Signing of a “Letter of Intent” between Amman and Kuala Lumpur Chambers of Commerce

Enhancing Economic Cooperation between Jordan and Malaysia
Signing of a “Letter of Intent” between Amman and Kuala Lumpur Chambers of Commerce

Amman – On the sidelines of a virtual seminar, the Amman Chamber of Commerce and the Kuala Lumpur Chamber of Commerce signed a “Letter of Intent - LoI” to enhance economic cooperation between Jordan and Malaysia.

According to a statement issued by the Amman Chamber of Commerce on Thursday, the Letter of Intent was signed by Nabil Al-Khatib, First Vice Chairman of the Amman Chamber of Commerce, and Ahmad Hussein Thajudeen, President of the Kuala Lumpur Chamber of Commerce.

The Webinar, organized by the Amman Chamber in cooperation with the Malaysian Embassy in Jordan, was attended by representatives of the public and private sectors from both countries in the fields of pharmaceuticals and healthcare, tourism, food, energy and Renewable energy, and the Jordanian Ministry of Investment.

During the Webinar, which was attended by Malaysia’s Ambassador to Jordan, Mohamed Nasri bin Abdul Rahman, Al-Khatib emphasized the need to establish a Jordanian–Malaysian Business Council to boost trade relations, facilitate investment flows by overcoming the challenges facing businesspeople, and encourage joint ventures.

He pointed out that Jordan offers an attractive and safe investment environment, supported by modern legislation and competitive advantages under the Economic Modernization Vision. He invited Malaysian businesspeople to explore opportunities in Jordan, stressing that the Amman Chamber is ready to provide the necessary support to strengthen partnerships with their Jordanian counterparts.

Al-Khatib also highlighted the Jordanian commercial sector’s interest in increasing imports of Malaysian products, while expanding Jordan’s exports of pharmaceuticals, fertilizers, and agricultural and food products to Malaysia. He stressed the importance of holding sector-specific meetings in chemicals, jewelry, cosmetics, and electronics.

For his part, Ambassador bin Abdul Rahman stated that the signing of the Letter of Intent reflects the two countries’ commitment to strengthening economic cooperation and exploring new opportunities in trade and investment. He noted that bilateral trade between Malaysia and Jordan grew by 29.4% over the past five years.

Meanwhile, Thajudeen emphasized the importance of cooperation with Jordan to open new horizons for trade exchange and knowledge-sharing between the business communities of both countries.

Bahjat Hamdan, Second Vice Chairman of Amman Chamber of Commerce, reviewed Jordan’s diverse tourism assets, particularly religious, educational, and medical tourism. He called for partnership programs with Malaysian institutions in these fields and for the activation of the “Umrah Plus” program to attract Malaysian pilgrims.

Hamdan further emphasized the importance of strengthening cooperation between tourism companies in both countries through joint programs and regular virtual meetings. He also stressed the need for promotional tourism campaigns that leverage Jordan’s religious, cultural, and natural assets, in addition to utilizing international tourism fairs to expand cooperation.

Engineer Tamara Kabar, Head of Sectoral Investment Attraction at the Ministry of Investment, delivered a detailed presentation on priority sectors in the National Investment Strategy, highlighting the competitive advantages offered by the Ministry to investors, reflecting Jordan’s attractive investment environment. She noted that cooperation with Malaysia presents a strategic opportunity to enhance economic relations and expand joint investments that contribute to sustainable development in both countries.

Dr. Hanan Sboul, Secretary-General of the Jordanian Association of Pharmaceutical Manufacturers, highlighted the vast opportunities for cooperation with Malaysia in advanced fields. She called for bilateral meetings to strengthen partnerships, positioning Jordan as a regional hub and Malaysia as a gateway to Southeast Asia. She noted that Jordan’s pharmaceutical sector is a high-value industry and a priority under the Economic Modernization Vision, with 30 manufacturing sites exporting 75% of production to around 80 countries, amounting to USD 862 million in 2024.

From the private food sector, Ahmad Al-Khalili, representing Abu Odeh Brothers Company, underlined the importance of trade partnerships between Jordan and Malaysia. He pointed out that palm oil and food products accounted for around 27% of bilateral trade in 2024, reflecting the vital role of the food sector. He noted that food trade exceeded USD 50 million, supported by more than 3,000 food companies in Jordan, and called for greater cooperation in halal foods and leveraging Jordan’s role as a gateway to regional markets through partnerships and joint projects.

Eng. Hanna Zaghloul, Chairman of the Board of Kawar Energy, representing the renewable energy sector, emphasized that Jordan is regionally pioneering in its shift toward renewable energy. Renewables contributed more than 27% of total electricity generation in 2024, with plans to raise this share to 31% by 2030. He pointed out that the private sector implemented more than 90% of renewable energy projects, with investments exceeding USD 4.5 billion. He called for boosting investments in energy storage, upgrading infrastructure, expanding regional interconnection, and accelerating green hydrogen and electric transport projects to achieve developmental and climate goals.

Mohammad Al-Qasem, Chairman of the Tourism and Hospitality Skills Council, presented potential areas of cooperation between Jordan and Malaysia in training and qualifying tourism professionals. He stressed the importance of exchanging expertise and building partnerships in tourism education and hospitality to improve workforce efficiency and develop services in line with international standards.

Zaidi Idris, Deputy Director of the Malaysian Investment Development Authority, highlighted Malaysia’s promising sectors and procedures that facilitate investment attraction. Meanwhile, Malaysian Trade Commissioner Yazrin Mahlan emphasized the importance of enhancing bilateral trade relations and opening new markets for the private sector.

It is noteworthy that the volume of trade exchange between the two countries during the first half of 2025 amounted to about JOD 77 million.