Jordan and Iraq have agreed on a number of mechanisms to boost bilateral economic cooperation, stimulate the private sector to implement investment projects, and facilitate land transportation in a way that serves both countries’ interests.
This came during the Jordanian-Iraqi Business Forum, which was held at Jordan Chamber of Industry in Amman on Saturday.
The forum aimed at discussing trade and investment relations in the presence of Jordanian Minister of Industry, Trade and Supply Tareq Hammouri and Iraqi Minister of Industry and Minerals Saleh Jubouri.
Hammouri said both parties have agreed that Iraqi goods imported through the Aqaba Port will be offered discounted port rates up to 75 percent.
Read More
Jordan to Receive Discounted Oil From Iraq
More Facilitation Announced to Boost Trade Between Iraq, Jordan
Jordan to Receive Discounted Oil From Iraq
More Facilitation Announced to Boost Trade Between Iraq, Jordan
They also agreed to change the process of exchanging goods from Trebil and convert them to direct transport from the source to the consumer in which the Iraqi tanker can enter Jordan without emptying its goods at the border crossing, reducing the cost and transport duration.
“Jordan would supply Iraq with electricity via a joint grid, the building of which would begin in the next three months, with deliveries to begin within two years,” Hammouri noted.
Jubouri, for his part, said they agreed that Iraq would sell Jordan 10,000 barrels of Kirkuk oil per day, taking into consideration the transportation cost and different specifications in calculating the oil price.
He stressed that this will open the door to export Iraqi oil to Jordan and contribute to increasing the transportation movement and trucks in both countries.
