Jordan, Iraq to sign a free trade agreement
Jordan-Iraq, Economics, 7/23/2002

Jordanian minister of trade and industry Salah Eddin al-Bashir said that Jordan and Iraq will shortly sign a free trade agreement in order to support their trade and economic relations.

In statements issued on Monday by the Jordanian daily al-Dostour, al-Bashir, currently visiting Baghdad, stressed that the Jordanian and Iraqi governments will sign a free trade agreement at ministerial levels in Baghdad shortly.

He said that this agreement will ensure more prospects for the private sector to play an active role in supporting bilateral trade relations.

Al-Bashir said that the two states are linked to a trade agreement signed in 1957 according to which certain goods were exempted from customs fees, noting that Jordan seeks to develop its trade relations with Iraq, its first trade partner in the Arab states.

According to figures of the Jordanian central bank, the Jordanian exports to Iraq reached in 2001 $ 230 million.

For this year 2002, Amman and Baghdad are linked by a trade protocol estimated at a value of $ 260 million, as well as by an agreement to provide the Kingdom with all its needs of Iraqi oil estimated at 515 million tons for the current year, half of the amount is given at preferential prices to Jordan by Iraq.

These trade exchange between the two states are made according to an "exception" to the sanctions system imposed by the UN against Iraq since 1990, and in the framework of the "oil for food" program.

On Friday al-Bashir started a four- day visit to Iraq aimed at eliminating obstacles for developing trade and economic relations between the two states, according to Jordanian official sources.

Jordan repeatedly, officially announced his rejection to direct an American attack against Iraq, which is accused by Washington of having mass destruction weapons.

For its part, Iraq seeks to enhance its economic relations with the Arab states. In recent years Iraq signed free trade agreements with nine Arab states.

Previous Stories:
  Jordan and the Iraqi oil   (4/10/2002)
  Jordan to sign free trade agreement with Iraq soon   (12/31/2001)
  An oil agreement signed between Iraq, Jordan   (12/24/2001)

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