Jordan Daily – As part of the Kingdom’s efforts to expand trade exchange with Palestine, and in coordination with the Palestinian side, Jordanian and Israeli officials on Wednesday signed a ministerial minutes of meeting to facilitate the access of a list of Jordanian products to the Palestinian market.
Minister of Industry, Trade and Supply Yousef Al Shamali noted that the agreement, signed in the Dead Sea area, is the result of the relentless efforts of technical teams from both sides regarding a Jordanian proposal raised, in 2018, to increase Jordanian exports to the Palestinian market, the Jordan News Agency, Petra, reported.
The minister noted that this agreement is part of the non-stop Jordanian-Palestinian government coordination to enhance bilateral cooperation in the trade and investment fields.
He said that since 2018, the technical teams have actively studied all possible scenarios and alternatives to come up with a consensual solution that considers the interests of all stakeholders.
On the one hand, it was taken into account the importance of supporting the Palestinian economy and enhancing its trade capabilities, and on the other hand, facilitating the access of Jordanian exports to the Palestinian market by removing the barriers that limit exports flow, Shamali said.
The minister said that the main barriers are restrictions imposed by the Paris Economic Protocol, which set a quota for a list of Jordanian goods that can be exported to the Palestinian market, in accordance with Palestinian customs procedures and standards.
He added that these discussions have resulted in an agreement on a list of new Jordanian goods that will enjoy preferential treatment to access the Palestinian market. The deal has an annual value of around $730 million, he said, stressing that it serves the interests of the Jordanian and Palestinian private sectors.
According to the agreement, 425 Jordanian goods, with an annual value of about $500 million, will enjoy a customs duty-free access to the Palestinian market, provided that they conform to Palestinian technical specifications and requirements.
Shamali added that 329 Jordanian goods, with an annual value of about $230 million, will also be exempted from customs duties when exported to the Palestinian market, provided that they meet Israeli specifications and technical requirements.
The minister emphasised that these new arrangements will not affect the provisions and arrangements applicable to the Palestinian side’s imports, as stipulated in the Paris Economic Protocol signed between the Palestinian and the Israeli sides on September 28, 1995.
Shamali also stressed that these arrangements are a new set of procedures that serve long-term commercial partnerships between the private sectors in Jordan and Palestine, which will benefit the two economies. Shemali urged the Jordanian private sector to reach out more to its Palestinian counterpart to achieve the aspired benefit from the agreement.
The minister paid a “successful” official working visit to Palestine on Monday and Tuesday.