Jordan and the United States sign a mutual trade agreement that reduces duties to 10%

Washington, July 21 / WAM / The Hashemite Kingdom of Jordan and the United States of America signed, today, Tuesday in Washington, a mutual trade agreement to strengthen bilateral economic relations and facilitate the movement of goods.

The Jordanian side was represented in the signing by the Minister of Industry, Trade and Supply, Eng. Yaroub Al-Qudah, while the American side was represented by Minister Jamison Jarir, Trade Representative of the United States of America.

The new agreement culminates consultations that lasted for nearly a year to build on the 2001 Free Trade Agreement, under which Washington committed to reducing reciprocal customs duties imposed on Jordanian goods to 10%, and granting the clothing sector preferential access.

This trend supports Jordanian exports to the American market, which recorded 595 million dinars during the first third of this year. In return, Jordan will continue to provide customs exemptions for American products, with a full commitment not to impose taxes or fees on digital services.

The Jordan News Agency reported that the language of numbers reflects the strength of the strategic and commercial partnership between the two countries. Royal Jordanian Airlines concluded deals to purchase six Boeing 787-9 aircraft worth $1.4 billion, in addition to signing additional aircraft leasing contracts worth $500 million. The Jordanian Pharmaceutical Industries Company “Hikma” also intends to pump investments worth one billion dollars into America by 2030, coinciding with Jordanian companies seeking to purchase American raw materials worth more than $300 million annually.

In addition, the agreement includes comprehensive provisions to ensure fair practices, protect intellectual property, facilitate customs procedures, as well as enhance the flexibility of joint supply chains.

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