All the free trade agreements (FTA) Jordan has entered with other countries will be subject to reconsideration, Minister of Industry, Trade and Supply Yarub Qudah said on Sunday.
On suspending the FTA with Turkey, Qudah said that it had failed to serve the national economy and had an adverse impact on local industries.
Qudah said that the deal was based on three principles: increasing trade exchange, preserving trade balance and obtaining Turkish technical assistance to Jordan.
None of these goals had been realised since the agreement was signed said Qudah, adding that the Turkish side imposed strict rules of origins on the Jordanian exports similar to those of Europe in the past.
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He added that any future agreement would be signed only after consultation with the private sector.
He expressed satisfaction with Jordan's FTA with the US as the Kingdom's exports to the partner’s market have reached $1.7 billion.
Jordanian exports to the US are mainly garments and aluminium.
Earlier this month, the Cabinet decided to suspend the FTA with Turkey, citing its adverse impact on the local industrial sector and the Turkish side’s failure to meet its commitments under the partnership agreement that went into effect in 2011.
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