Kuwait says trade with Jordan hit USD 264 mln in ’18

KUWAIT, Kuwait’s bilateral trade with Jordan came to KD 80 million (USD 264 million) last year, its chamber of commerce said on Monday, amid a visit by a sizable Jordanian trade delegation.

In 2018, total Kuwaiti investments in Amman stood at USD 18 billion, according to Kuwait Chamber of Commerce and Industry’s deputy director general Hamad Al-Omar, who cited a number of pivotal deals that helped buoy bilateral investment.

Kuwaiti exports to the Hashemite Kingdom had grown by 23 percent in the last two years (2016-2018), Al-Omar revealed, putting the current figure at KD 30 million (USD 98 million).

Conversely, Jordan’s exports to Kuwait have also risen, reaching KD 50 million (USD 166 million), proving that both countries share solid bilateral relations, he added.

Jamal Al-Fayez, who heads the Hashemite Fund for the Development of Jordan Badia, told reporters that Amman aims to lure much needed foreign investment, an endeavor likely to succeed given the country’s strategic location.

Source: Kuwait News Agency