Jordanian players wait for Iraqi border to reopen soon
by ChemOrbis Editorial Team - content@chemorbis.com
Market players in Jordan welcomed the recent developments with one of the country’s most important trading partners, Iraq. According to media reports, Jordan and Iraq have agreed to speed up bilateral economic and trade cooperation during Jordanian Prime Minister Hani Mulki’s meeting with his Iraqi counterpart, Haider al-Abadi on January 9.
The Prime Ministers said that the Triebel border will resume trading and tourism activities soon and the Safwan border crossing between Iraq and Kuwait can be used until the Triebel crossing is reopened. Haider al-Abadi also reported that officials will work on exemption of 30% taxes for some Jordanian goods and reduction of transportation costs on Jordanian exporters to the country.
A manufacturer said, “Demand has slowed down since June 2016 given the closed borders with many of our exports destinations, especially Syria and Iraq. In addition, due to implementation of 30% customs duties on exports to Iraq, Jordanian exporters were struggling to resume their activities to the country as 70% of their exports go to Iraq. Therefore, they had started to search for alternative export destinations such as Europe and America. However, the recent developments between Jordan and Iraq signaled that the customs duties can be removed for some goods, which will eventually increase the export volumes to the country.”
Meanwhile, Iraq and Jordan also agreed on the establishment of an oil pipeline project which would link the two countries’ two port cities; Aqaba and Basra.
The Prime Ministers said that the Triebel border will resume trading and tourism activities soon and the Safwan border crossing between Iraq and Kuwait can be used until the Triebel crossing is reopened. Haider al-Abadi also reported that officials will work on exemption of 30% taxes for some Jordanian goods and reduction of transportation costs on Jordanian exporters to the country.
A manufacturer said, “Demand has slowed down since June 2016 given the closed borders with many of our exports destinations, especially Syria and Iraq. In addition, due to implementation of 30% customs duties on exports to Iraq, Jordanian exporters were struggling to resume their activities to the country as 70% of their exports go to Iraq. Therefore, they had started to search for alternative export destinations such as Europe and America. However, the recent developments between Jordan and Iraq signaled that the customs duties can be removed for some goods, which will eventually increase the export volumes to the country.”
Meanwhile, Iraq and Jordan also agreed on the establishment of an oil pipeline project which would link the two countries’ two port cities; Aqaba and Basra.
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