Jordan-US FTA to pass through congress this week
The long-awaited US-Jordan Free Trade Agreement (FTA) is expected to get the approval of the US Congress this week, said on Friday, July 27, Jordan’s ambassador to Washington, Marwan Muashir, Quoted by Jordan Times. The FTA will then pass on to the Senate for final endorsement. If approved by the US Congress, the kingdom would become the fourth country, after Canada, Mexico and Israel, to sign an FTA with the US.
The months-long delay is attributed to concerns raised in the US regarding the FTA being the first time that an international agreement includes provisions for protecting labor and environmental standards.
The Jordan FTA pact, concluded during the Clinton administration in October 2000, is designed to phase out all tariff barriers for goods traded between the US and Jordan over a 10-year period. “The FTA would boost the Jordanian economy, attract foreign investment, help ease unemployment and increase Jordanian exports to the US,” asserted Muashir.
A conference on the Jordan-US Free Trade Agreement (FTA) is scheduled to take place in Amman, September 12-13, expecting to attendance of more than 500 businessmen, investors and officials from 12 countries. Organized by the non-profit Jordanian-American Business Association (JABA), established in 1999, the conference seeks to enhance local and international awareness of the agreement and the opportunities it is set to create. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)