Latest news with #HamdiTabbaa
Jordan News
05-08-2025
- Business
- Jordan News
Jordan Secures Strategic Trade Advantage in U.S. Market Amid Global Tariff Revisions - Jordan News
Jordan has emerged with a new competitive edge in the U.S. market following recent global tariff adjustments, thanks to proactive economic diplomacy and long-standing strategic trade relations with the United States. اضافة اعلان Despite new tariffs imposed by the U.S. on imports from 69 countries, Jordanian exports have largely been shielded from steep increases. The Kingdom retained one of the lowest applied tariff rates, a development experts consider a significant diplomatic and economic win. Economic analysts agree that Jordan's ability to mitigate the impact of the new U.S. customs policy presents a valuable opportunity to expand its market share. The outcome reflects the success of coordinated efforts by Jordanian institutions, including the Ministry of Foreign Affairs and the Ministry of Industry, Trade, and Supply, to preserve favorable trade terms. "The newly imposed tariffs on Jordanian goods are among the lowest globally, which underscores the strength of our trade policy and commitment to maintaining a competitive economy," said Hamdi Tabbaa, President of the Jordanian Businessmen Association. "This will ease the burden on the private sector and help maintain price stability." Tabbaa emphasized the importance of continued dialogue between the public and private sectors to monitor the long-term implications of the new policy and maintain the sustainability of Jordan's export momentum. Muath Al-Saaydeh, CEO of Pine Tree, a major Jordanian exporter to the U.S., described the reduced tariff level as a notable achievement. "Despite the global changes, Jordanian products are still subject to a 15% rate, and many goods remain at zero tariff thanks to the U.S.-Jordan Free Trade Agreement," he said. Signed in 2000 and implemented in 2001, the agreement offers full customs exemptions for most Jordanian exports, particularly in the textile sector, one of the Kingdom's most prominent export industries. Al-Saaydeh added that the continued enforcement of the free trade agreement means new tariffs are only partially applicable and will not affect the baseline zero-duty rate for covered goods. Samer Judeh, Chairman of the American Chamber of Commerce in Jordan, said the chamber is actively working with Jordanian companies to help them capitalize on the new conditions. "The changes give Jordan a strategic opening to enhance its role in U.S. supply chains and attract foreign investment aimed at export production," he noted. Tayseer Younis, Vice President of the Jordanian-American Business Council, echoed this sentiment, emphasizing that Jordan's relatively low tariff impact compared to other countries is a clear signal of its deep and enduring trade relationship with the U.S. He called for a national task force to craft a strategic roadmap for maximizing the benefits of the trade agreement, encouraging joint ventures with American and Asian companies, and positioning Jordan as a gateway for regional and international manufacturing and distribution. "The new tariff system can turn Jordan into a preferred production base," Dr. Younis said. "With modern logistics and digital supply chain management, we can build flexible, efficient trade routes linking Asia, Europe, and the Americas through Jordan." According to Ihab Qadri, Representative of the Leather and Garment Sector at the Jordan Chamber of Industry, the revisions particularly benefit the apparel and leather sectors. "Jordan's competitive advantage lies not only in tariff preferences but also in product quality and stable trade relations with the U.S.," he said. Qadri warned that global customs schedules are dynamic and require close coordination between the government and industrial stakeholders to maintain responsiveness and protect market gains. Economist Hussam Ayesh estimates the new tariff reductions have cut Jordan's export-related duties to the U.S. from JOD 442 million to JOD 320 million, a savings of over JOD 110 million. He noted that the transition from a quota-based system to a competitive tariff regime could further enhance Jordan's export competitiveness, particularly in textiles. "This is a chance to strengthen Jordan's economic flexibility and create more jobs," Ayesh said. "The U.S. remains one of our most successful export markets, and with smart policy, we can turn global shifts into sustainable national gains."
