Trade between Iraq and Jordan drops dramatically

Published September 20th, 2012 - 11:47 GMT
As trade between the two nations falls dramatically, both nations reaffirm commitments to trade relations, including Iraq using Aqaba port, as Iraq's are overloaded
As trade between the two nations falls dramatically, both nations reaffirm commitments to trade relations, including Iraq using Aqaba port, as Iraq's are overloaded

Trade exchange between Jordan and Iraq declined by 27 per cent during the first half of 2012 compared to the same period last year, Ministry of Industry and Trade Secretary General Maha Ali said on Wednesday.

In remarks during meetings of the 26th session of the Joint Jordanian-Iraqi Committee, which opened on Wednesday, Ali stressed the importance of reaching solutions to the challenges facing trade exchange between the two countries, and to follow up on the implementation of what the two sides agreed upon in the last session.

Emphasising the need to benefit from the opportunities available in the economic and trade agreements signed between the two countries, she called on Iraq to ratify the agreement signed between the two countries in 2009 for establishing a joint free trade zone.

Ali underlined the importance of facilitating procedures for registering pharmaceutical products in Iraq and expressed Jordan’s readiness to provide Iraqi personnel with training in the field of companies’ control, standards and metrology, investment, agriculture, customs and metrology.

Kathem Husseini, adviser at the Iraqi ministry of trade, expressed keenness to cooperate with Jordan and to discuss methods that enable the two sides to enhance cooperation in various fields.

He noted that his country plans to use the Aqaba Port due to the great pressure on the Iraqi ports.

He called on Jordan’s private sector to take part in the mega-projects that Iraq plans to carry out during the coming period.

During this week’s meetings, talks will focus on means to encourage Iraq to benefit from the facilities in the Aqaba Port.

According to the agenda, they will also examine means to boost expertise exchange in the field of competitiveness and to facilitate the flow of Jordanian vegetables to the Iraqi markets.

The agenda also include an article on supporting Jordanian companies which exported goods to the Iraqi public and private sectors before and after 1992.

In the industrial sector, representatives from both countries will also examine measures to activate a memorandum of understanding signed between the Iraqi ministry of industry and minerals and the Jordan Industrial Estates Corporation.

In the investment field, the two countries will sign an agreement between Jordan Investment Board and Iraq’s National Investment Commission on protecting investments.

Talks will also focus on the need to provide Jordan with a list of the goods allowed to be imported from Iraq to facilitate the flow of products between the two countries.

In the field of construction and housing, officials from both countries will examine measures to activate a memorandum of understanding signed between the Ministry of Public Works and Housing and the Iraqi ministry of construction and housing in 2009 on boosting bilateral cooperation.


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