Oman and Jordan – a promising outlook
The upcoming state visit of His Majesty Sultan Haitham bin Tarik to the Hashemite Kingdom of Jordan and his meeting with King Abdullah II Ibn Al Hussein of Jordan will be an important step in building cooperation between the two countries in various spheres, especially in the economic, tourism, trade and investment areas.
The two leaders' talks in Amman are also expected to address regional and international issues of common interest based on their political consensus, most notably on the Israeli aggression against the Gaza Strip, Palestine, and the Palestinians in general, where the two countries agree on their political positions on these issues.
The visit follows on from the highly successful visit by King Abdullah to Oman in October 2022 when the two leaders reiterated their keenness on strengthening joint investment, welcoming the signing of understandings, agreements and programmes in different fields.
Sheikh Fahad bin Abdulrahman Alojaili, Oman's Ambassador of Oman to Jordan says that His Majesty’s visit to Jordan will be of great importance, as it is the first official visit of His Majesty to Jordan since he assumed the reins of power.
The Ambassador told the Oman News Agency (ONA) that the visit will address key issues, in addition to discussing the distinguished fraternal relations between the two countries, that extend over 53 years. He described the relations between Oman and Jordan as a vivid example of fraternity, cooperation and understanding.
The Ambassador added that the visit has great objectives, in light of regional and international developments, as it increases the ongoing coordination between the two countries on issues of common concern, especially the Palestinian cause. He said that relations between Oman and Jordan are characterised by consensus on issues of crucial concern to the Arab nation and by cooperation in all that seeks to achieve security and stability for the two countries and the region in general.
Oman and Jordan agree that peaceful dialogue is the only way to resolve differences in the region and that working to stimulate such dialogue in accordance with international resolutions in order to maintain stability is both a strategic goal and an opportunity for future generations, added the Ambassador.
He noted that Oman and Jordan believe that peace and development will lead to achieving security and stability in the entire region.
Ambassador Alojaili underlined the importance of His Majesty’s visit in enhancing cooperation in all fields, but especially in boosting commercial, investment and industrial exchanges as well as cooperation between the private sectors in the two countries.
He said that Oman's Embassy in Jordan works to highlight the investment opportunities and promising sectors available in Oman to all the chambers of commerce in Jordan and to interested business executives. This work, he explained, includes providing reviews of the performance of the Omani economy and information on the investment incentives on offer in Oman we well as coordinating visits to the Sultanate by Jordanian business leaders keen to explore the investment opportunities. The Ambassador added that the Embassy also coordinates business meetings and creates communication channels between government officials and potential investors.
Amjad Jamil Quhaiwi, Jordan's Ambassador to Oman pointed out that the visit of His Majesty in response to an invitation by King Abdullah II reflects the distinguished and long standing relations between the two countries.
He told ONA that the visit embodies the continuing cooperation and close diplomatic relations between the two countries, adding that it represents an opportunity to explore new areas, noting that the visit coincides with the Kingdom of Jordan's celebration of the silver jubilee of King Abdullah II assuming the reins of power.
He said that this visit has added importance as it is an opportunity for the two countries to participate in fundamental discussions at a crucial time on a variety of regional and international issues. He stressed that historically the two countries have identical views on various Arab, regional and international issues, with continuous consultation and coordination between clearly evident in international forums such as the United Nations and the Security Council.
The Jordanian Ambassador pointed out that this can be seen in developments on the Palestinian issue and the Arab-Israeli conflict, especially the efforts aimed at stopping the Israeli aggression on the Gaza Strip, and delivering humanitarian aid immediately and adequately to all parts of the Strip, as well as the need for continued coordination and consultation on ways to stop the catastrophic conditions in Gaza, and in efforts to reaching a permanent and immediate ceasefire.
He stated that there is continuous communication through a series of meetings aimed at strengthening trade and economic relations between the two countries and creating investment opportunities and partnerships. He added that these relations are now witnessing widespread activity and greater momentum after the meeting of the two leaders in 2022, after which a Jordanian-Omani working group was formed to explore investment opportunities and economic cooperation between the two countries.
