Jordan, UK explore deepening trade ties under partnership agreement
AMMAN: Jordan and the UK have reaffirmed their commitment to strengthening economic and trade cooperation under the framework of their 2021 bilateral partnership agreement, the Jordan News Agency reported.
During talks in Amman on Saturday, Minister of Industry, Trade, and Supply Yarub Qudah met with British Trade Envoy to Jordan, Kuwait, and Palestine, Iain McNicol, to discuss progress made under the deal and explore further avenues of collaboration.
Philip Hall, the British ambassador to Jordan, also attended the meeting.
According to a statement from the Jordanian Ministry of Industry, the discussions touched on efforts to streamline rules of origin and the development of mechanisms to monitor the agreement's implementation; chief among them the launch of a Partnership Council and technical committees.
Qudah highlighted several ongoing challenges, including the complexity of the rules of origin, and the comparatively high costs of compliance and export for Jordanian producers.
He stressed the need to review the terms of the current agreement to ensure Jordanian products are granted preferential access to UK markets— particularly in light of the United Kingdom's Developing Countries Trading Scheme, which offers more favorable terms to other nations.
McNicol affirmed Britain's 'keenness' to deepen trade ties with Jordan and expressed support for improving the Kingdom's investment environment.
He also emphasized the UK's commitment to sustainable trade initiatives, including support for small and medium-sized enterprises, and stimulating British investment in Jordan's 'vital' productive sectors.
Looking ahead, both sides agreed to accelerate preparations for the upcoming Jordanian-British Business Forum, which they said would provide a key platform to strengthen private-sector ties and explore new areas of economic cooperation.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
6 hours ago
- Asharq Al-Awsat
Gold Holds Ground as Jobs Data offsets Safe-haven Demand
Gold prices held steady on Wednesday as stronger US jobs data countered safe-haven demand driven by simmering trade tensions between the US and China. Spot gold was steady at $3,349.19 an ounce, as of 1145 GMT. US gold futures were unchanged at $3,373.10. "US labor data gave markets a bit of relief yesterday, causing a small dip in gold prices. However, tensions between the US and China are still keeping risks high and gold prices supported," said Zain Vawda, market analyst at MarketPulse by OANDA. Job openings in the US rose in April, though layoffs surged to their highest level in nine months, economic data showed, hinting at softening labor market conditions, Reuters reported. Donald Trump said on Wednesday that Chinese President Xi Jinping is tough and "extremely hard to make a deal with," days after the US President accused China of violating an agreement to roll back tariffs and trade restrictions. Washington doubled its tariffs on steel and aluminium imports on Wednesday, the same day the Trump administration expects trading partners to make "best offers" to avoid other punishing import levies from taking effect in early July. The focus will be on Friday's US non-farm payrolls data for more cues on the Federal Reserve's policy path. Federal Reserve's policy path. Fed officials have reiterated their cautious policy stance, citing risks from trade tensions and economic uncertainty. "If the data is stronger than expected, interest rate cut expectations are likely to wane, which would weigh on the gold price," said Commerzbank analyst Carsten Fritsch. "We see gold trading in a range between $3,300 and $3,400 per troy ounce in the short term." Gold, a safe-haven asset during times of political and economic uncertainty, tends to thrive in a low-interest-rate environment. Elsewhere, spot silver fell 0.5% to $34.32 an ounce, platinum rose 1.1% to $1,085.50 and palladium lost 0.5% to $1,005.11.
Asharq Al-Awsat
10 hours ago
- Asharq Al-Awsat
Trump Calls China's Xi Tough, ‘Hard to Make a Deal with'
Donald Trump said on Wednesday that Chinese President Xi Jinping is tough and "extremely hard to make a deal with," days after the US President accused China of violating an agreement to roll back tariffs and trade restrictions. "I like President Xi of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH," Trump said in a post on Truth Social. White House press secretary Karoline Leavitt had said on Monday that Trump would speak with Xi this week as the two leaders seek to iron out differences on last month's tariff agreement in Geneva, among larger trade issues. A US trade court last week ruled that Trump overstepped his authority in imposing the bulk of his tariffs on imports from China and other countries under an emergency powers act. Less than 24 hours later, a federal appeals court reinstated the tariffs, saying it was pausing the trade court ruling to consider the government's appeal.
Al Arabiya
15 hours ago
- Al Arabiya
Trump calls China's Xi tough, ‘hard to make a deal with'
Donald Trump said on Wednesday that Chinese President Xi Jinping is tough and 'extremely hard to make a deal with,' days after the US President accused China of violating an agreement to roll back tariffs and trade restrictions. 'I like President Xi of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH,' Trump said in a post on Truth Social. White House press secretary Karoline Leavitt had said on Monday that Trump would speak with Xi this week as the two leaders seek to iron out differences on last month's tariff agreement in Geneva, among larger trade issues. A US trade court last week ruled that Trump overstepped his authority in imposing the bulk of his tariffs on imports from China and other countries under an emergency powers act. Less than 24 hours later, a federal appeals court reinstated the tariffs, saying it was pausing the trade court ruling to consider the government's appeal.
