Palestine Economy Portal.

The Minister of National Economy Mr. Khalid al-Asaily said on Monday that efforts are being made to increase trade between the State of Palestine and the Hashemite Kingdom of Jordan to one billion dollars and with all the Arab countries through Jordan being the eastern gate of our Arab depth.

This came during his presence at the fifth exhibition of Jordanian products and industries organized In Jenin by the Amman Chamber of Industry, with the participation of Jenin Governor Akram Rajoub and representatives of the Palestinian and Jordanian public and private sectors and about 50 Jordanian companies from various sectors Industries.

The volume of trade exchange between the two countries amounted to 230 million dollars in 2017, of which 153 million are commodity imports from Jordan and 77 million are commodity exports to Jordan, while 2017 data showed that 63% of foreign direct investment in Palestine is concentrated in the financial brokerage sector. Jordan imports accounted for 81.3% of the data.

In his speech, Al-Osaily said that the Jordanian-Palestinian agreement reached during the meetings of the Higher Committee which was held on July 7 in Amman, Jordan, on the signing of several memoranda that require mutual recognition of specifications and standards and cooperation with the Jordanian Food and Drug Administration.

In addition to the agreement on the establishment of a joint venture company to manage the Jordanian-Palestinian free zone, which will manage the logistics area and provide the required services to facilitate the movement of import and export, and the expected positive impact and its contribution to improving the level of trade.

Al-Osaily said that the exhibition will be held in the city of Jenin, which will be the only free industrial zone in Palestine. The tender was submitted to the Turkish company ALKE, which is expected to sign an infrastructure contract for this area next week.

For his part, Jordan's Minister of Economy, Trade and Supply Tariq Al-Hamouri said that we are supportive of Palestine in all fields and royal and governmental orders to continue all support for Palestine and look forward to increasing trade volume.

Al-Hamouri added "We have witnessed an increase in intra-trade and it is not within the ambition and there is a political will to increase it despite all the challenges. Today we come for the fifth time to achieve this and we hope to be next time in Jerusalem."

The Minister pointed to the results of the meeting of the Higher Joint Committee and the convergence of views despite the size of the obstacles, but we are destined to increase trade exchange and spoke to the importance of exploiting marketing opportunities in global markets and achieve integration in various fields.