Amman: The Jordanian Businessmen Association recently convened with Philippine Ambassador Wilfredo Santos to explore avenues for enhancing economic, investment, and trade relations between Jordan and the Philippines. Abdul Rahim Baqaei, a member of the association's board of directors, emphasized the importance of strengthening trade and investment relations, highlighting Jordan's extensive free trade agreements with various Arab and global countries.
According to Jordan News Agency, Baqaei noted the potential for increased Philippine investments in Jordan, particularly in sectors showing promising growth. He pointed out the significant presence of Filipino workers in Jordan's expatriate workforce as a foundation for deeper economic ties. Baqaei proposed initiatives such as the exchange of trade delegations and showcasing investment opportunities to foster collaboration between Jordanian and Filipino entrepreneurs.
Baqaei further detailed the benefits available to foreign investors in Jordan, with a particular focus on the food industry sector, which presents numerous advantages. Ambassador Wilfredo Santos assured that the Philippine embassy would actively support efforts to enhance trade and investment exchanges between the two nations.
Santos announced that a Philippine delegation is scheduled to visit Jordan in early February to investigate investment opportunities, particularly in the food, trade, industry, and energy sectors. The delegation aims to gain a better understanding of the Jordanian market and explore the possibility of establishing Philippine food factories.
The current trade volume between Jordan and the Philippines stands at $13.6 million, comprising $8.1 million in Jordanian exports and $5.5 million in Philippine imports as of 2023.