Kuwait’s investment in Jordan crossed $18 billion in 2018

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Kuwait's investment in Jordan crossed $18 billion in 2018

Kuwait’s investment in Jordan crossed $18 billion in 2018

Kuwait’s investment in Jordan amounted to $18 billion last year, according to a senior Kuwaiti Chamber of Commerce official said here on Monday.

The trade volume around Kuwait and Jordan reached 80 million KWD ($264 million), said that the Kuwait Chamber of Commerce and Industry Director-General Hamad al Omar.

Kuwait’s export markets to Jordan increased notably by 23 percent to KWD 30 million around 2016 and 2018, mostly plastics and petrochemicals.

Additionally, Jordan’s Kuwaiti-bound exports leaped by 22 percent to KWD 50 million during the same two years.

Trade agreements on free markets and taxes, concluded in 2001, have boosted and increased investment between the two nations over the last year.

Al Omar’s news was announced on the touchline of a visit by a Jordanian delegation led by the head of the Hashemite Development Fund of Jordan Badia Jamal Al-Fayez.