Jordanian industries expand global reach to over 140 countries — minister

AMMAN — Minister of Industry, Trade and Supply Yousef Shamali announced on Tuesday that Jordanian industries have expanded their reach to over 140 countries worldwide.

Shamali’s remarks came at the Government Communication Forum, during which he discussed the ministry’s strategies for diversifying commodities and enhancing regional economic cooperation.

The forum addressed a variety of topics, including food security, strategic commodity stocks, and measures to mitigate the impact of rising freight costs on the private sector, in addition to the Trade Ministry’s preparations for the upcoming holy month of Ramadan, with a focus on economic sector support programmes, national exports, and foreign trade.

Marking the 25th year of His Majesty King Abdullah's reign, Shamali emphasised the significant milestones and achievements in the fields of industry and trade, noting that the industrial sector has seen substantial growth, contributing 25 per cent of the national GDP.

Shamali also said that 95 per cent of national exports originate from the Kingdom’s industrial sector, which also contributes around $6.5 billion to the hard currency entering Jordan.

Reflecting on the growth of industrial establishments, Shamali said that the total number has risen from 4,000 in 1999 to 18,000 in 2022.

He also outlined the ministry’s policies for managing price volatility and understanding the purchasing power and consumer price index.

Shamali acknowledged the continuous support from His Majesty King Abdullah to the commercial sector, which currently boasts 120,000 enterprises across the Kingdom.

He also said that Jordan became a member of the World Trade Organisation in 2000, enabling it to sign significant deals and agreements with major global economies, adding that while Jordanian exports were valued at JD10 million in 1999, they now exceed $2.3 billion in the US market alone.

Regarding essential grain supplies, Shamali said that the storage capacity for wheat and barley has increased from 490,000 tonnes in 1999 to nearly 2 million tonnes today, noting that there are currently 15 mills and 2,200 bakeries across the country.

Shamali also noted that the total number of individual organisations has grown from 214,000 in 2000 to 731,000 today, adding that the number of companies has increased from 43,000 in 2000 to 183,000 across all sectors today.

Shamali also assured that there is a strategic stock of wheat and barley sufficient for 10 months and that all Ramadan essentials are available in "adequate quantities".

For his part, Minister of Government Communications and Government Spokesperson Muhannad Mubaidin said that “the government’s continuous enhancement of market oversight is a key factor to the Kingdom’s economic resilience against external shocks”.