JCI: Jordan-EU trade balance still in favour of union

AMMAN — Despite the simplified rules of origin (RoO) scheme between Jordan and the European Union (EU), the Jordan-EU trade balance is still in favour of the union, Head of the Jordan Chamber of Industry (JCI) Fathi Jaghbeer said on Wednesday.

The Kingdom's trade balance deficit with EU countries increased by 12.9 per cent in 2021 to hit some JD2.671 billion and the Kingdom’s exports reached JD199 million, while the EU imports surpassed JD2.870 billion, Jaghbeer noted. 

In 2021, Germany was the EU’s largest exporter to the Kingdom with around JD544 million, while the Netherlands was the top importer of Jordanian products, importing goods worth some JD39 million, the Jordan News Agency, Petra, reported. 

During a meeting with the president and members of the Jordan-European Business Association (JEBA), Jaghbeer highlighted the efforts of the Jordan and Amman chambers of industry to enhance Jordan's exports to traditional and "promising" markets. 

He said that these efforts entail developing an export readiness assessment of industrial institutions, conducting market studies based on technical analysis of global market requirements, raising export technical competencies, and networking Jordanian manufacturers with potential European buyers.

JEBA President Ali Haider Murad said the association will coordinate its activities with Jordan’s chambers of commerce and industry, especially those related to meeting with European commercial attaché offices to increase the EU trade exchange.

The JEBA will hold awareness workshops on specifications and requirements for entering EU markets, Murad added.