Jordan Times
Sunday, February 15, 2004
Gov't to reimburse former exporters to Iraq
AMMAN (JT) — The government on Saturday said it would reimburse businesspeople and companies that exported to Iraq under a trade protocol signed between the two countries in the past.Finance Minister Mohammad Abu Hammour said a technical committee in charge of the Jordanian-Iraqi trade protocol would compensate exporters, who filed 550 demands. Abu Hammour urged industrialists and businesspeople to present their complete legal documents to avoid any delay.
Trade under the protocol were interrupted in last March due to the war on Iraq.
Jordan used to import from Iraq 500 million tonnes of oil annually, half of which was at preferential rates, while the other half was paid for in goods exported from the Kingdom. In 2002 the trade protocol between Amman and Baghdad stood at $260 million.
The trade deal between the two countries was an “exception” to the sanctions imposed on Iraq since 1990 and the oil-for-food programme.
The technical committee members include in addition to Abu Hammour, Deputy Prime Minister and Minister of Industry and Trade Mohammad Halaiqa, Minister of Justice and Minister of State for Cabinet Affairs Salah Bashir, Central Bank Governor Umayya Toukan. Meanwhile, the Ministry of Finance yesterday said it set up four committees to study and follow-up on issues concerning investors, employees and work excellence.
The committees would enhance communication and cooperation between the ministry's departments, Abu Hammour said. The departments of customs, land, income tax, sales tax and budget, as well as the Jordan Investment Cooperation will be directly involved in the committees' work.