Zawya
28-05-2025
- Business
- Zawya
Jordanian-Turkish Business Council highlights need to bolster trade, investment ties
AMMAN — President of the Jordanian Businessmen Association (JBA) Hamdi Tabbaa on Tuesday underscored the importance of enhancing economic and investment ties between Jordan and Turkey. Tabbaa made his remarks during the Jordanian-Turkish Business Council meeting that was organised in cooperation with the Foreign Economic Relations Board of Turkey (DEIK), the Jordan News Agency, Petra, reported. He stressed the need to expand trade cooperation and activate the role of the council in supporting the private sector and promoting mutual investments. The JBA president noted that trade exchange between the two countries in 2024 reached about $1 billion, with Jordanian imports from Turkey totalling about $815 million. Exports to Turkey stood at $106 million, 12 per cent of the total trade volume, he noted, calling for redressing this imbalance by enhancing Jordanian exports to the Turkish market. Tabbaa urged Turkish business leaders to explore investment opportunities in Jordan and intensify coordination and engagement between the two countries' private sectors. He highlighted Jordan's ongoing implementation of major projects under the Economic Modernisation Vision (EMV), offering opportunities in key sectors such as ICT, logistics, tourism, industry, agriculture, healthcare, energy and mining, in addition to public-private partnership ventures. Levent Birant, the Turkish head of the council, emphasised the 'strong' economic and trade ties between Jordan and Turkey and reaffirmed the council's commitment to sustaining "activation" of the joint free trade agreement. He called for building on existing cooperation to boost business relations between Amman and Ankara. Yusri Tahboub, the Jordanian head of the council, highlighted efforts to reactivate the FTA with Turkey to align with Jordan's economic openness goals. Tahboub said that the council is focused on enhancing investment incentives and fostering the exchange of opportunities in priority sectors, especially industry, medical tourism, energy and mining. President of the Turkish-Jordanian Businessmen Association Salim Dada said that the association was established two years ago to boost economic ties and strategic cooperation between the business communities of both countries. He emphasised Jordan's position as a "promising" investment hub in the region due to its strategic location, political stability, skilled workforce and opportunities in renewable energy, tourism, ICT, pharmaceuticals, manufacturing and logistics. He added that Jordan's competitive advantages and favourable business environment bolstered by free trade agreements with the US, the European Union, Canada and several Arab and Asian countries make it a "gateway" to markets in Iraq and the Gulf. Dada also highlighted Jordan's "investor-friendly" legal framework, which ensures "equal" treatment for local and foreign investors and promotes innovation and entrepreneurship. For his part, Turkish Ambassador to Jordan Yakup Caymazoglu announced that meetings of the Jordanian-Turkish Joint Economic Committee will convene in Amman this October, opening further avenues for cooperation and addressing challenges facing businesspeople. Caymazoglu noted that both countries and the region face "shared" challenges due to rising costs stemming from developments in the Gaza Strip and the West Bank, as well as internal issues in Syria and Iraq. He stressed that these circumstances also present new opportunities for cooperation, particularly given the political alignment between Jordan and Turkey. Caymazoglu pointed to recent "positive" developments, including the lifting of the US and European sanctions on Syria, which could pave the way for joint Jordanian-Turkish ventures targeting Syrian and regional markets. He expressed optimism about forming a "strong" economic partnership, citing Jordan's industrial capacity, strategic investment zones, and customs advantages that support export access to markets in the US and Canada. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
15-05-2025
- Business
- Zawya
JBA, Avedissian discuss establishment of Jordanian-Cypriot Business Council
