Amman, Nov. 9 (Petra) -- Jordan and Barbados are exploring new trade and investment partnerships that could give Jordanian manufacturers greater access to Caribbean and Latin American markets while positioning the Kingdom as a gateway for Barbadian businesses entering the Middle East.
Speaking at the Jordanian-Barbadian Business Forum, held at the Amman Chamber of Industry, Barbados Prime Minister Mia Amor Mottley said her government would examine the possibility of signing agreements with Jordan on double taxation avoidance and investment protection and promotion.
The proposed agreements would help establish a more predictable regulatory environment for investors and support stronger commercial ties between the two countries, she said.
Mottley identified pharmaceuticals, medical devices, education, engineering, tourism, the blue economy, defense and security as promising areas for cooperation.
She said Barbados could provide Jordanian businesses with access to a regional single market comprising 13 countries, as well as markets covered by trade agreements with the Dominican Republic, Costa Rica, Colombia and other countries.
Barbados' commercial ties with the United States and Canada could also create opportunities for Jordanian companies seeking to expand manufacturing and investment operations in the Americas, she added.
Mottley stressed that improved logistics connections would be essential to developing bilateral trade, particularly as global supply chains shift toward greater resilience and reduced exposure to disruptions.
She expressed hope that Jordan would serve as a regional business hub for Barbados in the Middle East, while Barbados would provide Jordanian companies with a platform for expansion across the Americas.
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said the Kingdom's diversified manufacturing sector offers considerable potential for cooperation, particularly in pharmaceuticals, food processing, chemicals, fertilizers and engineering.
Jordanian industrial products currently reach more than 150 markets worldwide, Jaghbir said, highlighting the sector's competitiveness and compliance with international standards.
He called for closer cooperation between business organizations in both countries through trade missions, exhibitions and direct business contacts to translate emerging opportunities into commercial agreements and long-term partnerships.
The pharmaceutical industry featured prominently in the discussions, with Jordan Food and Drug Administration (JFDA) Director General Rana Obeidat outlining the sector's manufacturing and export capabilities.
Obeidat said Jordan has 9,566 registered pharmaceutical products, including 4,963 locally manufactured medicines, representing 51.9 percent of the total, compared with 4,603 imported products.
She added that approximately 80 percent of locally manufactured pharmaceuticals are destined for export markets.
The Kingdom has 120 pharmaceutical production lines and 24 factories manufacturing medicines and pharmaceutical and natural products, she said.
Jordan's pharmaceutical exports reached JD668.7 million, exceeding imports of JD485.5 million, according to Obeidat.
She also highlighted the JFDA's regulatory role in overseeing pharmaceuticals, cosmetics, medical devices and supplies, food and tobacco.
Mottley praised Jordan's pharmaceutical regulatory framework, saying Barbados is undertaking legislative reforms to strengthen oversight of pharmaceutical and medical device manufacturing.
Fadi Atrash, representative of the therapeutic industries and medical supplies sector at the Jordan Chamber of Industry, said opportunities for cooperation include sterile injectable medicines, eye drops, medical supplies, nutritional supplements, animal health products and Dead Sea wellness products.
He said Jordan's pharmaceutical registration system and Good Manufacturing Practice standards could facilitate joint manufacturing, technology transfer and licensing agreements.
Atrash also pointed to opportunities to supply Dead Sea wellness products to hotels and spas in Barbados.
Under Jordan's Economic Modernization Vision, the therapeutic industries sector aims to increase exports to $2.96 billion by 2033 and expand employment from 10,000 to 16,000 workers, he said.
He added that nearly half of the sector's 11 development initiatives have been completed, as efforts continue to expand production capacity, strengthen exports and attract long-term industrial partnerships.
//Petra// RZ
