Iraq is key trade partner to Jordan, says JCC head

iraq jordan
(File photo: Jordan News)
AMMAN — Iraq is an important trade partner and gateway for Jordan's economy, Chairman of the Jordan Chamber of Commerce (JCC) Khalil Haj Tawfiq said, according to the Jordan News Agency, Petra. اضافة اعلان

He added that new rules for joint cooperation are needed to reach economic unity between the two countries.

Removing obstaclesHaj Tawfiq praised the strong and sincere relations, political support, and joint agreements already signed in trade, investment, energy, transportation, and construction between Jordan and Iraq.

Jordanian-Iraqi economic relations have seen a "remarkable" development due to the trade agreements and projects signed between the two nations, he added.

Haj Tawfiq highlighted the need to remove any obstacles that are hindering the progress of the bilateral trade and to expedite the implementation of joint projects, such as the oil pipeline and the industrial estate.

The Jordan-Iraq oil pipeline will extend from Iraq's southern Basra port to the Jordanian port of Aqaba and is expected to transfer crude oil at a capacity of 1 million barrels a day from Basra to Aqaba with a total length of 1,775km.

Preferential treatmentHaj Tawfiq also stressed the importance of increasing joint trade exchange and providing preferential treatment for the products and commodities from both countries in each other's markets.

The official data showed that the trade exchanges between Jordan and Iraq increased to JD707 million during the 11 months of 2022, compared to JD415 million for the same period in 2021.

Jordan desires to expand the "deep-rooted" relations to include agriculture, information technology, and trade exchange, he said, adding that Jordan has advanced expertise in these areas, which can serve as a gateway to Iraq's reconstruction.

The current visit of a large economic delegation from Jordan to Baghdad is significant in increasing trade exchanges and exploring investment and commercial opportunities, he said.

He expressed hope that the visit will contribute to the efforts made by King Abdullah of Jordan and the Iraqi leadership at various levels to strengthen relations.

‘New beginning’The next stage of in the relationship between Jordan and Iraq is expected to be a new beginning based on partnership, with many opportunities for cooperation between the two countries' private sectors, he said.

The Joint Jordanian-Iraqi committee, which is scheduled to meet in Baghdad next Wednesday, according to a JCC statement, will discuss ways to enhance joint trade and investment, follow up on the progress of the economic estate project, and cooperate in fields such as energy, transport, customs, health, food, trade, and industry.

On the sidelines of the committee meetings, a joint business forum will be held to discuss cooperation between the two countries' private sector institutions, business owners and companies.

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