Latest news with #GAFTA
Observer
17-05-2025
- Business
- Observer
Arab Economic Summit discusses food security
BAGHDAD: HH Sayyid Shihab bin Tarik al Said, Deputy Prime Minister for Defence Affairs, headed the Sultanate of Oman's delegation to the Fifth Arab Economic and Social Development Summit, which began on Saturday in the Iraqi capital, Baghdad with the participation of a number of heads of states and governments. The summit discussed the Arab food security file, developments in the Greater Arab Free Trade Area (GAFTA) and the completion of requirements for establishing the Arab Customs Union. The summit also discussed the executive plan for the Arab Water Security Strategy in the Arab region to address future challenges and requirements for sustainable development. The summit also reviewed the strategic framework and executive action plan for the Regional Programme for the Economic and Social Empowerment of Arab Women, among other issues. The Sultanate of Oman's delegation accompanying HH Sayyid Shihab comprises: Sayyid Badr bin Hamad al Busaidy, Foreign Minister; Dr Abdullah bin Mohammed al Saeedi, Minister of Justice and Legal Affairs; Dr Said bin Mohammed al Saqri, Minister of Economy; Abdullah bin Nassir al Rahbi, Ambassador of the Sultanate of Oman to Egypt and its Permanent Representative to the Arab League and the Charge D'affaires of Oman's Embassy in Iraq. — ONA
Zawya
12-05-2025
- Business
- Zawya
Jordan's exports to GAFTA countries rise by 12.2% by end of February
AMMAN — National exports to the Greater Arab Free Trade Area (GAFTA) countries grew by 12.2 per cent by the end of February 2025, reaching JD515 million, compared to JD459 million for the same period last year. Meanwhile, the Kingdom's imports from the GAFTA nations increased by 4.2 per cent for the same period, recording JD863 million, compared to JD828 million last year, the Jordan News Agency, Petra, reported. Foreign trade data from the Department of Statistics (DoS) showed a decline in the Kingdom's trade deficit with the GAFTA countries for the same period, reaching JD348 million, compared to JD369 million against last year. According to statistical figures, the volume of Jordan-GAFTA trade for the same period stood at JD1.378 billion, compared to the same period last year, when it stood at JD1.287 billion. Saudi Arabia accounted for the largest share of national exports to these countries by the end of February of 2025, amounting to some JD141 million, marking an increase of 6.8 per cent, while Iraq followed with JD136 million, constituting an increase of 15.3 per cent. National exports also witnessed "significant" growth with Syria, reaching JD35 million, marking an increase of 483.3 per cent. Also, Saudi Arabia topped exporters to Jordan, as the Kingdom's imports from Saudi Arabia amounted to JD519 million, which brings Jordan's trade deficit with Saudi Arabia to JD378 million at the end of February of 2025. Jordanian exports to GAFTA countries are mainly fertilisers, medicines, agricultural fresh and frozen products, skin care products, food preparations, furniture, fabrics, and garments. Meanwhile, the Kingdom's imports are primarily crude oil and its derivatives, jewellery, food products, plastic items, titanium dioxide, polyethylene, polystyrene, and iron. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan News
11-05-2025
- Business
- Jordan News
Jordan's Exports to Greater Arab Free Trade Area Reach JD 515 Million by End of February - Jordan News
Jordan's national exports to countries within the Greater Arab Free Trade Area (GAFTA) grew by 12.2% in the first two months of 2025, reaching JD 515 million, compared to JD 459 million during the same period last year. اضافة اعلان Meanwhile, imports from GAFTA countries rose by 4.2%, totaling JD 863 million by the end of February 2025, up from JD 828 million during the same timeframe in 2024, according to data from the Department of Statistics. As a result, Jordan's trade deficit with GAFTA countries declined to JD 348 million, down from JD 369 million in the same period last year. The total trade volume between Jordan and GAFTA countries increased to JD 1.378 billion, compared to JD 1.287 billion a year earlier. Saudi Arabia remained Jordan's top export destination within GAFTA, accounting for JD 141 million in exports (up 6.8%), followed by Iraq with JD 136 million (up 15.3%). Exports to Syria saw a remarkable jump, reaching JD 35 million, an increase of 483.3%. On the import side, Saudi Arabia was also Jordan's top supplier, with imports valued at JD 519 million, resulting in a trade deficit of JD 378 million with the Kingdom by the end of February. Jordan's key exports to GAFTA countries include fertilizers, pharmaceuticals, agricultural products (fresh/frozen fruits and vegetables), salts, skincare products, processed foods, furniture, textiles, clothing, and paints. Main imports from GAFTA states consist of crude oil and derivatives, jewelry, food products, plastic sheets and films, titanium oxide, polyethylene, polystyrene, and iron and steel products, among others. GAFTA, established in January 2005, is a regional economic bloc aimed at fostering economic integration and low-tariff trade among Arab nations. It currently includes 18 member states.
