Multisectoral Economic Mission Jordan/Lebanon

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The Arab-Belgian-Luxembourg Chamber of Commerce, together with Hub Brussels, AWEX, and the Luxembourg Chamber of Commerce, organized a Multisectoral Economic Mission to Jordan and Lebanon from 07 to 11 May 2018. No less than 20 Belgian & Luxembourg enterprises joined this Mission which started in Amman, Jordan.

Jordan is an emerging economy oriented towards services, open to foreign trade, and an important gateway to Iraq. Largely liberalized and privatized in the 2000s, Jordan's economic growth is expected to reach 2.5% by 2020. The "Jordan 2025" strategy, published in 2015, is the road map for the next ten years with $ 20 billion in planned investments.

As part of the Mission to Jordan, the organizers paid a visit to the Amman Chamber of Commerce and Industry, Jordan’s oldest and largest chamber of commerce. There, the importance of strengthening bilateral ties between the three countries and exploring new potentialities was highlighted. The attention of the delegation was drawn to the fact that Jordan has a strategic position, especially for business with Iraq and the special economic zone of Aqaba, the only port of Jordan at the crossroad of four countries. The construction of a new convention and exhibition center on the road between Amman and the airport will position Jordan as a destination for business and commerce in the region. It was also noted that a workshop, organized with the support of the delegation, to inform Jordanian companies on the regulations to be respected for exporting to the EU would be welcomed. This workshop could take place in the framework of a visit to Brussels and Luxembourg by a Jordanian delegation end of 2018 or in 2019.

In the framework of this Mission, the Arab-Belgian-Luxembourg Chamber of Commerce arranged a meeting with H.E.M. Yarub Qudah, Jordanian Minister of Industry, Trade and Supply. H.E.M. Qudah reiterated the importance of Jordan's strategic position for the reconstruction of Iraq as it is indeed possible to export from Jordan to Iraq without paying customs duties. Likewise, the logistical airport in Mafraq could be used as a platform.

A lunch with Minister Pierre Gramegna, present in Jordan for the EBRD governor’s meeting, and a reception hosted by H.E.M. Henrik van de Velde, Ambassador of Belgium to Jordan, concluded the visit in Amman.

The next two days were spent in Lebanon and mainly focused on B2B meetings for the participating companies. Mr. Fouad Trad, D.G of Byblos bank and member of the board of directors of the ABLCC, acted as representative of the ABLCC in the Economic Mission to Lebanon.

Opened, french-speaking, and with very active private operators, the Lebanese market is particularly welcoming European products. It constitutes a springboard to the region's markets as well as to Africa. According to Moody's forecasts, GDP in Lebanon is expected to grow by almost 3% in 2018. Lebanon has many strategic advantages, including its geographical proximity to Syria, compared to other countries. 

H.E.M. Alex Lenaerts, Ambassador of Belgium to Lebanon, organized a reception that gathered some 100 local businesspersons.

In both countries, Mrs.Nada Abdulrahim, Belgian Economic and Commercial attaché, organized with care tailor-made business meetings with local companies and institutions for the participating companies.

Participants were impressed by the high-level of innovation and the desire of cooperation of local companies and were highly satisfied with the outcomes of this Economic Mission. Both countries are indeed in search of expertise in diverse sectors: energy, environment, finance, logistics, construction and infrastructure.

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