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Turkey, Jordan sign agreement to boost bilateral trade

Turkey, Jordan sign agreement to boost bilateral trade
Framework agreement to boost two countries’ bilateral trade and economic relations, says Turkish trade minister

By Gokhan Ergocun

ISTANBUL (AA) - 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.

source: News Feed
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