AMMAN: Trade exchanges between Jordan and Kuwait soared from USD 44 million in 2000 to some USD 400 million last year, by a percentage of 800 percent, said the Jordanian Minister of Commerce and Industry. Maha Ali, in an interview with Kuwait News Agency (KUNA) on Wednesday, said such continuing and substantial rise of the commerce exchanges between Kuwait and Jordan signaled development of the bilateral relations in general, particularly at this level.
Jordanian exports to Kuwait, last year, rose to USD 295 million, placing Kuwait the sixth among Arab and foreign countries in trade cooperation with the Kingdom of Jordan, after coming 8th in 2014. Jordan exports to Kuwait various commodities and products, such as vegetables, fruits, livestock, papers, fertilizers, medicines, machines and equipment. The Kingdom imports from Kuwait diesel and poly-ethylene. The imports from the Gulf country reached USD 105 million of value last year.
The two sides regularly hold meetings at the level of joint committees. The third session was held in Kuwait in November, 2012. The fourth round is forecast to be held in Kuwait in May. The technical commercial commission, which tackles hurdles that obstruct commercial cooperation between the two countries, held its regular meeting in Amman in June. Minister Ali, in the interview with the Kuwaiti news network, affirmed the Kingdom keenness on elevating level of bilateral investment cooperation, in the hope of establishing an economic partnership.
Jordan dedicates full care for the Kuwaiti investments, estimated at USD 12 billion, in the country, she said, indicating that Amman offers various facilities and incentives for the Kuwaiti entrepreneurs. The Kuwaiti investments are in various sectors such as tourism, industries, banks, communications, property and transports. Moreover, Kuwaiti enterprises, estimated at USD 800 million, centered in industries, agriculture and hospital, benefit from recent legislative and legal amendments.
The Kingdom has recently modified the relevant laws, centralizing jurisdictions in the Investment Authority, with aim of facilitating paper work and transactions as well as procedures related to permits. Kuwait’s contribution to the GCC grant to the Kingdom accounts to USD 1.20 billion.
