Amman:Jordan and Barbados are actively pursuing new trade and investment partnerships aimed at enhancing market access for Jordanian manufacturers in the Caribbean and Latin America. This initiative also seeks to position Jordan as a strategic entry point for Barbadian businesses into the Middle East.
According to Jordan News Agency, during the Jordanian-Barbadian Business Forum held at the Amman Chamber of Industry, Barbados Prime Minister Mia Amor Mottley expressed her government's interest in exploring agreements with Jordan to avoid double taxation and promote investment protection. These agreements aim to create a stable regulatory environment for investors and strengthen commercial relations between the two nations.
Prime Minister Mottley highlighted several potential areas for collaboration, including pharmaceuticals, medical devices, education, engineering, tourism, the blue economy, defense, and security. She emphasized that Barbados could offer Jordanian businesses access to a regional single market and leverage trade agreements with countries such as the Dominican Republic, Costa Rica, and Colombia. Furthermore, Barbados' ties with the United States and Canada could facilitate opportunities for Jordanian companies to expand in the Americas.
Improving logistics connections is deemed crucial to enhancing bilateral trade, especially in light of global supply chain shifts. Mottley expressed optimism about Jordan serving as a business hub for Barbadian enterprises in the Middle East, while Barbados could act as a platform for Jordanian expansion in the Americas.
Fathi Jaghbir, President of the Jordan and Amman Chambers of Industry, emphasized the potential for cooperation in Jordan's diverse manufacturing sector, particularly in pharmaceuticals, food processing, chemicals, fertilizers, and engineering. He noted that Jordanian industrial products currently reach over 150 global markets, underscoring the sector's competitiveness.
Rana Obeidat, Director General of the Jordan Food and Drug Administration (JFDA), detailed Jordan's pharmaceutical sector, noting the country's 9,566 registered pharmaceutical products, with a significant portion manufactured locally for export. She outlined Jordan's regulatory role in overseeing pharmaceuticals and other products, and highlighted the country's export achievements in this sector.
Prime Minister Mottley commended Jordan's regulatory framework, while Fadi Atrash from the Jordan Chamber of Industry identified areas for cooperation, including the manufacture of sterile medicines and wellness products. He also mentioned Jordan's ambitious plans under the Economic Modernization Vision to significantly boost exports and employment in the therapeutic industries sector.