Minister of Industry, Trade and Supply and Minister of Labor Youssef Shamali and Cypriot Minister of Energy, Trade and Industry Giorgos Papanastasiou discussed on Wednesday mechanisms for cooperation in the fields of industry, trade and investment and stimulating the private sector. Shamali stressed the importance of strengthening economic cooperation between Jordan and Cyprus in various fields, especially trade and investment, and taking advantage of the available opportunities. The two ministers also underscored the importance of taking practical steps to increase intra-trade and directing businessmen in Jordan and Cyprus to establish investment projects, in implementation of the outcomes of the summit meeting that brought together His Majesty King Abdullah II and President Cypriot Nikos Christodoulides in Amman yesterday. They also agreed to draw up an action plan and establish a joint committee between the Ministries of Industry and Trade in both countries to enhance bilateral cooperation, take advantage of available opportunities and arrange meetings between businessmen and the private sector. The two sides stressed the importance of identifying trade and investment opportunities, which will be the basis for action in the coming period to increase intra-trade and the possibility of achieving integration in some sectors and taking advantage of the unique locations of both countries. Shamali touched on economic reforms implemented by the government in implementation of the directives and visions of King Abdullah, culminating in the launch of the Economic Modernization Vision, the issuance of the Investment Environment Law and the modernization of legislation regulating economic activity. For his part, the Cypriot minister stressed the need for maximizing the benefit from the outcomes of the summit meeting and the outcomes of talks between His Majesty and the Cypriot President. He described bilateral relations as "distinguished," noting that the upcoming years will take economic cooperation to an advanced stage, which would increase the volume of trade exchange.
Source: Jordan News Agency