Jordan, Iraq start studies to Create New Free-Zone

By John Lee.

Jordan and Iraq have reportedly started studies to create a joint free industrial zone on their shared border.

A Jordanian government official told Xinhua that an Iraqi delegation visited Jordan this week to check the capacity of factories that will benefit from a decision by Iraq to exempt commodities -- including plastics, pharmaceuticals, detergents, chemical materials and food products -- from custom duties.

It is expected that the new free-zone will create allow Iraqi businesses to benefit from exemptions and advantages under free trade agreements that Jordan has signed with several countries.

It will also help to increase Jordanian exports to Iraq, which rose by 26.7 percent in 2018 to 465.9 million Jordanian dinars (3.9 million U.S. dollars).

(Source: Xinhua)

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