https://www.engineeringnews.co.za

Jordan is ‘teeming’ with SA investment prospects, says Davies

Trade and Industry Minister Dr Rob Davies

Trade and Industry Minister Dr Rob Davies

Photo by Duane Daws

13th February 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

A fact-finding mission to Jordan by the Department of Trade and Industry (DTI) has revealed that the Middle Eastern country is “teeming” with a range of investment opportunities into which South African companies can tap.

The department said on Thursday that most opportunities were in the infrastructure, renewable energy, pharmaceuticals and information communication technology (ICT) sectors, and were identified during engagements with the Jordanian Chamber of Commerce (JCC), the Aqaba special economic zone and several other strategic government institutions.

Trade and Industry Minister Dr Rob Davies said South Africa enjoyed full diplomatic relations with Jordan.

“Despite these relations, trade between the two countries remains small, with the transport of products and people identified as the biggest obstacle,” he said, adding that the mission had also identified healthcare as a focus of potential bilateral cooperation. 

Davies further noted that the country’s tariffs were competitive, with [import] duties on par with other World Trade Organisation members and no restrictions on imports. 

He added that South African businesses looking to potentially trade with Jordan should opt for joint venture structures, as recommended by the JCC.

“Among the factors that make Jordan an attractive investment destination is the fact that it has a number of free trade agreements that South African companies can take advantage of, including a preferential trade agreement with the European Union, Turkey, Canada, Singapore, the US and the General Arab Free Trade Area. Goods exported from Jordan to these countries enjoy zero tariffs,” Davies said.

The JCC was looking at furthering discussions with South Africa with the aim of eliminating all barriers that had, thus far, kept trading between the two countries at a low.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.072 0.131s - 155pq - 2rq
Subscribe Now