Baghdad: Jordanian delegation to reduce the commercial protocol
Iraq-Jordan, Economics, 2/25/1999

Jordanian Minister of Industry and Trade Mohammed Saleh El-Horani arrived in Baghdad yesterday, heading his country's delegation to attend the meetings of the Iraqi - Jordanian joint committee.

Sources in the Trade and Industry Ministry stated that the Jordanian delegation would reduce the volume of the commercial protocol between the two countries to $200 million annually, from $255 million last year.

Moreover, Jordan explained the reduction of the protocol's volume by saying that the prices of petroleum in the international market have gone down.

The commercial protocol is connected to the petroleum accord between the two states, according to which Jordan obtains its petroleum needs from Iraq, in return for food and basic goods.

The two countries specified at the beginning of the year the petroleum agreement that allows Jordan to obtain 4.8 million tonnes of raw petroleum and its derivatives during 1999, which is the same quantity it obtained last year.

The reduction of petroleum prices in international markets made the material return for the Iraqi petroleum less than 1998.

Previous Stories:
  Jordan, Iraq holds economic talks   (2/20/1999)
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