Trade exchange between Jordan and the U.S. amounted to $1.2 billion in the first 4 months of 2021, according to Mohammed Bataineh, Chairman of the American Chamber of Commerce in Jordan (AmCham), who indicated that Jordanian exports to U.S. markets in the reporting period hit $420 million.
Despite the fallout from the coronavirus pandemic, Bataineh delivered an upbeat prognosis of the two country’s trade exchange, expecting it to be north of $4.8 billion by the end of the current year. He told Petra on Sunday that U.S.-Jordan trade stood at $3.2 billion in 2020, $1.32 billion of which were Jordanian exports.
The AmCham chairman stressed that the U.S.-Jordan free trade agreement, which was signed in 2000 and came into full effect in 2010, doubled the two-way trade by 800 percent. He explained that the pact strengthened economic ties by eliminating customs duties and taxes, pointing out that it was first free trade agreement signed by the U.S. with An Arab country.
Bataineh noted that textiles, fertilizers, IT services, Dead Sea products, jewelry and foodstuffs are the Kingdom’s top exports to the U.S., while imports center around electrical and electronic parts.
He said that the Chamber, which includes about 250 members representing a third of the national economy, runs a unit dedicated to introducing Jordanian traders to the U.S. market and how to access it. According to Bataineh, the Kingdom now hosts some of the U.S.’s private sector giants, including AES Jordan PSC, AProvimi Jordan – Cargill, Microsoft, Cisco, Del Monte, and others.
“We are working on diversifying exports through the National Tijara (Trade) Coalition, a platform that organizes the Chamber’s work”, the AmCham chairman said, explaining that the coalition seeks to cement bilateral economic relations through targeted programs to promote trade and investment between the two countries, and to link Jordanian companies with U.S. importers.
Source: Jordan News Agency