A ceremony was held on Tuesday to announce the Jordanian Brazilian Business Association (JBBA) as an initiative to strengthen business partnerships in commercial, industrial, agricultural and service fields, and to introduce businesspeople and investors to the economic opportunities available in both countries.

The ceremony, which also coincided with Brazil’s celebration of the 198th anniversary of its independence, was attended by Minister of Industry, Trade and Supply Tareq Hammouri, Brazil’s Ambassador to Jordan Ruy Amaral, the JBBA’s board of directors and Jordanian businesspeople, according to a statement from the organisers.

JBBA President Jamal Fariz said that more efforts will be exerted to strengthen economic and trade cooperation between the two countries, address challenges in the investment field, increase the volume of trade and establish "promising” business networks.

He added that the JBBA will arrange bilateral visits for the business community to discover opportunities of cooperation in various key economic sectors.  

Fariz stressed that through working with the Brazilian embassy, the Arab-Brazilian Chamber of Commerce, the government, and private agencies in Brazil, the JBBA can achieve a great positive impact on the two countries’ economic relations and facilitate communication between the business communities.

Amaral said trade between both countries has been "reasonable”, but still below its full potential.

In 2019, Brazilian exports to Jordan reached $330 million, a record, while the Jordanian exports to Brazil grew by 230 per cent. 

The envoy added that the common task is to promote not only the growth of trade but also its diversification. 

"We’ll also focus on investments and increasing tourism in both directions,” the ambassador added.