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Jordan, Canada FTA a key commercial, business opportunity, Ammari.

Amman, Oct 9 (Petra) -- Minister of Industry and Trade Shabib Ammari said a Jordanian-Canadian Free Trade Agreement FTA which went into effect this month is a key opportunity for the private sector in both countries as it opens investment scopes to help the aspired growth.

He spoke during the annual ceremony organised in Amman last night by the Jordanian-Canadian Business Association to mark the entry of the FTA into force, which was attended by a number of royal family members, visiting Canadian Minister of International Trade Ed Fast and a number of Jordanian and Canadian businessmen.

"The FTA is an opportunity for the entry of Jordanian products and services to the Canadian market and also access of Canadian goods not only to Jordan but to Arab countries, members of the Greater Arab Free Trade Zone," added Ammari.

He noted that in addition to a gradual free exchange of goods and services, the FTA also provides protection of investments in both countries.

Ammari said the private sector is the key engine of growth and Jordan had a road map to stimulate it and provide it with the necessary tools, foremost of which are agreements with economic blocs, to work in a robust environment.

The Canadian minister said the FTA, the first Ottawa had signed with an Arab country, would help to enhance existing cooperation between the two countries in various fields in addition to deepening the trade partnership.

Fast said the liberalization of trade between Jordan and Canada in the areas of goods and services would take place in phases over a span of five years, hailing Jordan as a natural partner of Canada, a partnership, which he said, would help to develop Canada's ties with the Middle East.

The volume of trade between Jordan and Canada remains modest with the Kingdom's exports to the North American country not exceeding JD6 million by the end of last July while imports from Canada amounted to JD28 million.

//Petra//SS 9/10/2012 - 06:07:01 PM

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Publication:Jordan News Agency (Petra)
Geographic Code:1CANA
Date:Oct 9, 2012
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