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Jordanian, Iraqi businessmen seek joint trade zone

By JT - Apr 05,2016 - Last updated at Apr 05,2016

AMMAN — Jordan’s exports to Iraq in 2015 stood at $690 million compared to $1.16 billion in 2014, the Jordan News Agency, Petra, reported on Monday. 

During a meeting held on Sunday at the headquarters of the Jordan Chamber of Commerce (JCC), the Jordanian-Iraqi Business Council recommended enhancing economic and commercial cooperation between the two countries.

The council said there are many ways for cooperation in fields of commerce, agriculture and exporting through the Aqaba Port, stressing the importance of opening the Tureibil border crossing to facilitate the flow of Jordanian exports, as goods currently go through Saudi Arabia, Kuwait and then Basra. 

The meeting was headed by JCC President Nael Kabariti and Chairman of the Federation of Iraqi Chambers of Commerce Jaafar Al Hamadani.

The business council discussed establishing a free trade zone between the two countries and activating the executive programme of the memorandum of understanding signed in 2010 between the Jordan Standards and Metrology Organisation and the Central Organisation for Standardisation and Quality Control in Iraq, in order to facilitate exports to both countries. 

The attendees also highlighted the importance of increasing the volume of Iraqi goods imported through the Aqaba Port as well as holding trade exhibitions in both countries and organising an annual Jordanian-Iraqi investment forum, Petra said. 

Kabariti said economic challenges facing the Kingdom in light of the political events in the region require working to support mutual economic interests to increase commercial exchange by removing all obstacles hindering bilateral trade. 

Hamadani said commercial exchange between Jordan and Iraq was “gravely affected” because of military operations and because of the terrorist group Daesh, commending Jordan’s efforts under the leadership of His Majesty King Abdullah in supporting Iraq to combat terrorism.

Hamadani indicated that the value of Iraqi investments in Jordan are around  $15 billion, noting that the Kingdom is also home to more than 22,000 Iraqi merchants.

 

Moreover, Hamadani urged Iraqi investors  and businesspeople to benefit from the investment environment the Kingdom offers and called for facilitating the process of giving visas to Iraqis who visit Jordan for tourism and medical treatment.

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