National exports have witnessed “remarkable” growth and doubled several times, thanks to His Majesty King Abdullah II’s efforts to launch “distinguished” economic and trade partnership with many countries worldwide, according to Head of the Jordan Exporters Association (JEA), Ahmad Khudari.
In a statement on Saturday, on the occasion of His Majesty’s birthday, which falls on Sunday, Khudari noted Jordan’s industrial exports rose in value from JD500 million during the late last century to exceed JD5 billion now, adding industry’s stake reaches a quarter of the gross domestic product (GDP).
Industrial exports, which now constitute 90% of the Kingdom’s total exports, reached 142 countries, thanks to signing bilateral and free trade agreements, foremost is joining World Trade Organization and the FTAs inked with the United States and Canada,he pointed out.
Khudari said Covid-19 crisis revealed the need for self-reliance, increasing production, expanding and diversifying existing industrial investments to reach self-sufficiency for many foodstuff, medical and basic commodities in a way that supports national security requirements.
Jordan’s exports are a solution to many economic problems, especially unemployment, in light of the small size of the local market, as finding new markets for products helps increase production and attract new investments, which would create more job opportunities for Jordanians, strengthen the Kingdom’s foreign currency reserves and improve trade balance, according to Khudari.
Khudari stressed the need to focus on increasing Jordanian exports, raising their competitiveness, and opening new destinations for Jordanian products by entering non-traditional markets, such as Africa, and enhancing presence in American and European markets.
JEA, since its establishment in 1988, has been making “remarkable” efforts to increase exports by organizing participation of Jordanian industrial companies in various exhibitions that reach markets in Canada, the United States, Africa, Europe, the Arab Gulf states and Australia, he noted.
JEA, he added, plans to study entering South American markets, which have large numbers of Arab residents that offers an opportunity to market Jordanian products there in the future.
SOURCE: JORDAN NEWS AGENCY