Chairman of the Jordan Chamber of Industry (JCI), Fathi Jaghbir, said Jordan, Iraq and Egypt have potentials to achieving joint economic integration, provided that trade obstacles are removed.
In a statement to “Petra” on Sunday, he noted the three countries have diverse competitive advantages, whether in industry, agriculture or natural resources, which makes related “economic integration “a reality if its components are used in the required manner.”
“Perhaps the most prominent leverage to success of economic integration lies in the geographical proximity, and easy transportation between the three countries, in addition to the large available agricultural components and energy products from oil and gas,” according to Jaghbir.
Three countries, he noted, have industrial bases to build on, which the follow-up committees have identified, and are concentrated in four sectors targeted in the first phase to enhance tripartite cooperation, covering pharmaceutical, chemical, textile and ceramic industries.
To achieve trilateral economic integration requires the “true” implementation of integration mechanisms in industry and agriculture sectors by studying their supply chains, and axing importing raw materials and semi-manufactured goods from third nations, in a manner that enhances added value and achieves export and local benefits in the three countries, according to Jaghbir.
On future action to achieve integration, he stressed the need to work on expanding trilateral economic, commercial and investment cooperation, especially the sectors targeted in the Jordanian-Egyptian-Iraqi tripartite summit, through crystallizing agreements on the ground in the near future.
On the ground, he called for removing trade obstacles, facilitating flow of products without restrictions and movement of labor and commercial shipping operations.
The recent period, he said, witnessed “wide and unrelentless” efforts by the three countries to expand economic, commercial and investment cooperation to achieve their common interests and serve Arab economic integration.
Efforts focused on the importance of expediting development and implementation of the necessary plans to enhance joint cooperation, especially in the economic, commercial and investment fields, through industrial integration, cooperation in agriculture, food security, logistical areas, and the Jordanian-Iraqi Economic City project, he noted.
Jordan, he pointed out, possesses “remarkable” potentials in a number of “highly” competitive sectors and industries, through which major partnerships and investments can be built in the region, especially if the three countries’ supply chains are boosted.
According to Jaghbir, Jordan’s most prominent assets are concentrated in the food and pharmaceutical industries, fertilizers, chemical industries, packaging, information technology and human resources.
Source: Jordan News Agency