Agreement secures access to Palestinian market for $730 mil worth of Jordanian goods annually

Amman Chambers of Industry
(Photo: Jordan News)

AMMAN — A ministerial minutes-of-meeting was signed between Jordanian and Israeli officials to facilitate access for a list of Jordanian “export-oriented” products to Palestinian markets, this follows relentless Jordanian efforts to expand commerce with Palestine.اضافة اعلان

Minister of Industry, Trade and Supply, Yousef Al-Shamali, said that the agreement, signed at the shores of the Dead Sea, is the fruit of tireless efforts by technical teams from both sides regarding a Jordanian proposal raised in 2018 to increase Jordanian exports to Palestinian markets.
Restrictions imposed by the Paris Economic Protocol, signed between the Palestinian and Israeli side in 1995, set a quota for a list of Jordanian goods that can be exported to Palestinian markets in accordance with Palestinian customs, procedures, and standards.

Shamali said that recent discussions culminated in an agreement on a list of new Jordanian goods that will enjoy preferential treatment to access the Palestinian market, valued at $730 million annually, adding that the deal serves the interests of the Jordanian and Palestinian private sectors.

According to the agreement, 425 Jordanian goods, with an annual value of about $500 million, will enjoy duty-free access to the Palestinian market, provided they conform to Palestinian technical specifications and technical requirements.
Similarly, 329 Jordanian goods, with an annual value of about $230 million, will also be exempt from customs duties when exported to the Palestinian market, provided that they meet Israeli specifications and technical requirements.

The minister emphasized that these new arrangements will not affect the provisions and arrangements applicable to the imports of the Palestinian side as stipulated in the Paris Economic Protocol.
The minister said that this agreement is part of nonstop coordination between the Jordan and Palestine governments to enhance bilateral cooperation in trade and investment.

Technical teams studied all possible scenarios and alternatives to come up with a consensual solution that takes into account the interests of all stakeholders. The importance of supporting the Palestinian economy and enhancing its trade capabilities was taken into account, as was facilitating access for Jordanian goods to Palestinian markets by removing the barriers that limit exports flow.

Shamali said that these arrangements are a new push towards long-term commercial partnerships between the private sectors in Jordan and Palestine, which will benefit the two economies, urging the Jordanian private sector to reach out more to the Palestinian private sector to achieve the hoped for benefit from the agreement.

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