Studies for the establishment of the joint free Jordanian-Iraqi industrial zone at the border between the two countries have begun, a government official said Tuesday (March 12th).
"Currently, studies are underway to implement the project which will help increase investments and trade co-operation," Ministry of Industry, Trade and Supply spokesman Yanal Barmawi told The Jordan Times.
Both countries have begun taking border measures necessary for the establishment of the zone, he said.
The two countries allocated a 4,000-dunam plot for the first phase of the project, according to Barmawi, which could be expanded to 10,000 dunams.
The zone will provide an opportunity for Iraqi industries to benefit from exemptions and the advantages of Jordan’s free trade agreements with several countries, he said.
It enables Iraq to penetrate markets with a total population of more than 1 billion people, he added.
An Iraqi delegation, including public and private sector representatives, started a visit to Jordan this week to inspect the industrial facilities and companies that are eligible to benefit from the Iraqi government’s decision to exempt a number of Jordanian commodities from customs duties, Barmawi said.
"The delegation started visiting several factories, especially those wishing to export to Iraq... to check their capacities and scope of production," he said.
"This is an important step for these factories to benefit from Iraq’s decision to exempt more than 300 Jordanian commodities of customs duties and fees," he said.