PH-Jordan sign USD60.7-M worth of deals

President Rodrigo Roa Duterte is accompanied by Hashemite Kingdom of Jordan King Abdullah bin Al-Hussein upon his arrival at the Al Husseinieh Palace in Amman on September 6, 2018. KING RODRIGUEZ/PRESIDENTIAL PHOTO

USD60.68 million worth of deals was recently signed by Filipino and Jordanian firms.

According to Department of Trade and Industry Secretary Ramon Lopez, these deals are expected to yield economic cooperation between Manila and Amman in the sectors of logistics, mobile-related service solutions, robotics, and information and communications technology.

“This visit is a milestone for both countries, especially in the areas of trade and investments. It is paving the way to attract investments from a non-traditional partner and encourage more businesses from both countries to explore economic opportunities,” Lopez said in a statement on Friday, September 7.

The trade chief also mentioned some companies who want to set up businesses in the country — Nafith International, a logistics planning and operations provider, who is eyeing to locate its regional office in the Philippines, investing some USD50 million; and Universal Labs Ltd., who wants to put up a manufacturing facility for Dead Sea products in the country to be exported in other Asian markets.

President Rodrigo Roa Duterte is accorded foyer honors upon his arrival at the Al Husseinieh Palace in Amman, Hashemite Kingdom of Jordan on September 6, 2018. Accompanying the President is Hashemite Kingdom of Jordan King Abdullah bin Al-Hussein. ALFRED FRIAS/PRESIDENTIAL PHOTO

“We would like to keep the momentum and hype up the interest level of companies to engage and join our growth story. We look forward to this expanded relationship with Jordan that will result in deeper cooperation not only in trade but also on the exchange of best practices on new technologies and business process management,” Lopez said.

President Rodrigo Duterte witnessed the signing of USD82.9-million worth of business agreements between the Philippines and Israel before he set off for Jordan.

President Rodrigo Roa Duterte witnesses as Trade and Industry Secretary Ramon Lopez acknowledges one of the nine Letters of Intent from Jordanian Businessmen during the Business Forum held at the Intercontinental Hotel in Amman, Jordan on September 6, 2018. Joining the President are Executive Secretary Salvador Medialdea, Foreign Affairs Secretary Alan Peter Cayetano, and Ambassador of the Philippines to Jordan Akmad Sakkam. ARCEL VALDERRAMA/  PRESIDENTIAL PHOTO

A total of USD143.58 million worth of business deals from companies in Israel and Jordan was successfully secured by the Philippine delegation during last week’s visit there by Duterte.

Ritchel Mendiola
Ritchel Mendiola

Ritchel Mendiola is a feature writer based in the Philippines. In addition to writing for Balikbayan Magazine, she is a news correspondent for Asian Journal News-Manila.

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