US accounts for 20% of Jordanian exports, says AmCham

Jordanian exports to the United States constituted 20 percent of the Kingdom’s total exports last year, according to American Chamber of Commerce in Jordan (AmCham-Jordan) president Samer Judeh.

In an interview with Petra, he noted that the Jordan-US trade balance achieved a surplus of JD625 million in favor of the Kingdom in 2022.

According to foreign trade data issued by the Department of Statistics, the volume of trade between Jordan and the US in 2022 was at JD2.75 billion, with national exports increasing by 6.2 percent to about JD1.685 billion, compared to JD1.586 billion in 2021.

Imports from the US also increased last year by 7.3 percent, topping JD1.060 billion, compared to JD988 million in 2021, the figures indicated.

Jordan and the US signed an agreement in 2000 to establish a free trade zone to enhance economic cooperation. It went into force in 2001, covering areas including goods and services and intellectual property protection.

After 10 years of going into force, trade on industrial and agricultural products between the two countries was tax-free.

Jordanian industrial products are of high quality and are demanded in the US market, Judeh pointed out, but they need further support to strengthen their presence and spread on a larger scale.

He went on that AmCham is mulling an “untraditional” campaign to promote investment privileges in Jordan under the recently-endorsed Investment Environment Law.

Investors in the US are interested in garment, fertilizer, potash phosphate, and chemicals industries, Judeh indicated.

He said Jordan deems the US as the biggest trading partner with economic ties dating back to the 1950s.

Source: Jordan News Agency

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