Amman, Oct. 3 (Petra) – Indicators recorded during the first seven months of this year confirm a "sustained positive shift" in trade between Jordan and the European Union, particularly regarding the ability of Jordanian exports to access European markets, Chairman of the European Chamber of Commerce in Jordan (EuroCham Jordan), Mohammad Smadi, said.
In a statement to "Petra" on Saturday, Smadi noted that the 20.3% rise in exports, reaching JD367 million, compared to JD305 million during the same period last year, coupled with a 7.2% decline in imports, reflects an improvement in the trade relationship, even though the volume of exchange remains "clearly in favor" of the European side.
Also during the January-July period of this year, he stated the key lies in analyzing growth indicators and trade volume, as Jordanian exports rose to approximately 22% of the value of imports from the EU , up from about 17% during the same period last year.
He said this growth represents a "significant" improvement while simultaneously highlighting substantial room for further growth.
He called for building "deeper" production and investment partnerships with Europe, noting that the existing partnership agreement with the EU, along with preferential arrangements and rules of origin, offer "crucial" opportunities, yet the extent to which these privileges are currently used still falls short of the available potential.
He highlighted the importance of attracting European investments to Jordan that are geared to enhance production and export, assist Jordanian companies in meeting European technical and environmental standards and requirements, and reduce costs related to production, energy, transport, and logistics.
Furthermore, he emphasized the need to intensify direct promotion of Jordanian products and link Jordanian companies with European importers, distributors, and value chains to boost exports to higher levels.
He also pointed to the importance of diversifying the range of exported goods, increasing value-added content, and opening new markets within the European Union.
He noted that the European market possesses "high" purchasing power, and broader access to it could have a "direct, positive" impact on investment, employment, and growth in Jordan.
He added that EuroCham underscores the necessity of involving the private sector as a "fundamental" pillar in these transformations.
"The chamber's role goes beyond merely promoting Jordan to building practical ties between Jordanian and European companies and translating relationships, visits, and meetings into export contracts, investments, and sustainable production partnerships," he pointed out.
Praising current figures as "encouraging," he noted that the priority now aims to transform this growth, currently seen as an annual improvement in indicators, into a "sustainable trajectory that steadily increases the market share of Jordanian products in Europe year after year." //Petra//AG
