Shamali said the steps taken today are the result of efforts made to launch the phase of practical measures necessary to implement the joint economic zone project, which reflected directives and visions of the two countries’ leaders as well as outcomes of the tripartite summits that brought them together, in addition to Egyptian President Abdel Fattah Al-Sisi.
Shamali also thanked the Iraqi minister, Iraqi-Jordanian Industry Company, and all stakeholders for their “remarkable” efforts to accomplish this strategic project, which is hoped to make a “qualitative and significant” leap in the level of economic cooperation between the two countries in all fields.
The zone constitutes an opportunity to build Jordanian-Iraqi economic integration in many fields, especially in industrial areas, Shamali said.
The project allows the zone’s products and industries to benefit from exemptions and advantages of the free trade agreements signed by Jordan with the world countries to enter markets with a population exceeding a billion people with a big purchasing power without any technical or customs restrictions, Shamali pointed out.
The Iraqi minister, for his part, said the future stage is important to enhance bilateral cooperation in the economic fields and take practical steps to establish the economic zone project after the land allocation has been completed on both sides.
There is a political will to complete this project, which would produce many economic and social benefits for the two countries by bringing about the required development in the western Iraq and eastern Jordan regions and attracting investments in many sectors, the Iraqi minister said.
Al Khabbaz also pointed out management of the Iraqi-Jordanian Industry Company was directed to complete the required work at this stage and set a schedule to prepare documents for the necessary studies and pick a consulting company.
The two ministers also stressed that the zone project will contribute to achieving the desired sustainable economic development, especially in the Kingdom’s eastern areas of Al-Safawi, Al-Ruwaished, Al-Jafr and the Iraqi southern Anbar governorate by improving the region’s infrastructure.
In addition, Shamali and Al Khabbaz noted the project will create direct and indirect job opportunities, strengthen transportation fleet, retail trade, and activate the handling movement in the port of Aqaba.
The project, they added, will attract local and foreign investments in light of the zone’s advantages, incentives and privileges, adding that there is “remarkable” interest in the zone from investment companies and Arab and foreign investors, as the project enjoys investment-attractive advantages and incentives.
An Area of 10,000 dunums from each side was allocated, for the purposes of the project, the two ministers announced.
Source: Jordan News Agency