Following is the remainder of the interview in QandA format”
1. What is the volume of trade exchange between the two countries? Are there Jordanian exports to China and what is its volume? Have they decreased after the pandemic?
In the past decade and more, China-Jordan bilateral trade volume has maintained a momentum of rapid growth and hit a record high of 4.11 billion US dollars in 2019. Affected by the pandemic and other unfavorable factors, the bilateral trade volume in 2020 fell to 3.61 billion US dollars, a decrease of 12.08%. Jordan’s exports to China suffered a minor loss in the wake of COVID-19, which stood at 426 million US dollars, a year-on-year drop of only 1.92%.
With a total population of 1.4 billion and a middle-income group of more than 400 million, China is the world’s most promising big market. Cumulative import of goods in the next 10 years is estimated at over 22 trillion US dollars. We welcome Jordanian companies at various trade exhibitions and fairs such as the China International Import Expo to expand export of Jordanian goods to China.
2. What is the volume of Chinese investments in Jordan, and in return, are there Jordanian investments in China?
Mutual investment is a new area of growth in economic and trade cooperation between China and Jordan, with many success stories in recent years. SDIC Mining Investment of China invested in Arab Potash Company and became its biggest shareholder, resulting in growing strategic partnership. In 2020, Arab Potash Company, weathering the pandemic, made historical gains in the production and sales of potash fertilizer. Jerrash Holdings, owned by its parent company in Hong Kong Special Administrative Region of China, became the first NASDAQ listed company in the Arab world. Jordan’s Talal Abu Gzala Group (TAG) invested in manufacturing in China and its electronic products are already marketed in the Middle East.
According to the 2019 Statistical Bulletin of China’s Outward Foreign Direct Investment issued by the Chinese government, the flow and stock of China’s direct investment in Jordan significantly increased compared with the level 10 years ago. In 2018, the flow of China’s direct investment in Jordan reached a record high of approximately 85.62 million US dollars, and the stock amounted to approximately 312 million US dollars in 2019. Statistics for 2020 are expected to be released in the second half of this year.
President Xi Jinping has reiterated on many occasions China’s unswerving adheres to the fundamental national policy of opening to the outside world. The Chinese government welcomes more Jordanian companies to invest and do business in China, at the same time encourages competent Chinese companies to invest in Jordan, scaling up two-way investment. It is hoped that the Jordanian side will continue to provide Chinese companies with a fair, transparent and non-discriminatory business environment.
Source: Jordan News Agency