Minutes Of the Fourth Meeting of the Joint Russian -Jordanian Business Council

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Российско-Иорданский Деловой Совет

RUSSIAN-JORDANIAN BUSINESS COUNCIL

Minutes

Of the Fourth Meeting of the Joint Russian -Jordanian Business Council

Amman – Wednesday 24\3\2010

The Joint Russian-Jordanian Business Council held their Fourth Meeting in Amman on 24\3\2010 within the framework of the “Russia Expo 2010″ organized in Amman-Holiday Inn Hotel during the period 24-26\3\2010 under the Chairmanship of His Excellency Senator Na’el Al Kabariti, Chairman of Jordan Chamber of Commerce, His Excellency Dr. Hatem Halawani, Chairman of Jordan Chamber of Industry, Mr. Novitsky, Chairman of Russian-Jordanian Business Council, the Russian Part; in the presence of a number of private sector representatives on both sides.

Senator Na’el Al Kabariti welcomed all participants and guests of Expo-Russia Jordan – affirming the importance of this Expo in improving the trade relations between the two countries, and how it will provide cooperation opportunities, joint promotion and marketing, and boosting collaboration between businessmen and the private sector representatives of both countries. He also emphasized that the Joint Russian-Jordanian Business Council meeting will provide a strong motive for strengthening and consolidating relations between the two friendly countries. Jordan and Russia have always maintained very strong friendly relations for many years in all fields. These relations have been reinforced in the past few years by virtue of the efforts exerted by His Majesty King Abdullah II, in supporting the sustainability initiatives as well as other initiatives that help the country march towards a bright future and to make our country a leading destination economically, and an international business hub.

Senator Al Kabariti affirmed that within the framework of seeking to carry out His Majesty’s directives, Jordan Chamber of Commerce is committed to conserving resources, implementing best practices and reinforcing strategic objectives of creating a favorable business environment and supporting the development of business in Jordan, pointing out that these efforts on the part of Jordan Chamber of Commerce will be ongoing so that the bilateral relations are always enhanced and enriched between Jordan and Russia.

Senator Al Kabariti also emphasized The role of the Jordanian Russian Business Council in strengthening and widening the trade and economic, scientific and technological relations between Jordanian and Russian enterprises and companies, in order to establish closer contacts between businessmen, as well as to create joint investment companies which will benefit from the many advantages available in the Kingdom in light of available security and stability, infrastructure facilities, financial and taxation services, exemptions and incentives, along with Free Zones, Development Areas, and Free Trade Agreements with the major countries around the world.

On his part Dr. Hatem Halawani emphasized the importance of this meeting in terms of improving relations between the two countries in the technological, production, training, standards and measurements and cooperation fields in joint promotion and marketing, and exchanging industrial production inputs. Dr. Halwani stressed the importance of increasing the exchange of industrial products, and called for boosting cooperation between businessmen and private sector representatives in the two countries through activating the role of the Russian-Jordanian Business Council and holding meetings periodically for this Council owing to the opportunities which it will provide for improving the trade and investment relations between the two countries.

On his part, Mr. Novitsky, Chairman of the Russian side at the Russian-Jordanian Business Council emphasized that this Council’s meeting will maximize and enhance the economic, trade, and investment relations between the two friendly countries. This Council will also create proper mechanisms for consolidating relations and setting up bridges of cooperation between businessmen, investors, and companies in the two friendly countries, and will lead to increasing the volume of trade exchange.

On His part, His Excellency: Russian Ambassador in Amman pointed out that this Council will constitute a solid element for establishing relations between the private sector companies, businessmen, and in situations in the two countries. Both of the Russian Exhibition and the Russian-Jordanian Economic Forum will provide the businessmen with an opportunity to know each other and to find out more about the Jordanian economy and products on the ground along with import and export potentials. The ambassador expressed his thanks to the Chambers of Commerce and Industry in Jordan for the important steps they have taken towards bringing these activities to a successful conclusion.

After reviewing the methods and fields of cooperation, investment, partnership, and trade exchange between the two friendly countries, the two sides reached the following agreement:

First: In the field of bilateral trade

• Discussing the means of increasing the volume of bilateral trade and the possibility of expanding Russia’s imports of Jordanian products, particularly the medicines which enjoy an internationally distinguished position.
• Launching cooperation and coordination between the two sides so that the private sector will play a role in signing a free trade agreement between Jordan and Russia.
• Facilitating the goods transport operations between the two countries.

Second: In the field of investment

• Conducting a serious discussion of the investment opportunities available in both countries, exploring the prevalent investment climate along with the incentives, opportunities, and potentials, and holding further meetings between the businessmen and investors of the two countries.
• Inviting the  businessmen  of Russia to  benefit  from the  investment opportunities   in   Jordan,   especially   companies   currently   open   for investment and privatization along with the projects in the Aqaba Special Economic Zone Area (ASEZA) and the economic development areas in Mafraq, Ma’an and Irbid.
• Calling on the official authorities of Russia to facilitate establishment of Jordanian investments in the field of pharmaceutical, contracting, and building industries, and to discuss possibilities for signing investment encouragement and protection and other agreements.

Third: In the field of industry

• Discussing the prospects for industrial cooperation, adopting technology, exchanging   information   related   to   industrial   goods   and   products, informing importers in both countries of such goods and products, and exploring the two markets, needs for those goods and services.
• Discussing information on the raw materials available for industry in both countries for benefiting from them in the manufacturing processes.
• Discussing   the   possibilities   for   participating   in   the   international exhibitions specialized in the industrial products in the two countries.

• Jordan’s participation in the Russian-Arab Exhibition to be held in June this year in Moscow.

Fourth: Joint Council’s role

• Reaching agreement on periodical meetings to be held for the Joint Russia- Jordanian Business Council in both of Russia and Jordan in order to continue with the process of communication related to the different common issues, and consolidate links between the business communities, economic institution representatives, and investors in the two countries.
• Role played by the Council  in  organizing the  trade  and  investment delegations visits and expanding the two sides, participation in the economic institutions, conferences, and exhibitions in the two countries.
• Emphasizing the Council’s role in terms of introducing the investment opportunities and potentials in the two countries, exchanging information on the laws, trade movement, industrial production, and export and exchange bulletins and periodicals issued by the parties to the Council including the Chambers of Commerce and Industry.
• An agreement has been reached to hold the forthcoming meeting for the Joint Russian-Jordanian Business Council on the sidelines of the Russian-Arab Council meetings   next   June   in   Moscow   to   follow-up   on implementing the recommendations of this meeting.

Issued in Amman on Wednesday 24/3/2010