(MENAFN- Jordan Times)
AMMAN — The Jordanian-Syrian Joint Free Zone was reopened on Wednesday. The move was taken to revitalise the commercial corridor, stimulate investments and the service sector, as well as support economic and social development for both countries.
The announcement was made during a meeting between Minister of Industry and Trade Yousef Shamali, head of the Jordanian side of SJFZ, and Syrian Minister of Economy and Foreign Trade Mohammed AlKhalil, head of the Syrian side of SJFZ, according to a statement by the Ministry of Industry and Trade.
Established under the Economic Cooperation Agreement between Jordan and Syria, the Joint Free Zone has been fully rehabilitated and is now ready to receive local, regional and international investments.
Director General of the Jordanian-Syrian Free Zone Company Irfan Khasawneh said that resuming the zone's activities is a result of efforts exerted by partners after a seven-year interruption.
Khasawneh noted that the volume of merchandise that entered into the zone in 2014 reached three tones, while the zone received about 560 investment contracts in 2014 that registered a trade volume of more than JD1 billion.
He also noted that the zone was established on a plot of land with a total area of 6,500 dunums, including 1,500 dunums that are currently used, leaving 5,000 dunums pending investments.
The Association of Clearance and Transport Companies Owners welcomed the step, where Association President Daif Allah Abu Aqouleh said that the reopening of the zone after seven years of closure is part of efforts to revitalise trade movement and attract investments, according to a statement made available to The Jordan Times.
Reopening the free zone would create a gateway for Syria's reconstruction, he said.
Aqouleh added that the move will support both countries' economies and stressed that any cooperation measures are in the interest of both sides.
He noted that reopening of the Jordanian-Syrian Joint Free Zone requires infrastructure rehabilitation, as well as regaining investor confidence after restoring security and stability.
Aqouleh also called on the Minister of Trade and Industry to take into account maintaining the stability of goods, handling and transporting good movement in Aqaba, as to avoid affecting the Kingdom's revenues amid this critical phase, the statement added.
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