AMMAN — During the first third of 2023, Jordan achieved a surplus of JD149
million in its trade with India, according to data from the
Department of Statistics (DoS)
foreign trade report.
اضافة اعلان
The trade volume
between the two countries during this period was approximately JD1 billion, the
Jordan News Agency, Petra, reported.
Jordan's national exports to India reached a total of JD575 million, securing
the second position in terms of the overall value of Jordanian exports.
Statistical data indicated a significant increase of 27.7 percent in the value
of national exports to India by the end of April 2023, compared to JD450
million in the previous year.
Furthermore, the value of the
Kingdom's imports from India saw a notable rise
of 57.7 percent in the first third of 2023, amounting to JD426 million compared
to JD270 million in the previous year.
Prominent Jordanian
exports to India during this period included
phosphates,
potash,
fertilizers,
steel, copper, aluminum, lead, electrical machinery, as well as fruits and
edible crops.
On the other hand, the
Kingdom primarily imported various goods from India, such as diesel oil,
grains, meat, fish, coffee, tea, spices, flour products, sugar and derivatives,
food preparations, salt, sulfur, dust, chemicals, essential oils, paperboard,
ceramics, and more.
Growth over past four years
Fathi Jaghbir, president of the
Jordan Chamber of Industry, confirmed the
substantial growth in
Jordan's national exports to India over the past four
years. He attributed this progress to the signing of six agreements between the
Jordan Phosphate Mines Company and different Indian companies in 2018, which
resulted in a total trade volume of approximately JD2.274 billion in 2022,
compared to around JD890 million in 2018.
Jaghbir emphasized the focus on phosphates and potash, which accounted for more
than half of Jordan's exports to India. He stressed the importance of
diversifying the range of exported products to expand national exports, taking
into consideration their high quality, efficiency, and the capacity of the Indian
market to accommodate additional Jordanian products.
He also highlighted
the untapped export opportunities worth over $850 million for Jordan in the
Indian market across various industries, including
fertilizers, diverse chemical industries, mineral resources, and precious metals, as indicated by
the International Trade Center's export potential map.
Utilizing existing
agreements
In addition, Jaghbir underscored the significance of utilizing existing
agreements between Jordanian and Indian companies. He proposed expanding trade
cooperation through regular visits to India at the private sector and business
levels to overcome obstacles that hinder the access of
Jordanian products to the Indian market.
He also expressed the JCI's fully committed to developing the industrial
sector, with a strong focus on industrial exports that make up over 95 percent
of total national exports.
This commitment
involves exploring new markets that offer export opportunities for national
products and addressing challenges that restrict access to these markets.
Jaghbir added, "
The chamber aims to raise awareness among industrialists
about new markets that local industries can enter, with the Indian market
considered a priority due to its size and the export opportunities it presents
for Jordanian products."
He emphasized the
potential for cooperation in areas beyond trade, particularly in India's
advancements in information technology, innovation, and artificial
intelligence, which Jordan can benefit from.
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