Jordan-China trade volume witnessed 46% increase in 2022

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AMMAN — Chinese Ambassador to Jordan Chen Chuandong on Thursday said that China looks forward to expanding areas of cooperation with Jordan that is currently undergoing a series of comprehensive reforms lead by His Majesty King Abdullah.

His remarks were made during a press conference held at the Chinese embassy in Amman to highlight the outcomes of China’s annual “Two Sessions”, which refer to the plenary meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC).

During the sessions, held between March 4 and March 13, Chinese leader Xi Jinping was re-elected for a third five-year term as president of the People’s Republic of China and as chairman of the Central Military Commission (CMC).

The ambassador stressed that the outcomes of the “Two Sessions”, which included policies and procedures related to enhancing China’s involvement in promoting regional and international peace and development, are strongly related to future prospects of further cooperation between China and Jordan.

He noted that according to the Department of Statistics in Jordan, China is Jordan’s second largest trade partner and its largest source of imports in 2022.

Chinese statistics also show that the trade volume between Jordan and China reached $6.45 billion in 2022, marking a 46 per cent increase compared with 2021, and Jordan’s export to China grew by 75 per cent, according to Chuandong.

He added that direct Chinese investments in various Jordanian sectors doubled in 2022 compared with 2021, reaching $45.39 million, while the value of construction contracts signed between Jordan and China reached $54.6 million.

Jordan’s new investment law has encouraged many Chinese companies to consider promising investment opportunities in the Jordanian market. An example of this is the Jinsheng International Trade Corporation’s ceramic factory, an investment worth $100 million, which was recently inaugurated in Karak Governorate, Chuandong continued.

He also pointed out that China recently announced the resumption of all types of visa applications for Jordanians citizens and the return of outbound tourism from China to Jordan, which will play a role in “promoting cultural exchange between both countries”.

Additionally, Chuandong referenced statements of China’s new premier Li Qiang, stressing its long history of “friendships and partnerships” with countries in the Middle East, strengthened during the 2022 China-Arab States Summit.

He welcomed the outcomes of the Aqaba meeting between senior officials of Palestine, Israel, Jordan, Egypt and the US, expressing hope that the reached consensus “will be implemented in real earnest”.

Moreover, Chuandongnoted China’s commitment to supporting the sovereignty of countries in the Middle East in addition to promoting “dialogue and consultation” to arrive at solutions for the region’s political issues.

He also highlighted key takeaways from the Chinese government report, outlining its work during the past five years.

In 2022, China’s GDP increased to 121 trillion Yuan, roughly $18 trillion, registering an annual growth rate of 5.2 per cent over the past five years, according to Chuandong.