AMMAN— Representatives of the commercial and
industrial sectors and economists have said that the ratification of a
framework agreement for economic cooperation with Turkey must be based on equal
standards and mutual benefit, stressing that the deal could serve as a
launch-pad for closer trade ties, according to the Jordan News Agency, Petra.
اضافة اعلان
President of the
Jordan Chambers of Industry (JCI) Fathi
Jaghbir said the agreement would set the ground for the setup of joint business
councils based on the principles of equality, non-discrimination, and
reciprocal support.
Jaghbir made it clear that the agreement, signed in 2019 and
ratified a few days ago, does not mean the reintroduction of customs duties
exemptions offered under a defunct free trade pact, which the Kingdom revoked
in 2018 after it failed to deliver on its intended premise of boosting
Jordanian exports to Turkey, Petra reported.
Jaghbir defended the repeal of the free trade agreement, and
said the move to abolish it had a clear impact on the national economy and
directly contributed to reducing the trade deficit, increasing government
revenue, and protecting the national product against “the encroachment of
Turkish imports”.
He expressed hope that the new framework agreement would
usher in a new era in bilateral trade and economic relations on a basis that
guarantees the interests of both parties, especially in the areas of technology
transfer and exchange of expertise.
According to Jaghbir, some elements of the previous free
trade agreement remained on paper, including the provision of Turkish technical
support to Jordanian industry, the transfer of technological know-how, and the
launch of Turkish investments in Jordan.
Jaghbir, who is also president of the Amman Chamber of
Industry, emphasized that the national economy and protection of national
products must prevail over any other consideration.
He expressed hope that the
new agreement would establish economic cooperation with Turkey at an
“acceptable level of parity”.
The new framework agreement is designed to upgrade
cooperation in 16 economic areas, including trade and mutual investments,
agriculture, energy, manufacturing, consumer protection, customs, logistics,
and intellectual property rights.
According to data by the Amman Chamber of Commerce (ACC),
the Kingdom’s exports to Turkey during the first five months of this year
amounted to a modest JD9 million against JD181 million in imports.
The main Jordanian exports to the Turkish market include
fertilizers, foodstuffs, lead and by-products, vegetable products, and
plastics, according to Petra.
ACC President Nael Kabariti said that the ratification of
the framework agreement with Turkey is aimed at strengthening relations between
the two countries and drawing up a road map that paves the way for broader
agreements in the future.
While describing the agreement as “preliminary”, Kabariti
said it will reflect positively on both sides.
“There is no economic impact or
return at the present time to the framework agreement unless talks develop in
the future and new frameworks for agreements and trade exchange are
established,” the ACC president said.
Kabariti called on government stakeholders to involve the
private sector in the talks and even in the signing of free trade agreements
with countries, according to Petra.
Head of the Jordanian Businessmen Association Hamdi Tabbaa
said: “We hope that the Jordanian-Turkish agreement, which was ratified by both
parties, will deliver the desired benefit better than the previous one.”
He indicated that the Jordanian-Turkish framework agreement
for economic cooperation does not include customs exemptions, so it will not
directly contribute to reducing import costs, but it “will have a role in
converging views and building and expanding economic and trade cooperation on the
basis of equality and mutual benefit”.
“The basis to be relied upon should be reciprocity if we
mean to avoid any scenario that harms the interest of the Jordanian economy at
the expense of any other party,” Tabbaa concluded.
Read more
Business
.jpg)
.jpg)
