Amman, Nov. 15 (Petra) -- The growing economic and strategic partnership between Jordan and the European Union offers an opportunity to accelerate the Economic Modernization Vision, attract investment and expand private sector activity, according to Wael Shuqairat, head of the Jordan Chamber of Commerce's management committee.

Shuqairat told the Jordan News Agency (Petra) on Sunday that stronger cooperation with the EU could stimulate trade, services and investment, support economic growth and create more jobs for Jordanians.

He said Jordan, under the leadership of His Majesty King Abdullah II, has established strong strategic relations with the EU based on mutual trust and shared interests, providing a foundation for deeper cooperation in investment, trade, technology, transport and tourism.

The Jordan–EU Investment Conference, scheduled for Thursday at the Dead Sea under the patronage of His Majesty King Abdullah II, with European Commission President Ursula von der Leyen participating, presents an opportunity to build on these ties and attract long-term investment partnerships, he added.

Shuqairat said the conference's significance extends beyond the investment opportunities on offer, valued at more than $15 billion, to its potential to establish direct partnerships between Jordanian and European businesses, launch joint ventures, stimulate markets and strengthen economic competitiveness.

He stressed that the conference aligns with the Economic Modernization Vision's objectives of improving the business environment, increasing investment, expanding private sector participation and generating sustainable growth and employment.

Achieving these goals, he said, requires building on economic, legislative and administrative reforms, simplifying procedures, advancing digital transformation and reducing the cost of doing business to attract domestic and foreign investment.

Expanding Investment Beyond the Capital Shuqairat emphasized the importance of ensuring that investment partnerships benefit businesses and communities across Jordan's governorates, rather than remaining concentrated in major economic centers.

He said the commercial and services sectors play a central role in economic activity through their links to other industries, supply chains, employment and consumer markets, making their participation in future investment projects essential.

As the umbrella organization for chambers of commerce nationwide, the Jordan Chamber of Commerce seeks to broaden access to investment opportunities and ensure that commercial and services businesses benefit from international partnerships, he added.

Shuqairat said chambers of commerce in the governorates are well positioned to identify local investment opportunities, understand business challenges and connect European investors with promising projects.

Directing investment toward the governorates could generate new economic activity and increase demand for transport, warehousing, distribution, trade, professional services and tourism, while helping reduce disparities in economic opportunities between regions.

He noted that major investment projects also create opportunities for surrounding businesses through procurement, transportation, marketing, maintenance and other support services.

Shuqairat called for investment priorities to reflect each governorate's comparative advantages and development needs, supporting balanced and sustainable economic growth.

Promising Opportunities in Trade and Services Shuqairat identified e-commerce, digital services, information technology, tourism, transport, logistics, warehousing, distribution, and financial and professional services as promising areas for expanded Jordanian-European cooperation.

He said Jordan's strategic location, network of trade agreements, institutional stability and skilled workforce could strengthen its position as a regional business and services hub and a gateway for European companies seeking access to regional markets.

Partnerships with European businesses in logistics, supply chain management and digital transformation could improve commercial efficiency, reduce operating costs, enhance consumer services and help Jordanian companies enter new markets.

He also highlighted opportunities to expand cooperation with European tourism and travel companies, promote Jordanian destinations and develop specialized tourism services, generating additional activity for businesses across the governorates.

Shuqairat said trade in services deserves greater attention, citing European Commission figures showing that services trade between Jordan and the EU reached approximately 1.8 billion euros in 2024.

He said this provides a foundation for expanding Jordanian companies' presence in European markets and strengthening links between investment, trade and services.

Shuqairat also highlighted the EU's approximately 3 billion-euro financial and investment package for 2025-2027, describing it as an important framework for financing economic projects, improving infrastructure and strengthening the business environment.

He stressed that maximizing these opportunities requires closer coordination between the government, private sector institutions and chambers of commerce to translate economic discussions and agreements into viable projects with measurable, lasting results.

The Jordan Chamber of Commerce is working to strengthen the role of chambers in the governorates in identifying investment opportunities, engaging international partners and communicating the needs of commercial and services businesses to relevant authorities, he said.

Shuqairat added that Jordanian businesses have the expertise and capabilities to participate in new investment projects, while closer cooperation with European companies could facilitate technology and knowledge transfer, skills development, innovation and entrepreneurship.

He expressed hope that the conference would produce investments and partnerships that benefit all governorates, strengthen businesses' ability to grow and compete, stimulate local markets and create sustainable jobs.

//Petra// AJ