Jordan, Palestine agree on timeline to increase trade exchange — minister

AMMAN — Jordan and Palestine have agreed on a number of mechanisms that seek to bolste economic cooperation with a focus on labour and commerce.

These measures also aim to eliminate obstacles hindering the flow of products from either side, the Jordan News Agency, Petra, reported on Thursday.

During the visit of Minister of Industry, Trade and Supply Tareq Hammouri to Palestine, which concluded on Wednesday, the two sides affirmed the importance of joint efforts in facing challenges to increasing the volume of trade exchange and the private sector’s ability to establish investment projects in different fields.

In a meeting with Hammouri, Palestinian President Mahmoud Abbas highlighted the depth of fraternal relations between the two countries and lauded Jordan’s support to the Palestinian cause.

On the sidelines of inaugurating the Jordanian Industries Expo in Jenin, Hammouri met Palestinian President Mahmoud Abbas and Prime Minister Mohammad Shtayyeh over bilateral relations.

 “This visit came to implement what was agreed on by the two countries’ joint committee and to set a clear timeline for increasing the volume of trade exchange and economic cooperation,” Hammouri said, adding: “We look forward to boosting economic and trade cooperation through expanding the base of Jordanian products in the Palestinian market and facilitating the access of Palestinian goods to Jordan and the region.”

The volume of trade exchange has yet to meet expectations, the minister said, noting that during the first four months of this year, the figure stood at $70 million, compared with $207 million for the whole of 2018.

Hammouri stressed the need for establishing “complementary industries”, in which the Palestinian side would work on producing the first half of a product, before exporting it to Jordan for completion, explaining that these products would then be exported as part of the free-trade agreements that join the Kingdom with a number of trade partners.