|MoPIC and USTDA sign a US310,000 grant |
*The Ministry of Planning and International Cooperation (MoPIC) and the United States Trade and Development Agency (USTDA) signed on Sunday a $310,000 grant under which USDTA is to finance the feasibility study conducted by the Ministry of Energy on the investment of oil shale. The project seeks to develop alternative source of energy from local material such as oil shale, which is abundant in Jordan. The agreement was signed by Minister of Planning and International Cooperation, Suhair Al-Ali, and US Ambassador to Amman, David Hale.
Zu’bi urges private sector to promote trade with Iraq
* Minister of Industry and Trade Sharif Zu’bi urged the private sector in Jordan to strengthen economic relations with Iraq. “ Iraq is a major trade partner to Jordan and is the third importer of Jordanian exports,” Zu’bi said on Saturday at the opening ceremony of the Iraqi-US Chamber of Commerce and Industry branch in Amman. Jordan would support activities of the chamber, which can play a key role in developing trade and economic relations as Jordan seeks to become a center for Iraq’s transit trade, said Zu’bi. Chamber Chairman Fares Al-Mesleh said the chamber is a non-profit and non-governmental organization that aims to develop Iraq’s economic activities and enhance business between Iraqi firms and those around the world. The chamber, which has 10,000 members was established in 2003 and has three branches: One in the United States, the second in Arbil in northern Iraq and the third in Amman.
CAB offers Arab Bank shareholders loans
*In an unprecedented move, Cairo Amman Bank (CAB) announced that it would be offering loans to Arab Bank stockholders to buy more shares during the upcoming offering planned by the Arab Bank. CAB said that this new finance system would offer Arab Bank stocks holders the ability to get a loan with a competitive interest to buy more stocks and mortgage of their Arab Bank stock portfolio.
Algerian products exhibition opens in Amman
*Minister of Industry and Trade Sharif Zu’bi stressed the need to overcome difficulties that may impede trade movement between Jordan and Algeria saying Jordan seeks to have the Algerian market as a springboard for exporting goods to the African countries. Zu’bi made his remarks at the opening ceremony of the Algerian products Exhibition on Monday and in presence of Algerian Trade Minister Al-Hashimi Ja’abub. The organization of the exhibition signals the attention and commitment given by the two countries’ governments to develop trade and investment cooperation, Zu’bi said. On his part, Ja’abub said the exhibition aims to introduce the country’s products as it is moving from government-directed economy to the free market economy.
Ministerial investment conference next month
*Jordan will host on Feb.13 the meetings of the ministerial conference for investment in the Middle East and North of Africa. The two-day conference organized by Organization of Economic Cooperation and Development and hosted by Jordan Investment Board (JIB) seeks to review accomplishment achieved on implementing policies aiming at improving investment environment. JIB Executive Director Maen Nsour said the government heads the steering group for investment program, as a regional initiative focused on the development of general policy frameworks to lure foreign investment.
Sri Lankan Ambassador meets with Iinvestors at HIE
*The Sri Lankan Ambassador in Amman Kathan Marimuttu said on Monday during a meeting, at Irbid’s Chamber of Industry, with investors at Al Hassan Industrial Estate (HIE), that many economic domains must be consolidated with a view to support trade between the two countries, noting that the Sri Lankan government is to sign a free trade agreement with Jordan.