Business Opportunities in Jordan

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9781502323255: Business Opportunities in Jordan

Jordan is strategically positioned at the crossroads of the Middle East-North Africa (MENA) region, centrally located between Europe, Asia, and Africa. The Hashemite Kingdom of Jordan is one of only two Arab countries to have signed a peace agreement with Israel, and in 2001, it became the first Arab country to sign a Free Trade Agreement with the United States. The U.S.-Jordan Free Trade Agreement (FTA), which came into full effect in 2010, continues to create advantages for U.S. exporters, who are able to sell high-quality products at more attractive prices, as tariff barriers on the majority of goods traded between the United States and Jordan have been eliminated. Because of the FTA, bilateral trade has surged ten-fold over the past 13 years. With a moderate climate and historical sites such as the Dead Sea, Petra, and Wadi Rum, Jordan remains a prominent tourist destination in the Middle East, despite a recent decline in tourism arrivals due to regional unrest associated with the Arab Spring. The development of Jordan’s sole port city of Aqaba holds significant promise for tourism-related infrastructure projects, including hotel construction and management, as well as convention center, cruise ship terminal, and commercial opportunities. The port expansion also affords opportunities in infrastructure development. Regionally, Jordan remains a haven of stability for business interests and serves as a business hub in the region. Jordan has strong, cooperative relations with its neighbors and the wider international business community. Imports into Jordan include: mineral fuels and crude oil, industrial machinery, transportation equipment, food and agricultural products, textiles, manufactured goods such as rubber products, paper and cardboard, yarns, chemicals, clothing and footwear. The largest exporters to Jordan include: the European Union (20 percent of total imports), Saudi Arabia (20 percent), China (11 percent), United States (6 percent), followed by Egypt, South Korea, Japan, and Turkey.

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