JBA, Sweden envoy talk economic, investment ties

Amman: The head and members of the Jordanian Businessmen Association (JBA) Saturday discussed with Sweden’s Ambassador Alexandra Rydmark prospects for forging closer economic, trade and investment relations between the business communities in both countries.

JBA President Hamdi Tabbaa briefed the envoy on efforts to promote key investment opportunities in promising economic sectors in Jordan, stressing its keen interest in promoting Jordan’s foreign relations, and noting the establishment of a Jordanian-Swedish business council on the sidelines of the King of Sweden’s visit to Jordan in November.

Tabbaa spoke of the importance of work programs to follow up on the outcome of the royal visit to raise the volume of trade between the two sides, which is still “modest”, and promote joint investments.

For her part, Rydmark emphasized the need for executive work programs, particularly after the establishment of a joint business council, urging the two sides to arrange mutual visits in the middle of the year, especially the pharmaceutical and medical care industries and communications and information technology sector.

She agreed that the volume of bilateral trade is still modest and needs more work as Jordan does not import directly from Sweden, but through regional countries, noting that the Swedish side lacked information about Jordan, urging networking between the business communities.

Marcus Petersson, Swedish Trade Commissioner for Business, referred to the “successful” visit of the Swedish Monarch, pointing out that Jordanian companies importing from Sweden have remarkably increased, which is a “positive indicator”.

The volume of trade between the two countries in 2021 was about $82.3 million, of which $6.3 million in Jordanian exports, mainly vegetables, foodstuffs and chemicals, while imports from Sweden were at $76 million, mostly pharmaceuticals, machinery and wood products.

Source: Jordan News Agency