Jordanian investors and business leaders are preparing to expand their presence in the Kurdistan Region. The move follows a high-level visit by the Erbil Chamber of Commerce and Industry. It also marks a new stage in economic cooperation between Erbil and Amman.
Gaylan Haji Saeed, President of the Erbil Chamber of Commerce and Industry, led the delegation. During the visit, the delegation met more than 200 Jordanian industrialists and business leaders. Senior officials also joined the meetings. They included the Iraqi Ambassador to Jordan, the Jordanian Consul General in Erbil, and Jordan’s former Minister of Industry.
Haji Saeed said the talks produced important results. He revealed that Jordanian business leaders will soon visit the Kurdistan Region. They will finalize plans for a Jordan-Kurdistan High Summit that Erbil will host.
In addition, both sides agreed to establish a Jordan-Kurdistan Economic Council. The council will serve as a permanent platform for investors and companies. It will identify investment opportunities and support exports. Moreover, it will strengthen economic cooperation between the two sides.
The Erbil and Amman chambers of commerce also signed a twinning agreement. The agreement will encourage the exchange of information and technical expertise. It will also help businesses increase cross-border trade and investment.
Haji Saeed said the Kurdistan Region’s stability and modern infrastructure continue to attract foreign investors. Over the past seven years, the region has received more than $22 billion in investments. Foreign capital represents about $5.1 billion, or more than 23 percent of the total.
Furthermore, Investment Law No. 4 of 2006 remains one of the region’s biggest advantages. The law allows 100 percent foreign ownership. It also offers a 10-year tax exemption and customs benefits on machinery and raw materials.
As a result, Jordanian investors increasingly view Erbil as a gateway to the Iraqi market. The planned Economic Council and trade summit are expected to boost investment and create jobs. They are also expected to deepen economic integration between Jordan and the Kurdistan Region.
