The Jordanian-Egyptian Business Council concluded its 22nd session between the Jordanian Businessmen Association (JBA) and the Egyptian Businessmen Association (EBA) in Cairo on Monday, on sidelines of holding the Joint Higher Jordanian-Egyptian Committee’s 30th session.
JBA’s Vice President Muhammad Balbisi stressed the promising opportunities of the economic partnership between Jordan and Egypt, indicating that investment and commercial cooperation has great importance to Jordan, namely due to quality features of the Egyptian market.
He said Jordan and Egypt are connected through joint bilateral and regional agreements, top of which are the Greater Arab Free Trade Agreement, which includes many Arab countries, the Agadir Agreement, the Bilateral Free Trade Agreement, in addition to agreements and protocols in fields of energy, agriculture, customs, housing, international cooperation and more.
He noted that the commercial flow between Jordan and Egypt is facing many obstacles, such as the pre-registration of Jordanian products entering Egypt and other complicated procedures, especially in foodstuffs and drug industries, putting a financial burden on the exporter and a potential delay of 60 days in Alexandria’s port.
For his part, EBA’s Chairman Ali Eissa said Jordanian-Egyptian Business Council, the first joint Arab council established in 1985, has discovered through its 22 sessions many joint investment opportunities, noting that the pandemic had delayed many investment decisions for both sides.
