Iraq 's economy
opens the door to 300 Jordanian goods and exempts them from customs
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2 hours ago
The Jordanian government approved the exemption of more than 300 Jordanian goods from customs duties.
The judges said in a statement to the newspaper "Arab New" that the exemption of these goods from customs duties came at the request of Jordan earlier this year 2017, under the bilateral free trade agreement signed between the two countries, which is the only between Iraq and an Arab country.
He pointed out that the Iraqi side, briefed on the reality of the industrial sectors of Jordan, wishing to export to Iraq, as the goods that will be issued and will benefit from the decision is of Jordanian origin.
Iraq has imposed customs duties on all imports from different countries by 30%, as of last year, as part of a plan aimed at the Iraqi government to protect domestic products and increase tax revenues.
The Minister of Industry and Trade of Jordan expected that the exemption of goods from customs will contribute to increasing Jordan's exports to the Iraqi market, which has declined significantly in the last five years due to the security situation in Iraq and the closure of land borders between the two countries.
The border crossing between Iraq and Jordan was reopened at the end of last August, after being completely entangled since 2014 because of attacks on a large number of western Iraq before it was liberated.
The Jordanian minister said that Iraq is one of the most important export markets for Jordanian products, pointing out that many Jordanian factories were established for export to the Iraqi market.
Jordanian exports to Iraq last year amounted to about $ 695 million, while before the unrest it was about $ 2 billion.
Jordanian and Iraqi trucks exchange cargo inside the trade exchange. Jordanian Minister of Industry said in a press statement last November that Iraqi trucks will not be allowed to enter Jordanian territory until after the security reasons have completely disappeared.
Jordan's exports to Iraq during the first five months of this year amounted to $ 200 million, while imports of Iraqi goods amounted to $ 700,000.[You must be registered and logged in to see this link.]