Exploring the export potential to support Jordan’s vision
Amman, July 24 2021, JE Headquarters: The CEO of the Jordan Exports Eng. Muhammad Al-Shanti pointed out the importance of His Majesty’s visit to the US and his meeting with senior economic officials in the American administration. Over twenty years after signing the Free Trade Agreement (FTA) between the countries, the FTA has helped increase Jordanian exports to the American market, becoming Jordan’s first export market with 22% of total exports that reached $1.7 billion in 2020.
Al-Shanti explained that the world trade map issued by the World Trade Center shows that there is an untapped export potential to the American market estimated at 617 million dollars. The American market is the largest in the world, with an import volume exceeding 2.5 trillion dollars annually.
Al-Shanti stressed the importance of His Majesty’s meeting with the USAID’s Director and reviewing the economic development programs implemented by the agency in Jordan, “The meeting will give impetus to these projects and support the export sector through projects that raise readiness and competitiveness. Exports are the real lever for economic development and fighting poverty and unemployment;” this is after the news about discussing the idea of establishing funds to support pioneering economic projects and sectors.
Al-Shanti called on the public sector, in partnership with the private sector, to translate the contents of the royal visit into practical steps to increase export volume, diversify products, and strengthen Jordanian products’ position in the American market. Further, he called the parties involved in export affairs to cooperate and discuss with the American side about the possibility of removing some organizational and technical obstacles for Jordanian products to access the market, especially those for the food sector (meat and dairy), iron, and aluminum.
Al-Shanti also stressed the need to create a clear plan to determine Jordan’s export priorities based on production capacity, the added value of commodities, and services with export potential – especially for the IT sector and innovative industries – and to provide technical assistance to support and help them access the American market.
About Jordan Exports (JE)
Jordan Exports (JE) is a public-private export institution mandated by the Ministry of Industry, Trade, and Supply (MoITS) to coordinate national export activities. JE is the umbrella organization to design, develop, and promote exports in Jordan, employing an innovative and demand-driven approach to empower and capacitate Jordanian companies, accelerate export development, increase export volume, and connect Jordan to the world.
For more information, write to JE at email@example.com.