The Israeli Soleg textile company, a clothing manufacturer, has bought three textile factories in Jordan, reported The Jerusalem Post newspaper, quoting Israel Radio.
Soleg, said the report, purchased the factories for 1.5 million dollars, and gave the Jordanian owners a 15 percent share of Soleg stock.
The Jordanian businessmen agreed, in return, to ensure that Soleg receives 10 million dollars worth of orders from the US market, the report added.
The world's first Qualifying Industrial Zone (QIZ) has been established in Irbid, Jordan, under the framework of the United States-Israel Free-Trade Area Agreement of 1985.
Offering duty-free access to the United States, among other benefits, the production center was established in 1998 under the designation of the US trade representative.
The QIZ is expected to spur the region's apparel and textile exports to the United States – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
