Interactive session on Indo-Jordanian business cooperation held in Jordan

YarnsandFibers News Bureau 2015-11-20 15:00:00 – Jordan

Indo-Jordanian business cooperation, an interactive session was organized by the Indian embassy in Jordan on Wednesday. India is Jordan’s fourth largest trading partner with $2.2 billion in trade and probably the biggest investor in textile sector and phosphate. At the session, titled "Make in India and Make in Jordan"-Harnessing the Synergies, which hosted Jordanian leading industrial figures and businessmen, speakers from Jordanian side highlighted investment opportunities available in Jordan.

Chairman of Jordanian Business Association Hamdi Tabbaa, in order to reach trade target of $5 billion in 2025 proposed broadening the commodity base and of utilizing comparative advantage of each country in the service sector such as information technology, construction, tourism, education and health.

He said that there are great opportunities to set up joint investment projects in the field such as textile, clothing, pharmaceutical, automotive, medicine and Dead Sea products, renewable energy and fertilizer industry, and of establishment of small- and medium-sized projects as well as support such as finance, training and technology transfer .

He called on Indian investors to take advantage of Jordan's geostrategic location, security, stability and attractive business environment as well as its free trade agreements with Arab countries, the US, Europe, Canada and Singapore.

The Indian Ambassador Anil Trigunayat briefed the gathering on business opportunities available in India under various initiatives by the new government in India. He highlighted opportunities available under "Make in India", “Digital India”, “Clean India”, “Skill India” and “Start-up India” initiatives.

He said there are large opportunities to increase economic exchange between India and Jordan, following a state visit of President of India to Jordan last month and the signing of six inter-governmental agreements and 12 agreements between universities.

To realize the potential, the government of India recently announced a line of credit worth $100 million for enhancement of trade and investment in Jordan, the ambassador noted.

The first Indo-Jordan Business Forum to be held in India in January 2016.

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