Latest news with #YarubQudah
Ammon
4 days ago
- Business
- Ammon
New US tariffs on Jordanian imports take effect
Ammon News - New U.S. tariffs on Jordanian imports of 15% will take effect on Thursday, which is the "lowest additional tariff rate" among countries with a trade surplus with the United States. In a previous statement, a source confirmed that this percentage, which Jordan obtained after months on intensive negotiations between Jordan and the USA, preserves the competitiveness of Jordanian exports in US markets. On August 1, the White House unveiled a new set of tariffs targeting over 67 countries, including Jordan, with rates ranging from 10% to 41% based on trade dynamics and the state of bilateral negotiations. US President Donald Trump signed an executive order on July 31, 2025, setting the tariffs to take effect on August 7, 2025, seven days after the order was issued, to allow a grace period for customs procedures. Customs duties included Jordan at 15%, Tunisia at 25%, Algeria and Libya at 30%, Iraq at 35%, and Syria at 41%. The 15% rate is part of a package of countries that are treated the same way, such as the European Union, Japan, South Korea, and others, whether because of the size of the trade deficit or because the countries have not concluded allocation agreements. Since 2001, Jordan has benefited from a Free Trade Agreement (FTA) with the United States, allowing a portion of its exports to enter the U.S. market duty-free. Minister of Industry and Trade Yarub Qudah said that Jordan has been negotiating with the United states over the past few months, obtaining the lowest tariff increase among countries withe free trade agreements or with a trade surplus. The additional US customs duties gave Jordan a competitive advantage, Qudah explained, adding: "When the Kingdom is subject to a 15% duty, while other countries competing with it in the US market are subject to higher rates, this strengthens the competitive advantage of Jordanian products compared to what they had previously." He emphasized that the free trade agreement between Jordan and the United States remains in place, and that it is what provided this preferential advantage. He explained that customs duties imposed on most countries around the world ranged between 15% and 40%, with Jordan receiving the lowest rate. Additionally, the minister emphasized the importance of Jordan obtaining the lowest customs duty rates for industries destined for the US market, noting that this enhances export opportunities to this market and increases the Kingdom's investment attractiveness.
Zawya
7 days ago
- Business
- Zawya
Company registrations in Jordan increased by 39% since 2019
AMMAN — Minister of Industry, Trade, and Supply Yarub Qudah said on Sunday that the number of companies registered in Jordan during the first seven months of 2025 increased by 17 per cent compared with the same period in 2024, and by 39 per cent compared with 2019. According to statistical data from the Companies Control Department, a total of 4,224 companies were registered in the first seven months of this year, with a combined capital exceeding JD 287 million. Qudah noted that using 2019 as a baseline underscores a sustained upward trend in company registrations, despite the economic challenges posed by the COVID-19 pandemic, the Jordan News Agency, Petra, reported. Limited liability companies (LLCs) represented the largest share of new registrations, with 3,021 companies accounting for 71.5 per cent of the total and combined capital surpassing JD 84 million. Meanwhile, private shareholding companies led in terms of capital investment, with a total exceeding JD 155 million. The minister also highlighted a 'significant' decline in company closures and dissolutions, which dropped by 39 per cent compared with the same period last year and by 78 per cent relative to 2019. A total of 651 companies closed during the reporting period, down from 1,073 in 2024 and 2,985 in 2019. Additionally, approximately 3,000 companies regularised their status as part of ongoing efforts by the Companies Control Department to address inactive firms. Qudah pointed to a surge in digital services, with 385,224 electronic transactions completed in the first seven months of 2025, an 81 per cent increase from 212,576 transactions during the same period last year. Electronic payments also rose by 35 per cent, reaching JD 11.1 million, up from JD 8.2 million in 2024. The majority of newly registered companies were concentrated in sectors such as import/export, marketing services, management consulting, food services, real estate and housing, information technology, brokerage, trade, packaging, and logistics, Petra reported. The minister emphasised that the growth in company registrations reflects Jordan's increasing investment appeal, driven by the Investment Environment Law, streamlined business procedures, and the country's political stability and security. He also credited the strength of the banking sector and the support provided to investors by relevant institutions. Qudah added that these figures demonstrate the resilience of the Jordanian economy in the face of regional and global geopolitical challenges. He also said that the Economic Modernisation Vision and its executive programme include numerous investment-oriented targets, supported by initiatives to encourage investment, simplify procedures, and accelerate processing times. Most company registration steps are now fully automated, with investors required to visit the department only to sign final documents, he added. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Ammon
02-08-2025
- Business
- Ammon
U.S. customs tariffs give Jordan 'competitive' edge-Minister
Ammon News - Minister of Industry, Trade and Supply Yarub Qudah said additional U.S. customs tariffs have given Jordan "a competitive" advantage. The minister noted when 15% duties are imposed on Jordan, other countries competing in the U.S. market face higher rates, which enhances the "competitive" advantage of Jordanian products. In a statement to Al Mamlaka TV Friday evening, he stated Jordan has entered into negotiations with the United States over the past few months and obtained the lowest rate of customs duty increases globally that have free trade agreements with the United States or with a trade surplus. The Jordan-U.S. free trade agreement provided this "preferential advantage," he said, indicating that the customs duties imposed on most countries across the world ranged between 15%-40%, while Jordan obtained the lowest rate. Qudah indicated that the tariffs previously imposed on Jordan were "zero" and are now 15%. For other countries, the new tariffs are added to the previous duties, which has "clearly made a positive difference in Jordan's favor in many sectors and has contributed to enhancing its competitiveness."
