Jordan, Canada to talk FTA next week
Jordan Times | 11 November 2007
Jordan, Canada to talk FTA next week
AMMAN (JT) — Jordan and Canada will commence next week talks over a proposed Free Trade Agreement (FTA), the Jordan News Agency, Petra, reported.
Canada’s Trade Minister David Emerson is expected in Amman next week to follow up on the King’s visit to Canada in July, when the two sides agreed to examine the feasibility of an FTA, the agency quoted Ministry of Industry and Trade Secretary General Muntaser Oqla as saying.
During his visit to the North American country, King Abdullah spoke with several Canadian officials and business leaders on ways to strengthen trade and investment between the two countries.
The Canadian minister’s visit, which comes upon an invitation by Minister of Industry and Trade Salem Khazaaleh, provides a chance to examine possibilities to boost bilateral relations in all spheres, particularly in trade and economic areas, Oqla said.
In addition to the FTA, the two countries are expected to discuss basic grounds for increasing economic cooperation, trade exchange and joint investments, in addition to encouraging exchange of visits between the two countries’ businessmen.
Jordan and Canada will also sign an agreement on the promotion and protection of joint investments, Oqla said.
Ahead of Emerson’s visit to the Kingdom, Jordanian and Canadian officials are scheduled to begin talks on Wednesday to set the agenda of the FTA negotiations, the official added.
A technical team from both sides will examine the agreement’s details, covering all aspects regarding the increase of the volume of commercial exchange, the ministry’s secretary general pointed out. It will also represent a strong impetus to increase the exports of the two countries and create diverse investment projects, he added.
Jordan-Canada trade exchange volume is still below the desired level, as the Kingdom’s exports to Canada stood during the first half of this year at approximately JD4 million while the country’s imports from the industrial country totalled JD20 million in the same period.
Last year, Jordan imported from Canada goods worth JD41.2 million while its exports were JD5.5 million, according to the Department of Statistics.
The Kingdom is party to several trade agreements, including one with the US signed in 2001, the Greater Arab Free Trade Area agreement and the Aghadir agreement.
Amman is in negotiations with Turkey to sign a similar deal, while King Abdullah told Pakistani officials earlier this month that the Kingdom is interested in an FTA with Islamabad.
Jordan, a member of the World Trade Organisation since 2000, also looks at an association agreement with the EU as a milestone in its economic history.
