Jordan Turkey Trade Agreement: What You Need to Know

The Jordan Turkey trade agreement, signed in 2011, is a significant milestone in the economic relations between the two countries. The agreement aims to enhance bilateral trade by eliminating tariffs on a range of goods and services and promoting cooperation in various economic sectors.

The Jordan Turkey trade agreement covers a wide range of sectors, including textiles, clothing, agriculture, and food. Under the agreement, Jordan and Turkey agreed to gradually eliminate tariffs on a range of goods, promoting trade between the two countries. The agreement also facilitates the movement of goods, services, capital, and people between the two countries, thus promoting economic growth and development.

The textile and clothing industry is one of the most significant sectors covered by the Jordan Turkey trade agreement. Turkey is one of the world`s largest textile and clothing exporters, with a strong market presence in Europe, Africa, and the Middle East. Jordan, on the other hand, has a growing textile and clothing industry, with an increasing export base to the US and European markets.

The Jordan Turkey trade agreement eliminates tariffs on textile products, creating new opportunities for Jordanian textile and clothing manufacturers to access the Turkish market. It also allows Turkey to benefit from Jordan`s strategic location and lower labor costs.

The agreement also covers the agricultural and food sectors. Jordan is a net food importer, and Turkey is a major global producer of various agricultural products. Under the agreement, Jordanian importers will benefit from lower tariffs on Turkish food and agricultural products, while Turkish importers will gain access to the Jordanian market, promoting food security and economic growth in both countries.

The Jordan Turkey trade agreement is also significant in terms of the political and diplomatic relations between the two countries. Jordan and Turkey have historical ties, dating back to the Ottoman Empire. The trade agreement strengthens these ties, promoting cultural exchange and economic cooperation.

In conclusion, the Jordan Turkey trade agreement is a crucial step towards promoting economic growth and development in the region. By eliminating tariffs and promoting cooperation in various economic sectors, the agreement creates new opportunities for both Jordan and Turkey to grow their economies and enhance their competitiveness in the global market.