Arab News
11-05-2025
- Business
- Arab News
Jordan's exports to GAFTA countries rise 12.2%
RIYADH: Jordan's exports to countries in the Greater Arab Free Trade Area rose 12.2 percent year on year to 515 million Jordanian dinars ($726 million) by the end of February, amid strong demand for key goods. According to official statistics reported by the Jordan News Agency, or Petra, the rise from 459 million dinars in the same period of 2024 was driven by increased shipments of fertilizers, medicines, and fresh and frozen agricultural products. Additional contributors included skincare items, food preparations, and furniture, as well as fabrics, garments, and other goods. The latest trade data aligns with broader optimism about Jordan's economic outlook, with Central Bank Governor Adel Sharkas saying in March that the country's economy is projected to grow 2.7 percent in 2025, accelerating to 3.5 percent in the medium term. 'Foreign trade data from the Department of Statistics (DoS), monitored by 'Petra,' showed a decline in the Kingdom's (Jordan's) trade deficit with the GAFTA countries for the same period, reaching JD348 million, compared to JD369 million against last year,' the Petra report stated. Established in January 2005, GAFTA operates as an economic alliance with the objective of promoting trade and economic unity among Arab nations. Comprising 18 member states, GAFTA is dedicated to bolstering regional trade by lowering customs tariffs. GAFTA imports into Jordan also climbed, rising 4.2 percent to 863 million dinars from 828 million dinars, bringing the total trade volume to 1.37 billion dinars—up from 1.28 billion dinars a year earlier. Jordan's imports primarily include crude oil and its derivatives, jewelry, and food products. Other major import categories are plastic items, titanium dioxide, and polyethylene, as well as polystyrene, iron, and various other goods. Saudi Arabia remained Jordan's top regional trade partner, accounting for 141 million dinars in exports — a 6.8 percent rise—and 519 million dinars in imports, resulting in a bilateral deficit of 378 million dinars. Iraq followed with 136 million dinars in Jordanian exports, up 15.3 percent, while trade with Syria surged to 35 million dinars — a 483.3 percent jump from the previous year. In March, Sharkas shed light on how inflation in Jordan reached 2.2 percent in the first two months of this year and is expected to stabilize at 2 percent for 2025.
Jordan Times
10-05-2025
- Business
- Jordan Times
Jordan's exports to GAFTA countries rise by 12.2% by end of February
National exports to the Greater Arab Free Trade Area countries grow by 12.2 per cent by the end of February 2025, reaching JD515 million, compared to JD459 million for the same period last year (Petra photo) AMMAN — National exports to the Greater Arab Free Trade Area (GAFTA) countries grew by 12.2 per cent by the end of February 2025, reaching JD515 million, compared to JD459 million for the same period last year. Meanwhile, the Kingdom's imports from the GAFTA nations increased by 4.2 per cent for the same period, recording JD863 million, compared to JD828 million last year, the Jordan News Agency, Petra, reported. Foreign trade data from the Department of Statistics (DoS) showed a decline in the Kingdom's trade deficit with the GAFTA countries for the same period, reaching JD348 million, compared to JD369 million against last year. According to statistical figures, the volume of Jordan-GAFTA trade for the same period stood at JD1.378 billion, compared to the same period last year, when it stood at JD1.287 billion. Saudi Arabia accounted for the largest share of national exports to these countries by the end of February of 2025, amounting to some JD141 million, marking an increase of 6.8 per cent, while Iraq followed with JD136 million, constituting an increase of 15.3 per cent. National exports also witnessed "significant" growth with Syria, reaching JD35 million, marking an increase of 483.3 per cent. Also, Saudi Arabia topped exporters to Jordan, as the Kingdom's imports from Saudi Arabia amounted to JD519 million, which brings Jordan's trade deficit with Saudi Arabia to JD378 million at the end of February of 2025. Jordanian exports to GAFTA countries are mainly fertilisers, medicines, agricultural fresh and frozen products, skin care products, food preparations, furniture, fabrics, and garments. Meanwhile, the Kingdom's imports are primarily crude oil and its derivatives, jewellery, food products, plastic items, titanium dioxide, polyethylene, polystyrene, and iron.
