Jordan-UK trade agreement comes into effect

AMMAN — A trade agreement signed between Jordan and the UK came into effect on Saturday, seeking to ensure ambitious trade cooperation between the two countries, while also securing continued preferential trade for British and Jordanian businesses and consumers helping to boost vital trade and investment.اضافة اعلان

The new “Association Agreement reaffirms the deep interest of both Jordan and the UK to strengthen our longstanding trade and economic relationship,” statement published on the UK government’s website said.

The Jordan-UK Association Agreement was signed on November 5, 2019. 

The total trade on goods and services between the UK and Jordan was worth £561 million in 2020, according to the statement, with the UK expressing intent on expanding the value.

“We have had positive trade agreements and partnerships across a variety of sectors including education, aviation, retail, biometrics and technology,” the UK government added.

Major items imported by Jordan from the UK include general industrial machinery, mechanical power generators, vehicles, medicinal and pharmaceutical products, while Jordanian exports to the UK include mechanical power generators, vegetables, metal ores, clothing and general industrial machinery, according to the statement.

As stated during the London Initiative in 2019, the UK’s priority is to promote investments, growth and jobs for Jordan. “We are working with the Jordanian government to overcome some of the structural issues that prevent greater FDI (foreign direct investment) into Jordan. We are supporting and promoting Jordan’s Public-Private Partnership Unit’s work and the national infrastructure projects that were prioritized by the government of Jordan,” the UK government said.

Welcoming the agreement, the UK’s Minister for Middle East and North Africa, James Cleverly said: “As we celebrate 100 years of UK-Jordan friendship, today’s new UK-Jordan trade agreement is an important step forward for our countries which will provide a boost to British and Jordanian businesses and ensure that friendship continues to grow and flourish.”

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