His Majesty King Abdullah met with several business leaders and members of the Arab Mexican Chamber of Industry and Commerce on Thursday, emphasising different opportunities that Jordan and Mexico can tap to boost economic cooperation.

King Abdullah said Jordan has taken a number of strides to strengthen its national economy.

The Kingdom endorsed several pieces of legislation deemed vital to streamline and boost economic activities and ensure comprehensive development.

Despite the global economic crisis and current regional conditions, the Kingdom has been able to maintain its excellent reputation in terms of security and stability, going hand-in-hand with its implementation of development plans, His Majetsy said.

The King cited several success stories where Jordan managed to transform challenges into opportunities, thus boosting its investment environment.

His Majesty also highlighted the role of the private sector in fostering the business climate in Jordan and providing job opportunities, especially for the younger generation.

The meeting will strengthen relations, not only between Jordan and Mexico, but also between the Arab world and Latin America, the King told attendees, emphasising Jordan’s strategic location.

In light of the various bilateral and international agreements signed by the Kingdom, the Jordanian market represents a gateway for Mexico to reach more than one billion consumers, His Majesty said, pointing out that this is in the best interest of investors and businessmen who can benefit from these advantages.

Jordan is interested in attracting investments in the mining, tourism, transport, IT, energy and water sectors, the King said, adding that Jordan facilitates investments in various economic and commercial fields.

His Majesty invited Mexican companies and businessmen to visit Jordan and become further acquainted with investment opportunities available in the country to boost partnership with their Jordanian counterparts.

The King voiced hope the meeting would maximise the partnership with Mexico, one of the world’s largest economies.

His Majesty pointed out that the opening of a Jordanian embassy in Mexico, which is scheduled at the end of this year, will help maintain cooperation between the business communities in both countries and facilitate commercial and investment cooperation.

The King drew attention to the similarities between Jordan and Mexico, noting that the two countries are capable of achieving economic integration.

As Jordan represents a gateway for Mexican products to Middle East markets, Mexico is seen as a gateway for Jordan to other Latin American countries.

Mexican businessmen and leading economic figures expressed their appreciation of His Majesty’s support for investments from Latin America and Mexico in particular.

Commending the Jordanian model and the opportunities that it can provide due to its stability, they expressed their readiness through various economic institutions and private sector entities to cooperate with Jordan in the fields of research and development, and expertise exchange, especially in the industry, transport and IT sectors.

They noted that the two countries will mark 40 years since the establishment of diplomatic relations by strengthening economic and investment cooperation and increasing the joint trade volume.

In 2013, the bilateral trade volume reached $61 million, up from around $4 million in 2012.

Mexico is the 14th largest economy in the world according to 2012 figures, with a gross domestic product of $1.178 trillion.

The Kingdom’s total exports to Mexico reached JD4 million (around $5.7 million) during the first 10 months of 2013, while Jordan’s imports from the Latin American country over the same period reached JD35.4 million (around $50 million).