Jordan Times
Friday, December 1, 2006
King looks for long-term
relations between Jordanian-Indian businesses
His Majesty King Abdullah speaks to Indian businesspeople in New Delhi on
Thursday (Photo by Yousef Allan)
NEW DELHI (Agencies) — His Majesty King Abdullah on Thursday urged Indian
investors to take advantage of opportunities opening up in the country.
“I am looking to long-term relations between India and Jordan in the business
sector,” the King said at a dinner hosted by leading Indian industry chambers.
The King said he wanted to see success replicas of the joint venture,
Indo-Jordan Chemicals. The firm currently exports 250,000 tonnes of phosphoric
acid to India, according to Indo-Asian News Service (IANS).
The Monarch and Her Majesty Queen Rania arrived in India earlier in the day on a
three-day visit that is expected to give a fresh impetus to economic relations
between the two countries.
The King urged the two sides to explore means to improve bilateral relations
further and to examine “how Jordan can become more hospitable to Indian
investment,” he was quoted by IANS as saying.
The Jordan News Agency, Petra, said the King briefed the Indian businessmen on
the country’s plan to launch a series of special economic zones.
Last month, the King launched the Mafraq Special Development Zone, a $750
million project designed to attract industries and other investments that are
expected to breathe life into this underdeveloped desert district to the
northeast of the Kingdom. King Abdullah, according to Petra, cited the success
of the five-year-old Aqaba Special Economic Zone was a key drive behind the
plan.
He mentioned pharmaceuticals, construction, downstream mining, ICT and
hospitality as some of the areas Indian businesses could look into for
investment and voiced hope that Jordanian-Indian partnerships could expand to
include counties in the Middle East and North Africa.
Jordan seeks to benefit from the Indian experience in transportation, IT and
alternative energy technologies, the King said.
Industry and Trade Minister Salem Khazaaleh briefed the meeting on the Jordan’s
investment climate, saying the country, despite meagre natural resources, has
access to more than a billion customers in overseas markets through various
trade agreements.
Jordan has signed a number of Free Trade Agreements with the US, the European
Union and 17 Arab countries.
India is the second largest trade partner of Jordan after the United States.
Jordan Investment Board CEO Maan Nsour acquainted the Indian business leaders
with incentives offered by Jordan’s laws to investors.
Bilateral trade between the two countries has been rising steadily and was at
$495 million in 2005, in Jordan’s favour.
Several Indian companies are currently looking for investment opportunities in
Jordan in garments, chemicals, hotels and jewellery, the IANS said.
Meanwhile, Indian press reports said, the Indian cabinet Thursday approved
bilateral agreements the two sides are expected to sign Friday in the fields of
agriculture, tourism and investment promotion and protection.