American Ambassador Promotes Investment in Jordan at London Conference

Special Representative Frank Mermoud making opening remarks at the MEFTA Trade and Investment Conference

American Ambassador to Jordan David Hale praised Jordan’s efforts to improve its investment climate and to serve as a platform for business in the region, at a conference in London to promote trade among several Arab countries. Speaking to an audience of American investors participating in the Middle East Free Trade Area conference on investment, he reported that as a result of growing exports under the Jordan-U.S. Free Trade Agreement, total bilateral trade in 2006 exceeded $2 billion.

Ambassador Hale described the commitment of the U.S. to support Jordan’s transformation into a dynamic, trade-driven, market-oriented economy that reinforced the country’s stability. The Jordanian delegation included His Excellency Deputy Prime Minister and Minister of Finance Ziad Fariz, His Excellency Minister of Industry and Trade Salem Al-Khaza’leh, and Dr. Maen Nsour, Chief Executive Officer of the Jordan Investment Board.

The Middle East Free Trade Area conference on investment was organized by the U.S. Department of State, along with the Kingdoms of Bahrain, Jordan, Morocco and the Sultanate of Oman. These four Arab countries are the first in the region to sign free trade agreements with the United States. The Jordan-U.S. Free Trade Agreement came into effect in December 2001. The Oman-U.S. agreement was signed last year, and is expected to come into force in the coming months.

The MEFTA conference on investment aims to highlight the new business and economic opportunities created by free trade agreements signed with the United States and the nations of the region. Participants at the conference include leading chief executives of U.S. companies, and investors seeking to identify strategic investment opportunities in the Middle East and discuss these opportunities with senior government officials and potential business partners in these markets. Industries represented at the conference include automotive, biotechnology, chemicals, information & communication technology, electronics, financial services, transportation, textiles and venture capital.