ACC calls for diversifying trade markets due to economic impact of coronavirus

AMMAN — In order to support merchants and importers in the Kingdom, the Amman Chamber of Commerce (ACC) has called for finding alternative markets for trade in light of the novel coronavirus outbreak in China.

“The ACC ramped up its economic and trade precautions and measures in case the coronavirus epidemic remains for an extended period,” ACC President Khalil Hajj Tawfiq told The Jordan Times on Wednesday.

With the aim of keeping risks low and promoting economic development given the coronavirus’ ripple effect on world import markets, the ACC is working to provide traders and merchants with new trade options through embassies in the Kingdom, added Hajj Tawfiq.

Jordan’s imports from China have an estimated value of JD2.2 billion a year, he noted.

“Up to 16 per cent of Jordan’s annual imports are from China, which makes it a crucial market,” he said.

Turkey is an “essential” alternative market, given the country’s proximity to the Kingdom and its industrial quality, said Hajj Tawfiq, adding the Korean, Egyptian and Vietnamese markets are also important.

“This is a national crisis. Our role, therefore, is to take action before the crisis really happens and, of course, finding alternative markets has confused traders and citizens, so there must be a plan that tackles the problem,” he said.

The president also highlighted the need for coordination with relevant ministries and government bodies to tackle the coronavirus’ effects on the trade sector and the national economy.