Jordan and Sri Lanka discuss enhancing trade and investments
By: Staff Writer
October 08, Colombo (LNW): Sri Lanka and Jordan have recently signed a Memorandum of Understanding (MoU) to establish a Political Consultation Mechanism aimed at expanding cooperation in various areas of mutual interest.
The agreement was formalized on July 10, 2024, in Amman, with the signing carried out by the Sri Lankan Ambassador to Jordan, J.A.D.S. Priyangika Wijegunasekara, and Majed Thaliji Alqatarneh, Secretary General of the Ministry of Foreign Affairs and Expatriates of Jordan.
In parallel with the political MoU, discussions on enhancing trade and investment relations between the two nations were held between the Sri Lankan Ambassador and Mohammad Shoha, Chairman of the Irbid Chamber of Commerce.
Shoha emphasized the significance of boosting trade ties, particularly in the agriculture and commerce sectors. He suggested exploring new investment opportunities that could benefit both nations and encouraged greater private sector involvement in advancing bilateral trade, tourism, and investment.
Shoha also proposed organizing joint exhibitions and delegations to further develop economic ties.
He assured that the Irbid Chamber is committed to supporting import and export operations to enhance the flow of goods and services between Jordan and Sri Lanka, with a particular focus on agricultural, industrial, and handicraft products.
Ambassador Wijegunasekara reiterated Sri Lanka’s dedication to strengthening economic cooperation with Jordan.
Highlighting Sri Lanka’s economic potential, she mentioned that approximately 10,500 Sri Lankan workers are currently employed in Jordan, mainly in the textile, knitting, and domestic sectors. In 2023, Sri Lanka’s exports to Jordan were valued at $88 million, while imports from Jordan stood at $1.98 million.
The ambassador pointed out that Jordanian products like olive oil, Dead Sea salts, and dates align well with the needs of the Sri Lankan market. On the other hand, Sri Lanka’s major exports to Jordan include tea, furniture, and plant-based products, while Jordan exports textiles, fabrics, and iron products to Sri Lanka.
Acknowledging the long-standing relations between the two countries, established in 1965, Wijegunasekara called for enhanced collaboration in trade, economic relations, and skilled labor exchange. She invited Jordanian investors to explore opportunities in Sri Lanka’s Port City in Colombo, citing the favorable business environment in the country.
Additionally, she emphasized the benefits of deploying more skilled Sri Lankan workers to Jordan’s industrial cities, leveraging the existing cooperation in the industrial sector. The ambassador expressed her goal of increasing trade volumes and supporting Jordanian companies in promoting their olive oil and Dead Sea salt products to the Sri Lankan market.
Both nations acknowledged the significant growth in trade exchanges during the first half of 2024 and agreed to organize joint economic activities to deepen their bilateral cooperation in various fields.
