AMMAN — The Amman Chamber of Commerce (ACC) on Monday held a meeting with an economic Omani delegation titled "Joint Investment Opportunities between Oman and Jordan" in Amman to explore investment opportunities between both sides.

 

Participants discussed a number of working papers covering the investment climate of the Aqaba Special Economic Zone Authority, promising sectors, the investment environment in Oman, and the key features and incentives of Special Economic Zones and Free Zones in Oman (OPAZ) and industrial cities, in addition to some success stories.

 

President of the Jordan Chamber of Commerce (JCC) Khalil Haj Tawfiq said that Jordanian-Omani relations are based on “deep-rooted, historical” ties of mutual respect and constructive cooperation in various fields, according to a JCC statement.

 

Haj Tawfiq called for the activation of the memorandums of understanding (MoU) signed during the Jordanian-Omani meeting in February of last year between the Ministry of Investment and the Omani Ministry of Commerce, Industry, and Investment Promotion, as well as the agreement between the JCC and the Oman Chamber of Commerce and Industry (OCCI).

 

He stressed that activating MoUs and turning their provisions into "practical" programmes and tangible projects is of utmost importance.

 

Haj Tawfiq stressed that the JCC believes in the importance of transitioning the current economic relationship between the two countries from the "traditional" one, where each side seeks to increase its exports to the other, to a relationship of "genuine" economic integration and "non-competitive" partnership by leveraging each side’s strengths.

 

The JCC president also referred to the need to change the nature of the economic relationship between Jordan and Oman in the areas of logistics, supply chains, joint industries, and the establishment of warehouses for re-export.

 

He stressed the importance of providing options for Jordanian and Omani companies to ensure their exports are not affected, raw materials for their industries are secured, and the flow of goods, especially essential good continues.

 

Omani Ambassador to Jordan Sheikh Fahad Bin Abdul Rahman Alojaili stressed that the meeting opens up "wider" areas for joint investment and the exchange of expertise, which contributes to increasing trade and developing partnerships between the private and public sectors.

 

He said that the meeting provided an opportunity to boost economic relations and create new opportunities that are of mutual benefit to both countries.

 

Vice President of the Jordan Chamber of Industry (JCI) Mohammad Jitan stressed the existence of “broad” opportunities for cooperation in multiple sectors, most notably the chemical, food, and pharmaceutical industries, in addition to renewable energy projects, technology, and digital transformation.

 

He added that these areas are key drivers of global growth and a fundamental leverage for the economies of both countries, which aligns with Jordan's Economic Modernisation Vision (EMV) and ensures important opportunities to enhance joint integration and achieve mutual benefit.

 

Head of the Omani delegation and Vice President of the General Authority of OPAZ Ahmed Bin Hassan Al Dheeb said that the free zones provides a "comprehensive" investment environment, which is competitive and flexible with modern infrastructure.

 

He added that OPAZ also offers a package of incentives and facilities that attract quality investments in various fields, noting that Oman possesses several advantages including a qualified workforce and a strategic location, as well as a network of free trade agreements that connect it to many regional and global markets.

 

He stressed the authority's commitment to promoting innovation and sustainability, encouraging the transition towards the use of renewable energy, and developing logistical services.

 

Al Dheeb invited Jordanian businesspeople to explore opportunities and advantages and discuss ways of cooperation through joint projects that contribute to driving economic development and creating new job opportunities.

 

The volume of trade between Jordan and Oman reached some $164 million. Exports to the Omani market rose to about $107 million, with a growth rate of 30 per cent compared with 2023, according to JCC data.

 

This “positive” momentum continued during the first half of the current year, as the volume of trade increased by more than 13 per cent compared with the same period in 2024, the chamber said.