The Ambassador explained that there is ongoing communication between the chambers of commerce and industry and investment bodies in the two countries to determine the extent of progress in economic and trade cooperation between Oman and Jordan and to arrange meetings between business leaders in the two countries.
He noted that there are opportunities for cooperation in the fields of information technology, food, agriculture, pharmaceuticals, mining and communications industries, stressing a shared keenness to promote economic cooperation and reduce any obstacles facing business executives and the private sector.
Statistics issued from Oman's National Centre for Statistics and Information show that the volume of trade between Oman and Jordan witnessed remarkable growth during 2023, registering a 25 percent increase to reach about OMR 74.5 million, compared to OMR 59.7 m in 2022.
Oman's exports to Jordan increased by 28.2 percent in 2023 , exceeding OMR 43.8m compared OMR 34,2m in 2022. Oman’s imports from Jordan in 2023 amounted to about OMR 27, 5m an increase of 41.5 percent compared to 2022 when they were OMR 19,4m.
Preliminary statistics show that at the end of last year the value of Jordan's direct investments in Oman amounted was about OMR 241.8 m.
988 companies with Jordanian shareholding were registered in Oman at the end of 2023, compared to 758 companies in 2022. The total invested capital stood at more than RO 78.7m.
Last February, Oman and Jordan signed several memoranda of understanding relating to attracting direct investment, developing cooperation between the chambers of commerce in both countries, encouraging trade and investment partnerships and expanding the horizons of economic cooperation and business relations between the two countries.
A memorandum of understanding was also signed between the Omani and Jordanian private sectors in the field of supply and trade.
Oman and Jordan have held a series of joint economic and investment meetings and forums with the participation of officials and stakeholders from the public and private sectors in both countries. These have discussed how to expand trade cooperation and investment partnerships, how to activate bilateral agreements that support this and how to benefit from the economic opportunities available in the two countries.
Faisal bin Abdullah Al Rowas, Chairman of Oman Chamber of Commerce and Industry (OCCI) said that the economic, trade and investment relations between Oman and Jordan have witnessed remarkable development and growth over the past period, in the context of the continued interest and support of the leaderships of the two countries.
He told ONA that the private sector in the two countries is seeking to build economic relations to ambitious levels of while attracting investments and expanding the base of economic diversification. The OCCI chairman said that this aims to achieve the goals of “Oman Vision 2040” and the vision of Jordan’s economic modernisation “unlocking the potential to build the future.” Both sides, he added, seek to provide facilities and incentives to enable the private sector to contribute to achieving prosperity and sustainable growth.
Khalil El Haj Tawfiq, President of Jordan's Chamber of Commerce stressed the need for the private sector in both countries to make even greater efforts to push the economic, trade and investment relations between Oman and Jordan to new levels.
In a statement to ONA he said that a Jordanian business delegation will visit Oman soon, to discuss setting up joint projects with the Omani private sector, to increase still further the trade between the two countries.
He called on the Omani private sector to benefit from the free trade agreements that link Jordan with many global economic blocs, in order to export its products to foreign markets as well as neighbouring Arab countries.
The tourism sector also shows potential for growth – last year, nearly 22,000 Omani tourists visited Jordan.
In the cultural arena, the Omani Studies Unit at Al al-Bayt University, funded by the Government of the Sultanate of Oman, is one of the most prominent areas of cooperation between the two countries. It works to promote an understanding of key aspects of Omani history and civilisation and the contributions of the Sultanate of Oman to Islamic civilisation.
The cultural cooperation between the two countries also includes the participation of Omani and Jordanian writers in intellectual and literary festivals with both sides participating in international book fairs organised in Muscat and Amman.
Cooperation in the academic sphere is also increasing with more then 2.300 Omani students studying in Jordanian universities at the beginning of this year.
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