Jordan News
02-08-2025
- Business
- Jordan News
Government on 'Trump Tariffs': Clear Positive Advantage for Jordan - Jordan News
Minister of Industry, Trade, and Supply, Yarub Qudah, stated on Friday that Jordan has recently engaged in negotiations with the United States, resulting in the country receiving the lowest customs tariff increase among nations that have free trade agreements with the U.S. or those with a trade surplus. اضافة اعلان Speaking to Al-Mamlaka TV, Qudah explained that the additional U.S. tariffs have, in fact, granted Jordan a competitive advantage. He noted that when a 15% tariff is imposed on Jordan while higher rates are applied to competing countries in the U.S. market, this enhances the competitiveness of Jordanian products compared to previous conditions. He emphasized that the Free Trade Agreement (FTA) between Jordan and the U.S. remains in effect and is the basis for this preferential treatment. While most countries saw new tariffs ranging between 15% and 40%, Jordan received the lowest rate. Qudah clarified that these new tariffs are added to the original tariff rates in place prior to the decision. Previously, Jordan faced a 0% tariff, which has now risen to 15%. In contrast, for other countries, the new tariffs are added on top of existing ones—creating a clear and positive difference in favor of Jordan across various sectors and boosting its competitive capacity. A government source also stated that Jordan secured the lowest additional customs tariff among countries with a trade surplus with the United States, thus preserving the competitiveness of Jordanian exports in the American market. The source explained that after months of intensive negotiations between Jordan and the U.S., the additional tariffs on Jordanian exports were reduced to 15%, reflecting the strength of the economic partnership between the two nations. He added that Jordan benefits from an added advantage over other countries with trade surpluses with the U.S., thanks to the FTA. This means that Jordanian exports will only be subject to the new 15% tariff (having previously been exempt), unlike other countries which will bear the new tariffs in addition to existing ones.
Zawya
16-07-2025
- Business
- Zawya
Amman hosts Jordanian-Syrian talks to boost economic cooperation
AMMAN — The Jordanian-Syrian Economic and Trade Committee convened in Amman on Tuesday, co-chaired by Minister of Industry, Trade and Supply Yarub Qudah and Syrian Minister of Economy and Foreign Trade Mohammad Samer Khalil. Discussions focused on enhancing cooperation in key areas, including transport, agriculture, customs, standards and metrology, food and drug regulation, industrial cities, and free zones, according to the Jordan News Agency, Petra. Both sides reiterated their commitment to advancing bilateral ties and emphasised the need to mobilise all available resources to overcome obstacles hindering trade, in line with the outcomes of the High Coordination Council meeting held in Damascus, co-chaired by the foreign ministers of both countries. Qudah highlighted the importance of holding regular meetings of the joint committee, noting that such engagements reflect the countries' commitment to expanding cooperation frameworks and addressing challenges arising from the current exceptional international circumstances. Khalil, for his part, described the committee's work as a reflection of the strong ties between the two countries and a practical step toward implementing previously agreed-upon decisions. Secretary-General of the Ministry of Industry and Trade Dana Zoubi, who led the Jordanian delegation in the preparatory meetings, and her Syrian counterpart, Deputy Minister of Economy and Foreign Trade Basel Abdul Hanan, presented a briefing on the outcomes of the sessions concluded on Monday. Key outcomes included the formation of specialised technical committees to ensure continuous coordination and resolve trade-related issues, as well as a joint review of the bilateral free trade agreement with the goal of reactivation through the development of mutually prioritised product lists. The two sides also reaffirmed agreements from recent land transport technical committee meetings held in Amman. Additional outcomes included the reopening of the Bab Al Hawa crossing for transit trade and the completion of maintenance on the Syrian section of the Hejaz Railway, both seen as important steps towards facilitating smoother cross-border trade and regional connectivity. The two sides also agreed to launch a comprehensive capacity-building plan for Syria, including training in consumer protection, market monitoring, competition, industrial property registration, supply systems, warehouse management, issuance of electronic certificates of origin, industrial sector databases, digital transformation, food and drug regulation, and metrology. The committee also discussed steps to expedite the registration of Jordanian pharmaceuticals in Syria. Jordan expressed its readiness to provide technical training and share expertise in regulatory oversight, inspection, horizontal storage, and digital transformation. The Ministry of Industry and Trade is currently developing a digital product to document Jordan's experience in training and e-automation. Both sides stressed the importance of developing unified standards and agreed to establish a timeline for mutual recognition of technical specifications. It was also agreed that certificates of conformity issued by the Jordan Standards and Metrology Organisation would be accepted for Jordanian products entering the Syrian market. The two countries also exchanged indicative lists of agricultural products suitable for mutual trade, along with proposed export timelines aligned with each country's production seasons. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
