AMMAN — His Majesty
King Abdullah on Sunday commended
the role of the trade sector in the national economy’s growth and job creation,
as it complements other sectors, especially the industrial sector, according to
a Royal Court statement.
اضافة اعلان
At a meeting with representatives from the trade sector at
Al-Husseiniya Palace, King Abdullah pointed to economic reform efforts to
facilitate doing of business through the development of trade-related
legislation and procedures to increase competitiveness.
During the meeting, attended by HRH
Crown Prince Hussein,
His Majesty stressed the importance of the trade sector in securing the
strategic stockpile of basic commodities during the COVID-19 pandemic to ensure
food security, noting an opportunity to put Jordan on the food security map, in
coordination with a number of neighboring and friendly countries.
For his part, Prime Minister Bisher Al-Khasawneh said the
Cabinet has revamped customs tariff regulations to include only four
categories, a step that will positively affect the trade sector and enhance
consumers’ purchasing power.
The customs tariff will be decreased to 5 percent on most
imports that are not locally available, according to
Khasawneh, who added that
a number of economic establishments now benefit from the unified licensing
measures that process applications in one day instead of 15 days.
The prime minister said the labor and environment ministries
are working on developing an inspection system that will include nine different
oversight entities, in order to unify inspection efforts and reduce overlap.
He added that the trade sector employs nearly 500,000
workers, making up around 40 per cent of the working force in Jordan.
Prime Minister Khasawneh stressed that the private sector is
a key partner in economic development, creating jobs, and enhancing competiveness,
saying that the government aims to cooperate with the sector.
Praising the government’s recent decision to restructure
customs tariffs, reducing duties on many goods and limiting tariff categories
to four instead of 11, the attendees highlighted the importance of teamwork
between the government and the private sector.
Attendees said economic reforms, which include reducing
customs duties and unifying procedures at border crossings under the umbrella
of the Jordan Customs Department, will streamline procedures, underscoring the
need for consistent regulations to further reassure investors.
Speakers at the meeting noted that the trade sector is the
largest provider of employment and the biggest contributor to the gross
domestic product.
They urged the government to adopt special legislation to
support start-ups and small businesses and protect family-owned companies,
calling for a partnership between the
Central Bank of Jordan and currency
exchange businesses, and stressing the need to regulate online marketing and
seasonal sale periods.
Director of the Office of His Majesty
Jafar Hassan, Finance
Minister Mohamad Al-Ississ, and Minister of Industry, Trade, and Supply Yousef
Shamali attended the meeting.
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