Jordan Times
Thursday, February 3, 2005
MoU upgrades Jordan-US
cooperation to enhance trade and investments
By Rami Abdelrahman
AMMAN — The US Chamber of Commerce in Jordan (AmCham - JABA) and the Economic
and Commercial Bureau (ECB) at the Jordanian embassy in the Washington signed a
memorandum of understanding (MoU) on Wednesday to upgrade their cooperation for
developing trade relations and exchanging investments between the Kingdom and
the US.
Both parties have cooperated in many areas in the past but, according to AmCham
Chairman Azzam Shuwaihat, this agreement is meant to further develop cooperation
for providing business communities in both countries with improved and
value-added services.
“The MoU aims at assisting investors, manufacturers, service providers and
traders to capitalise on the available opportunities by providing coordinated
support for official government authorities to facilitate the exchange of
programme and policy implementation and enhancing the resource-bases of market
research, product development, investment information and project identification
and analysis,” stated an AmCham press release.
According to AmCham CEO Rose Alissi-Wazani, both entities will use each others
offices, exchange information and make necessary arrangements to advance the
development of trade and investment between both countries.
Jordan's ambassador to the US, Karim Kawar, indicated that the continuous
changes in the international business scene create opportunities which can be
seized with more cooperation between Jordanian entities whether in the country
or outside the country.
The head of ECB, Maher Matalka, described the MoU as only a beginning for more
cooperation between the embassy and the private sector which, he noted, should
make similar initiatives to help itself improve its trade exchange with the US.
He said that the Jordanian proposal for a quicker implementation of customs
reduction on textiles under the Jordan-US Free Trade Agreement is awaiting
approval from the concerned US departments.
However, both Kawar and Matalka stressed that Jordanian businesses should
diversify their exports instead of relying only on garments and textiles.
Shuwaihat suggested that Jordanian businesses should import more US products,
especially high-tech goods that can improve the quality of Jordanian products.
Kawar and Matalka had previously requested further cooperation between the
embassy and the Ministry of Industry and Trade in highlighting business benefits
provided by the Jordan-US Free Trade Agreement which eliminates and reduces
customs duties on Jordanian exports to the US.