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Jordan - Major jump towards trade liberalisation

Global Arab Network - - Rabih Serrai

Monday, 01 November 2010 01:37

Jordan (Amman) - Jordan has made major leaps towards fully libralising trade represented in joining the World Trade Organisation and concluding free trade agreements with world nations, said Minister of Industry and Trade Amer Hadidi.
Chairing a meeting on the national foreign trade strategy, Hadidi said that the newly-introduced approach is of paramount importance in efforts to boost the national economy and raise the exports volume.

"The strategy acts as a guide for the public sector and the business community and is a milestone in the government's foreign trade approach for the next five years," the minister said,
adding that the strategy was based on analyzing export opportunities, competitiveness of national products and the economic impact of freeing up trade.

He told the national trade policy executive committee that the strategy aims to bring Gross Domestic Product GDP to 8 percent, reduce net trade balance to $1.7 billion, and raise capital investment to 21 percent of GDP.

The strategy is based on a number of key prongs, mainly increasing the competitiveness of the national economy through export diversification, facilitating exports access to international markets and attracting direct investment.
(Petra)

Global Arab Network

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