US Commerce Department, AmCham-Jordan sign agreement to strengthen trade ties

AMMAN — The US Department of Commerce’s International Trade Administration (ITA) and the American Chamber of Commerce in Jordan (AmCham-Jordan) recently signed a Strategic Partnership Memorandum of Agreement (MOA) to help American exporters and investors conduct business in Jordan and support Jordanian firms that have invested in or are considering US investments.

The MOA provides a collaborative framework for deepening commercial ties between the US and Jordan by advancing shared priorities that promote greater trade and investment, according to a US embassy statement.

More specifically, the partnership will support opportunities for US companies in Jordan to showcase their goods and services. It will also support programs for Jordanian companies on how they can increase their global growth through US investments. 

During Tuesday’s National Tijara Coalition annual meeting in Amman, US Ambassador to Jordan Henry Wooster noted that, “With the 20th anniversary of the US-Jordan Free Trade Agreement, it is important to leverage such occasions to showcase the numerous market opportunities the FTA offers. This partnership provides a strong example.” 

The FTA enables duty-free access for most products, which is favourable to bilateral business development. Since the signing of the US-Jordan FTA in 2000 – the first United States FTA with an Arab country – bilateral trade between the countries has grown by over 800 per cent, the statement said.

Mohammed S. Bataineh, AmCham-Jordan Chairman, highlighted the US’ position as one of the largest economies in the world and Jordan’s top trading partner, emphasising that the FTA continues to hold great potential. 

“Through diligent joint work and true partnership, the United States and Jordan can leverage the opportunities resulting from the agreement and translate them into tangible and sustainable results,” read the statement. 

The ITA-AmCham Jordan MOA is a product of ITA’s Strategic Partnership Programme, which facilitates partnerships between ITA and trade associations, private corporations, chambers of commerce and other organisations that complement ITA’s mission.

“We look forward to partnering with AmCham-Jordan in areas of mutual interest to improve the global business environment and help US organisations compete at home and abroad,” said Senior Commercial Officer Janee Pierre-Louis. 

In 2020, bilateral trade of goods and services was valued at $4 billion, and the US was one of Jordan’s leading sources of imports.

The ITA at the US Department of Commerce is the premier resource for American companies competing in the global marketplace. The ITA has more than 2,200 employees assisting US exporters in more than 100 US cities and 75 markets worldwide, the statement said.

AmCham-Jordan is a voluntary non-profit member-based organisation established in 1999 that has been working for 20 years to contribute to Jordan’s sustainable economic development through the promotion of Jordan-US trade and investment relations, policy, advocacy, human resources development and business community outreach, according to the statement.