Jordanian industrial expo kicks off in Jenin

AMMAN — The Jordanian Industries Exhibition opened in Palestine's Jenin on Monday with the participation of 50 industrial institutions from a variety of sectors.

During the opening ceremony, Minister of Industry, Trade and Supply Tarek Hammouri expressed the Kingdom's keenness to boost trade volume between the two sides, noting that Jordan and Palestine’s trade has increased.  Despite all challenges, the political will for boosting trade exchange is present, the minister said.

Hammouri added that the joint higher committee’s meetings, held earlier this month, show that the two sides see eye to eye on increasing trade exchange, seizing opportunities in international markets and achieving integration in all fields, the Jordan News Agency, Petra, reported.

Palestinian Minister of National Economy Khaled Osaily, who attended the ceremony, highlighted intensive efforts aimed at increasing trade exchange to $1 billion, adding that the two sides have agreed on establishing a joint company to manage the Jordan-Palestine free zone and provide services.  

Holding the expo in Jenin, the sole free industrial zone in Palestine, is a message of support that reflects Palestine’s detachment from Israel’s economy and the Kingdom's insistence to be present in Palestine, which is suffering from an economic blockade, forced displacement and demolitions, Osaily added.

Jordanian-Palestinian trade exchange reached $230 million in 2017, with Jordan's exports amounting to $153 million, while Palestinian imports to the Kingdom were estimated at $77 million.

About 63 per cent of direct foreign investments in Palestine focused on financial intermediary, while Jordanian projects constituted 81.3 per cent of the investments, Petra added.