Private Sector Is Key For Jordan-Iraq Economic Cooperation

(MENAFN- Iraq Business News)

By John Lee.

The President of the Jordanian Businessmen Association , Hamdi Tabbaa (pictured), has said that partnerships between Jordan and Iraq's business communities are crucial for a successful economic relationship between the two nations.

He called for an action plan to outline both sides' priorities and track agreement outcomes.

On February 8th, a joint committee will convene in Baghdad to discuss trade, private sector incentives, joint economic projects, and collaborations in various sectors.

Tabbaa highlighted the potential for increased exports to Iraq and the possibility of establishing a logistic zone in northern Mafraq.

He called for reducing the 30 percent tax on Jordanian exports and reducing visa fees to facilitate investment. Trade between the two countries increased to JD707 million in Jan-Nov 2022, up from JD415 million in the same period of 2021.

Jordanian exports to Iraq included vegetables and fruits, cheese, milk, eggs, palm oil and other oils, live chicken and boneless meat, animal or vegetable fats and oils, salt, cigarettes, feed concentrates, mineral and aerated water and juices, and medicines. They also included dyes and paints, perfumes and skin care products, pipes and tubes, sheet metal, bottles and glass, wood, textiles, cotton and fabrics, in addition to electrical appliances.

The Kingdom's most important imports from Iraq were petroleum oils, mineral materials, natural gas and diesel (solar), potassium sulfate, mineral and chemical fertilizers, aluminum, dried dates, chickpeas, wheat (wheat), barley, sorghum, Jameed, fruit trees, straw and grain stalks, scrap, and furniture.

(Source: Petra)


Iraq Business News

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