12 local companies alone export to EU under rules of origin agreement

Ministry of Industry, Trade, and Supply. (Photo: Jordan News)
AMMAN — Almost six years after the Agreement on the Simplification of the Rules of Origin entered into force, only 12 Jordanian companies were able to export their products to the EU, according to data issued by the Ministry of Industry, Trade, and Supply, Al-Ghad News reported.اضافة اعلان

Seventeen manufacturers had obtained authorization to export to EU countries, but only 12 made it to the EU market through this agreement.

The total value of exports of these factories over the past six years reached 165 million euros; their product reached markets in Cyprus, Hungary, Belgium, the Netherlands, Spain, France, and Sweden.

Exporting factories produce metal, plastic, detergent, ready-to-wear clothes, wires, cables, and electrical appliances.

At the end of year 2018, the EU announced that the terms of the agreement, which was signed by Jordan and the EU and entered into force in 2016, will be renegotiated so that all factories in the Kingdom will benefit from it. The agreement was also extended to 2030, instead of 2026.

The latest figures show that during the first 11 months of last year, the value of national exports declined by 30 percent, to JD176.3 million, compared to JD135.8 million in the same period of the year before.

Read more Business