More than seventy Malaysian businesspeople representing both the public and private sectors have arrived in Jordan last week, as part of continuous efforts to explore potential business opportunities with their Jordanian counterparts.
Headed by the Malaysian Minister of International Trade and Industry Rafidah Aziz, the delegation, the third to visit the Kingdom this year, hopes to strike investment deals through their three-day economic talks.
"To date there is only one manufacturing project specialized in remanufacturing computer peripherals and photocopiers," said the minister on the Jordanian investment in Malaysia.
"We would like to invite more Jordanian companies to invest in Malaysia and to take advantage of the various opportunities," she told more than 150 attendants of the Malaysia-Jordan Business Seminar.
Aziz highlighted areas where bilateral trade could be expanded, such as minerals.
"Malaysia is one of the largest markets for Jordan's phosphate and potash used mainly for fertilizers, thus, Jordan is encouraged to diversify its export products," said the minister.
She also urged Jordanian importers to purchase their products directly from Malaysia and not via a third party in order to reduce additional costs, while establishing and maintaining direct ties.
Aziz noted that Jordanian businessmen can use Malaysia as a base to access the larger ASEAN market, where tariffs will be a minimal 0-5 percent with the full realization of the ASEAN Free Trade Area (AFTA) in 2003.
She also talked about products which could be imported to the Kingdom, such as electrical and electronics, transport equipment, clothes, footwear, iron and steel products.
During the one-day seminar, the minister also expressed her country's willingness to contribute to Jordan's development programs by sharing its expertise in areas related to services.
Those include, said the minister, participating in rehabilitating the country's infrastructure and wastewater treatment facilities and developing the IT, health, tourism and education sectors.
Jordanian exports are concentrated in fertilizers, plastics, paper and pottery, while palm oil and stearin, furniture parts, wood, and TV sets are major imports.
Minister of Trade and Industry Wasif Azar stressed the role of the private sector in enhancing Jordan's trade and luring investments to the Kingdom.
Hamdi Taba, chairman of the Jordanian Business Association, reviewed legislation that was enacted in Jordan, aimed at attracting more ventures to the Kingdom.
The Malaysian manufacturing sector registered a value-added growth of 24.6 percent during the first half of 2000 up from 13.5 percent for the year ended December 31, 1999.
The manufacturing sector's share to total exports amounts to 84.6 percent in 1999.
Jordan was Malaysia's seventh largest trade partner in West Asia, after the UAE, Saudi Arabia, Turkey, Iran, Kuwait and Oman.
Last year, two-way trade totaled $104.2 million, $35.4 million in Jordanian exports and $68.8 million in imports from Malaysia. — ( Jordan Times )
By Rana Awwad
© 2000 Mena Report (www.menareport.com)
