Latest news with #Al-Jaghbir
Jordan News
17-05-2025
- Business
- Jordan News
25 Jordanian Industrial Companies to Participate in International Construction Exhibition in Damascus - Jordan News
25 Jordanian Industrial Companies to Participate in International Construction Exhibition in Damascus Twenty-five Jordanian industrial companies will participate in the International Construction Exhibition set to be held in the Syrian capital, Damascus, on May 27. The event is organized by the Amman Chamber of Industry. اضافة اعلان Chairman of the Jordan and Amman Chambers of Industry, Eng. Fathi Al-Jaghbir, stated on Saturday that the participating companies represent sectors related to reconstruction—particularly infrastructure, building materials, and energy—alongside engineering industries in which Jordan holds significant competitive capabilities. In a statement, Al-Jaghbir added that an industrial delegation will visit Damascus on the sidelines of the exhibition. The delegation will include representatives from various industrial sectors and will explore opportunities for business partnerships and the establishment of integrated industries. He noted that the visit will also include meetings with several Syrian ministries and institutions involved in bilateral trade, stressing the importance of strengthening economic relations between Jordan and Syria, given their shared interests. Al-Jaghbir emphasized that easing restrictions on the movement of goods and financial transfers would help facilitate the flow of goods and services and enhance the investment environment on both sides of the border. He expressed hope for a return of Jordanian exports to Syria to their historical levels, which once exceeded 181 million Jordanian dinars. He pointed out that Jordan's exports to Syria reached 13 million dinars in the first two months of this year, marking a 40% increase compared to the same period in 2024. He also highlighted Jordan's strategic geographic location, positioning it as a key logistics hub for supplying goods to Syria, Lebanon, and Turkey. This, he said, reinforces Jordan's role as a regional trade corridor and supports the return of Jordanian exports to neighboring markets through Syrian territory. (Petra News Agency)
Jordan News
11-03-2025
- Business
- Jordan News
Jordan's Exports to the Arab Region Rise - Jordan News
Jordan's Exports to the Arab Region Rise Jordan's national exports to the Arab Free Trade Area saw significant growth in the past year, increasing by 15.9% (488 million dinars) to reach 3.564 billion dinars, compared to 3.076 billion dinars in 2023. اضافة اعلان Exports to the Arab Free Trade Area accounted for 42% of Jordan's total exports last year, up from 37% in 2023. Meanwhile, the Kingdom's imports from Arab countries increased by 8.2%, reaching 5.078 billion dinars, compared to 4.693 billion dinars in 2023. Key Drivers of Export Growth The President of the Jordan and Amman Chambers of Industry, Engineer Fathi Al-Jaghbir, stated that the increase in national exports to Arab countries was driven by rising demand in these markets for Jordanian products, which are known for their high competitiveness and quality. He highlighted that Jordan's efforts to expand exports to key neighboring markets, particularly Iraq and Saudi Arabia, played a crucial role in promoting Jordanian products across the Arab world. Exports to Iraq grew by 42.5%, reaching 905 million dinars, while exports to Saudi Arabia increased by 14.3%, totaling 1.1 billion dinars. Sectoral Growth in Exports According to Al-Jaghbir, the key sectors that witnessed export growth included: Engineering industries (cables and wires) Construction materials (building units and prefabricated structures) Food industries (processed foods, tea, and tobacco) Chemical industries, packaging, plastics, and furniture Among the top exported products were fertilizers and cleaning products, while petroleum products, plastics, pearls, and jewelry were among the leading imports to Jordan. Strategic Steps to Enhance Exports Al-Jaghbir emphasized the need for strategic measures to further boost Jordanian exports, including: Enhancing Arab economic integration by fully implementing the Arab Free Trade Agreement, eliminating trade barriers, and simplifying export procedures. Reducing production costs, particularly by supplying industrial zones with natural gas to lower energy expenses and increase competitiveness. Expanding export opportunities by targeting underutilized markets, with potential exports exceeding $2 billion to countries such as: Saudi Arabia: $650 million UAE: $270 million Kuwait: $136 million Qatar: $135 million Egypt: $120 million Call for Stronger Arab Trade Cooperation Al-Jaghbir stressed the urgent need for stronger Arab trade cooperation, noting that intra-Arab trade accounts for only 12% of the region's total foreign trade. He urged Arab countries to: Remove trade restrictions Facilitate labor movement and investments Improve logistics and commercial shipping Jordan's Economic Stability and Export Potential Assistant Secretary-General of the Union of Arab Businessmen, Tareq Hijazi, highlighted that Jordan's free trade agreements and geopolitical stability position it as a gateway for trade and investment in the region. He pointed out that increasing demand for Jordanian products in Arab markets is driven by: Economic growth in some Arab countries Recovery from past economic crises High-quality Jordanian products that meet regional standards Key Recommendations for Sustainable Export Growth Economic expert Dr. Adli Qandah outlined several strategies to sustain Jordan's export growth: Diversify export products by expanding into technology and high-value services Improve quality standards to build consumer trust Upgrade logistics infrastructure (ports, roads, storage facilities) Encourage foreign investment in export-driven industries Leverage e-commerce and digital marketing to access new markets Reduce production costs through government support for energy prices and easier access to financing Enhance customs efficiency to streamline trade with Arab partners Conclusion With the right policies and investments, Jordan has the potential to achieve sustained export growth, strengthen its position in Arab markets, and contribute to broader regional economic integration. (Petra News Agency)
