exemptions and advantages of free trade agreements that the Kingdom signed with many countries in general." Bilateral or multilateral,
which allows the products of this city to reach more than a billion consumers without any technical or customs restrictions, including the markets of the two brotherly countries. He pointed out that
the meetings of the twenty-ninth session of the joint Jordanian-Iraqi committee, which were held in the capital, Baghdad, last February, during which practical solutions were reached to many challenges to consolidate strategic relations between the two countries.
In turn, Minister of Investment Kholoud Al-Saqqaf stressed the importance of strengthening the Jordanian-Iraqi partnership and enabling it in various fields, especially economic and investment, and
translating it into a reality that serves the interests of both countries, given the strength of brotherly relations, geographical proximity and agreements signed between the two parties, which contribute to the establishment of fruitful partnerships in all fields. She said that
Iraqi investments in the Kingdom contributed to economic development and were distributed to many economic sectors, such as real estate, financial, industrial, tourism and others, stressing that
Jordan is looking forward to more Iraqi investments, expanding existing ones, and establishing fruitful partnerships that benefit both countries. She referred to
the most important reforms that the government has pursued economically, politically and administratively, to achieve comprehensive and sustainable growth and improve the quality of life for Jordanian citizens, in order to align with the vision of economic modernization 2033, which is a national road map with ambitious and realistic standards over the next ten years, indicating that
the investment engine is one of the most important engines. Vision It aims to stimulate domestic and foreign investments and enhance the investment environment in Jordan. Al-Saqqaf confirmed that
the Ministry of Investment was newly established to be concerned with the investment file and the main reference for investment in the Kingdom, in order to achieve the goals of the economic vision, and is working to implement several initiatives,
the most important of which are: adopting the general policy for investment in the Kingdom and the promotion strategy for the years (2023-2026), which included the most important sectors of interest. Priority and target markets, in addition to tools and mechanisms to promote these sectors, including the investment map project,
in addition to that an electronic platform for the investor (InvestGo) will soon be launched as a promotional tool for the Kingdom as an investment destination in the Middle East.
The Minister of Investment reviewed the most important advantages and incentives included in the investment environment law and the regulations and instructions issued according to it, in addition to the most important investment opportunities in many sectors that are considered attractive and competitive for the Iraqi investor. She referred to
the most prominent investment opportunities in the Kingdom, especially in the sectors of information technology, tourism, medical tourism, pharmaceutical industries, life sciences, health care services, food industries, clothing, textiles, agriculture, logistics, chemicals and fertilizers.
In turn, the head of the Jordan and Amman Chambers of Industry, Eng. Fathi Al-Jaghbir, said that the forum represents an important stage in strengthening the bonds of Jordanian-Iraqi relations and provides an opportunity for closer cooperation between the two brotherly countries,
expressing his pride in the depth of the historical relations that bind Jordan and Iraq. He added that
the two countries have an opportunity to build economic gains and expand the scope of cooperation in many key sectors such as energy, industry, education, health care and infrastructure, indicating that
the Iraqi market provides great opportunities for Jordanian products and services, just as the Kingdom’s market provides an opportunity for Iraqi products to expand in them.
Al-Jaghbir called for facilitating procedures and providing support to small and medium-sized companies, as they constitute the backbone of any economy,
pointing out that favorable policies for business and modern and appropriate legislation are crucial to the development of a healthy and prosperous work environment. He pointed out that
the products of the Jordanian industry have reached more than 130 markets around the world, and this is the result of the continuous efforts of Jordanian industrialists who work hard to ensure the quality of their products and maintain their global reputation. He explained that
the industrial sector is proud that the Jordanian industrial specifications keep pace with the European and American specifications, which means that the products of the Jordanian industry meet international quality standards, which makes them competitive in the global markets. He pointed out,
"We, as a business community, are committed to working hard to increase trade and investment numbers between Jordan and Iraq, to enhance understandings, and to work towards integrating industries and meeting industrial needs in the two countries, and for the two countries' relations to be based on the (win-win) principle." Al-Jaghbir indicated that
Iraq is an important economic and trade partner for the Kingdom, stressing that
the Jordanian industrial sector is making great efforts to strengthen economic relations, increase exports, open broad horizons for cooperation and build joint projects.
For his part, the head of the Iraqi Business Council in Amman, Dr. Majed Al-Saadi, appreciated the great support provided by Jordan under the leadership of His Majesty King Abdullah II to Iraq, investors, business owners and the Iraqi people. He said that
the forum is a new beginning to advance economic relations between the two countries and to build on the achievements made in light of the strong relations between the two countries at various levels. He added that
the Iraqi Business Council is working with great efforts to advance economic relations between the two countries to the levels that we aspire to reach, indicating that
Iraq is currently going through different circumstances than before, as
there is a national unity government and it has an ambitious economic program directed to the Arab private sector and the world to invest in many projects. Al-Saadi stressed that
the tripartite initiative that brings together Iraq, Jordan and Egypt is an important step to invest in the available opportunities to reach regional economic integration between the three countries, stressing
the Business Council's keenness to be a link between investors and build partnerships between them. He pointed out that
Iraq's budget for the current year focuses on large sectors, including building one million housing units and 10,000 schools, in addition to infrastructure projects, which opens a wide field for Jordanian and Arab companies to invest in this field.
He called on the Jordanian and Iraqi private sectors to invest in the opportunities available between the two countries, stressing that the economy is the main supporter of stability and well-being, providing job opportunities and achieving development.
For his part, the head of the National Commission for Investment in Iraq, Dr. Haider Makiya, expressed his hope that the next stage would witness the building of real economic bridges between Jordan and Iraq in order to stimulate investment between the two countries, noting that
the state of stability in Iraq was reflected in the investment situation. He said that
the Iraqi arena is witnessing today the launch of many investment activities in the sectors of housing, energy, agriculture, industry and infrastructure. He stressed that
Iraq is on the verge of a major strategic project represented by the establishment of a "development road" that reaches Jordan and Syria with the aim of enhancing integration between the countries of the region, explaining that
industrial and commercial cities will be established on both sides of the road, which are currently in the process of studies and preparation of designs by international companies.
Makiya called on Jordanian companies and investors to participate in the realization of this project.
He referred to the incentives, benefits, tax exemptions and guarantees that Iraq provides to investors with the aim of attracting them, referring to
the most prominent projects that his country is currently working on implementing, especially in the housing sector through the construction of residential cities and the establishment of a silica production plant.
Participants in the forum will discuss, during working sessions,
- investing in the financial and banking sector,
opportunities,
challenges,
experiences and success stories, the
investment environment, the
available investment opportunities, and the
laws and instructions governing investment in both Iraq and Jordan.
They will also discuss investment in the
- industrial sector,
energy,
mining and real estate development projects,
opportunities,
challenges,
experiences and success stories, and
investment in the transportation, services, communications and information technology sectors .. opportunities,
challenges,
experiences and success stories.
On the sidelines of the forum, bilateral meetings will be held between the participants, and an exhibition for companies to present their products and services and the development they have reached to a specialized segment with the aim of opening new distribution channels, in a way that contributes to increasing the trade exchanges of the two countries and expanding the base of goods exchanged between them.
190 views Added 06/22/2023 - 10:16 AM
[You must be registered and logged in to see this link.]
