The Minister of Industry, Trade, and Supply, Eng. Yarub Qudah, stated that Jordan is seeking to increase its exports to the markets of the West Bank, and that at the beginning of next year we will witness a doubling of our exports to the Palestinian market.
The Minister pointed out during a dialogue seminar organized by the Palestinian-Jordanian Business Forum that the development of the bridge and crossing between Jordan and Palestine is on the agenda and within this year's Economic Modernization Vision plan for completion, to facilitate and enhance bilateral trade.
During the seminar—attended by nearly 200 businesspeople under the umbrella of the Palestinian-Jordanian Business Forum—the Minister spoke about the Economic Modernization Vision, the role of the private sector and the Palestinian-Jordanian Business Forum in achieving it, the political situation in the region, and the role of the private sector in supporting and developing the Jordanian economy and trade exchange between Jordan and Palestine.
Minister Qudah emphasized that all ministries, including the Ministry of Industry and Trade, submit a monthly report on the projects listed within the Economic Modernization Vision, detailing what has been accomplished, the extent of any delays or weaknesses in implementation. This report is sent to the monitoring unit at the Royal Court to follow up on progress, noting that his ministry is following up on the implementation and completion of 50 projects according to an action plan with specific measurement indicators and a timeline.
He said that the private sector plays a major role in developing the national economy, driving growth, and creating job opportunities, and that they are working with the private sector to increase economic growth rates to create more jobs.
In response to attendees' questions, he explained that the foreign currency reserves at the Central Bank are the highest in over 40 years, describing them as comfortable and safe reserves, and that they are now considering increasing the capital of the Central Bank of Jordan due to the availability of foreign currency reserves.
The Minister confirmed that Jordan has received European assistance worth $3 billion for the next three years.
He indicated that Jordan is the gateway for reconstruction in Syria and Gaza, and that Jordanian policy is working and communicating with various international parties, which have confirmed that Jordan will be their gateway for the reconstruction of Syria. He noted that the economic situation in Syria is difficult and that the Syrian government currently lacks the funds for reconstruction, and that reliance will be on the Syrian private sector and the international community.
He explained that communication and coordination are ongoing with Syrian counterparts regarding the exemption from fees for transit movement between the two countries so that our products can pass through Syria to Eastern Europe and be competitive.
He pointed out that arrangements are being made to reopen the Bab al-Hawa international crossing within the next two months, noting that the crossing is a land transport artery between Europe, Syria, Jordan, and the Arab Gulf countries.
For his part, the Chairman of the Board of Directors of the Palestinian-Jordanian Business Forum emphasized the role of the private sector in achieving the Economic Modernization Vision, increasing growth rates, and attracting investments, indicating that the Forum seeks to promote investment opportunities in Jordan and partner with the public sector to improve the investment environment in the Kingdom to enhance its competitiveness.
He pointed out that the Business Forum includes more than 250 businesspeople from various economic sectors who own more than a thousand companies and employ thousands of Jordanian staff.
He (Attmah) indicated that partnership between the public and private sectors is the way to achieve the Economic Modernization Vision and improve the business environment.