Turkey, Jordan establish committee to boost bilateral trade

Published 02.10.2019 10:26
Updated 02.10.2019 12:48
emIHA Photo/em
IHA Photo

Turkey and Jordan signed a framework agreement for a joint economic committee (JEC) to raise bilateral trade, Turkish trade minister announced late Tuesday.

Jordanian Industry, Trade and Supply Minister Tariq Hammouri along with a delegation visited the capital Ankara for the agreement, Ruhsar Pekcan said in a Twitter post.

She said the framework agreement, which establishes the JEC, will boost bilateral trade and economic relations.

Two countries' bilateral trade was nearly $960 million, with Turkey's exports to Jordan totaled $860.9 million in 2018.

The free trade agreement (FTA) between the two countries signed in March 2011 was canceled last year by Jordanian side due to negative economic conditions.

Turkey has several JEC and FTAs with several countries from Europe to Asia and South America such as India, Brazil, North Macedonia and the Czech Republic.

While joint economic committees organize meetings to focus on boosting bilateral trades, free trade agreements reduce trade barriers such as import quotas and custom tariffs.

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