Iraq is a major economic partner for Jordan — ACI head

(File photo: Jordan News)
AMMAN — The head of the Jordan and Amman Chambers of Industry (ACI), Fathi Al-Jaghbir, said on Monday that Iraq is a major economic partner for Jordan, due to the existence of large joint projects between the two sides, such as the joint industrial zone and the oil pipeline, Al-Mamlaka TV reported.اضافة اعلان

In a press statement, Jaghbir expressed hope that economic relations between Jordan and Iraq will develop further in the coming period, especially since trade between the two countries only reached JD471 million last year, a figure that does not reflect the close economic and political relationship between the two countries; Jordan’s exports amounted to JD411.9 million, while imports were to the tune of JD59.1 million.

Jaghbir said that the establishment of the joint industrial zone on an area of 809 hectares is a positive and effective step toward strengthening economic relations between the two sides, as the zone will give Iraqi products and industries the opportunity to benefit from the exemptions and advantages guaranteed in the free trade agreements reached by the two countries.

He stressed that Iraq is a vital strategic market for Jordan.

Jaghbir said that the industrial sector pins hope of the current visit of Iraqi Prime Minister Mohammad Al-Sudani to the Kingdom,  expecting it to contribute to an increase in Jordanian exports to Iraq.

He indicated that the opportunities for cooperation between the private sectors in the two countries are great, stressing the expertise on both sides, which should contributes to achieving industrial integration, especially after the establishment of the joint industrial zone.

Jaghbir added that during a Jordanian economic delegation visit to Iraq, earlier this year, an agreement was signed between the Jordanian Chambers of Industry and the Iraqi Business Council to establish an Iraqi-Jordanian businessmen council with the aim of promoting trade between the two countries.

He stressed the importance of partnerships, investment and services, of setting up joint projects between the two countries, encouraging businessmen in both countries to participate in trade fairs and increasing the exchange of visits of economic delegations, saying that Jordanian industrial companies had a considerable participation of in the Baghdad International Fair, which was held this month.

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