AMMAN — Chairman of the Jordanian Businessmen Association (JBA), Hamdi Tabbaa, on Wednesday discussed with Cyprus Ambassador to Jordan, Sevag Avedissian, the establishment of a Jordanian-Cypriot Business Council to enhance opportunities for economic cooperation. In a JBA statement, Tabbaa emphasised the deep-rooted, strategic bilateral relations, noting the association's keenness to enhance economic, trade and investment cooperation to achieve the "greatest possible" benefits. He said this prospect emerges, given the opportunity to explore various aspects of mutual partnership that would stimulate growth, enhance trade and provide new investment opportunities, the Jordan News Agency, Petra, reported. Tabbaa stated investment projects in the Kingdom enjoy "significant" privileges for investors and cover numerous economic sectors, making them "effective" contributors to achieve goals of the Economic Modernisation Vision (EMV). He also called for intensifying meetings and exchanging "promising" investment opportunities among the two countries' businesspeople and the private sector. To boost economic collaboration, Tabbaa stressed the importance of developing trade exchange mechanisms and mutual regulatory legislation to contribute to increase volume of trade exchange and joint investments. The Cyprus ambassador welcomed establishment of the joint council, which would contribute to strengthening the Jordanian-Cypriot business people's economic, trade and investment ties and support the two countries' private sector cooperation. The diplomat noted Jordan has "promising" investment opportunities in numerous economic sectors, mainly in the pharmaceutical, food, real estate, contracting and information technology sectors. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
14-05-2025
- Business
- Jordan Times
JBA, Avedissian discuss establishment of Jordanian-Cypriot Business Council
Chairman of the Jordanian Businessmen Association Hamdi Tabbaa and Cyprus Ambassador to Jordan Sevag Avedissian discuss establishment of a Jordanian-Cypriot Business Council to enhance cooperation (Petra photo) AMMAN — Chairman of the Jordanian Businessmen Association (JBA), Hamdi Tabbaa, on Wednesday discussed with Cyprus Ambassador to Jordan, Sevag Avedissian, the establishment of a Jordanian-Cypriot Business Council to enhance opportunities for economic cooperation. In a JBA statement, Tabbaa emphasised the deep-rooted, strategic bilateral relations, noting the association's keenness to enhance economic, trade and investment cooperation to achieve the "greatest possible" benefits. He said this prospect emerges, given the opportunity to explore various aspects of mutual partnership that would stimulate growth, enhance trade and provide new investment opportunities, the Jordan News Agency, Petra, reported. Tabbaa stated investment projects in the Kingdom enjoy "significant" privileges for investors and cover numerous economic sectors, making them "effective" contributors to achieve goals of the Economic Modernisation Vision (EMV). He also called for intensifying meetings and exchanging "promising" investment opportunities among the two countries' businesspeople and the private sector. To boost economic collaboration, Tabbaa stressed the importance of developing trade exchange mechanisms and mutual regulatory legislation to contribute to increase volume of trade exchange and joint investments. The Cyprus ambassador welcomed establishment of the joint council, which would contribute to strengthening the Jordanian-Cypriot business people's economic, trade and investment ties and support the two countries' private sector cooperation. The diplomat noted Jordan has "promising" investment opportunities in numerous economic sectors, mainly in the pharmaceutical, food, real estate, contracting and information technology sectors.
Jordan Times
14-04-2025
- Business
- Jordan Times
NAMIC approves JD4m capital increase, plans expansion to JD40m
The National Arab Mining and Transformation Industries Company on Monday approves the first phase of a capital increase amounting to JD4 million (Photo Courtesy of NAMIC) AMMAN — The Board of Directors of the National Arab Mining and Transformation Industries Company (NAMIC) on Monday approved the first phase of a capital increase amounting to JD4 million. The company said that shareholders and board members, during an extraordinary meeting, agreed to increase the company's capital in two phases, the Jordan News Agency, Petra, reported. The first phase, limited to current founding shareholders, will raise the capital to JD5.4 million over a two-month period. The second phase, set to commence immediately after the first, will increase the capital to JD40 million an additional JD34.6 million through a private subscription that includes both existing and new shareholders. The meeting was chaired by JBA President Hamdi Tabbaa and attended by CEO Ayman Ayyash and all board members. NAMIC is a 'pioneering' initiative established by Jordanian and Arab business leaders to contribute to the implementation of the Kingdom's Economic Modernisation Vision, with a particular focus on advancing the mining sector and transformation industries.
