AMMAN — Despite a
Free Trade Agreement (FTA) between Jordan and Canada that was signed in 2009 and entered
into force in October 2012, the two countries' trade exchange has failed to
meet shared goals, the Jordan News Agency, Petra, reported.
اضافة اعلان
By accelerating trade delegation exchanges,
increasing efforts to market Jordanian exports, services, and agricultural
products, hosting exhibitions to promote travel destinations, and expanding
investment opportunities, the two countries hope to take
advantage of the FTA in 2023.
In 2022, Jordan and Canada traded a total
of JD116 million worth of goods and services, with the Kingdom’s exports,
valued at JD80 million, exceeding imports at around JD36 million.
Jordan's exports to Canada included
textiles, machinery, electrical equipment, food sector products, and plant
products, among others. In contrast, the majority of the
Kingdom's imports from Canada were plant-based goods, machinery for the transportation industry, goods
for the food industry, goods for the chemical industry and related industries,
and pharmaceuticals.
This failure to benefit from the FTA is “despite the fact that Canada is one of the top producing and consuming nations with sizable Arab and Muslim populations"
‘Failure to utilize the FTA’Khalil Al-Hajj Tawfiq, chairman of the
Jordan Chamber of Commerce, told Petra on Sunday that the limited economic
exchange between Jordan and Canada is due to the public and private sectors'
“failure to utilize the FTA”.
This failure to benefit from the FTA is
“despite the fact that Canada is one of the top producing and consuming nations
with sizable Arab and Muslim populations", he added.
Market analysisTawfiq emphasized the need for a realistic analysis
that takes into account the goods used by Canadian citizens, which are, under
the FTA, exempted from customs, noting that the study must be offered to
Jordanian investors who are prepared to expand to international markets.
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