Jordan Times
Sunday, February 5, 2006
King urges partnerships between US-Jordanian textile industrialists
WASHINGTON (Petra) — His Majesty King Abdullah on
Friday urged US investors in the textiles industry to increase their investments
in Jordan through partnerships with local businessmen.
At a meeting here with several leading industrialists in the textile sector, the
King outlined the incentives that Jordan offers to foreign investors, especially
in the clothing sector.
He highlighted the privileges enjoyed by textile manufacturers in the Kingdom's
Qualifying Industrial Zones (QIZs) and the benefits investors can reap from the
Jordan-US Free Trade Agreement (FTA).
He noted that, thanks to QIZs and FTA, Jordan's exports to the US went up from
$13 million in 1999 to nearly $1 billion at present. The bulk of these export,
the King told his audience, comes from the textile and garment industry. Exports
of the sector have a potential to further grow, he said.
He assured the potential investors that Jordan is intensifying efforts to train
Jordanian workers with the aim of increasing their productivity.
Industry and Trade Minister Sharif Zu'bi explained in a presentation the
characteristics of Jordan's investment environment that make the Kingdom a key
regional player in attracting foreign capital.
On the sidelines of the meeting, a cooperation agreement was signed between the
US Association of Importers of Textiles and Apparel and the Jordanian
Association of Texiles and Garment Exporters. Under the deal, the two sides will
exchange know-how and expertise and hold joint meetings and conferences, among
other activities that help promote made-in-Jordan textiles in the US markets.