Amman, Aug. 16 (Petra) -- Jordanian and Pakistani business chambers have agreed to establish a joint business council as part of a broader push to expand bilateral trade, unlock investment opportunities and build direct partnerships between companies in the two countries.

The Jordan Chamber of Commerce (JCC) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) signed a memorandum of understanding establishing an institutional framework for cooperation across trade, investment, industry and technology.

Signed through an exchange process by JCC President Khalil Haj Tawfiq and FPCCI President Atif Ikram Sheikh, the agreement provides for exchanging information on commercial and investment opportunities, promoting joint ventures, facilitating business delegations and organizing meetings, events and participation in exhibitions.

At the center of the agreement is the creation of the Jordanian-Pakistani Business Council, which will serve as a permanent private-sector platform to identify priority sectors and viable investment and trade opportunities, connect businesses and investors, and follow up on joint projects and initiatives.

Haj Tawfiq said the agreement is intended to translate the two countries' longstanding political and historical relations into stronger economic, commercial and investment partnerships.

He described Pakistan as a large market with substantial industrial and production capacity, while Jordan offers a strategic location, an investment environment and a network of trade agreements that provide access to regional and international markets.

These complementary advantages could support joint ventures extending beyond traditional merchandise trade, he said.

Haj Tawfiq identified fertilizers, phosphate, potash, chemicals, pharmaceuticals, food and agricultural products as sectors with potential for expanding Jordanian exports to Pakistan.

Jordan, meanwhile, could tap Pakistan's capabilities in textiles, food manufacturing and information technology, among other sectors, to develop joint investment and industrial projects.

Food security is another potential area of cooperation. Haj Tawfiq said Pakistan's agricultural and production capacity could help Jordan diversify its food import sources and strengthen the resilience and sustainability of supply chains.

He called for direct, long-term relationships between exporters and importers in both markets to capitalize on these opportunities.

Current bilateral trade remains below the potential of the two economies, Haj Tawfiq said, underscoring the need to intensify private-sector engagement, exchange business delegations, hold specialized sectoral meetings and address barriers that constrain trade and investment flows.

He said the new business council will be a key mechanism for turning the MoU into tangible economic activity by drawing up priority sectors, identifying commercially viable opportunities, linking Jordanian and Pakistani companies directly and following up on projects agreed by both sides.

The chamber views Pakistan both as a promising destination for Jordanian exports and as a strategic economic partner for diversifying imports, strengthening food security and pursuing industrial and technology partnerships, he added.

//Petra// RZ