Free Trade Agreement Jordan Turkey

The following agreements have been replaced by the EU-Turkey Customs Union: Jordan and Turkey have a long relationship dating back to the early 1990s. In 1994, Jordan and Turkey founded the Turkish-Jordanian Economic Council. The Council`s objective is to serve as a model for a joint undertaking between the two countries. The Council encourages the private sector in both countries to respond to their trade and investment. In 2011, Jordan and Turkey also signed a free trade agreement (FTA) that removes tariff barriers and facilitates bilateral trade and investment. This page lists the free trade agreements signed by Turkey. [1] In 1995, Turkey signed a customs union with the European Union for products other than agricultural products and services. Since 2018, the EU has been Turkey`s main trading partner, with 50% of its exports and 36% of its imports. [2] While joint economic committees hold meetings to boost bilateral trade, free trade agreements reduce trade barriers such as import quotas and tariffs. She said the framework agreement that underpins the JEC will strengthen bilateral trade and economic relations. The two countries said they were working on a new economic cooperation agreement. Bilateral trade between two countries amounted to nearly $960 million, with Turkish exports to Jordan amounting to $860.9 million in 2018.

Jordanian officials stressed the attractiveness of the investment climate in Jordan, which has signed several free trade agreements. Jordanian Minister of Industry, Trade and Supply Tariq Hammouri travelled with a delegation to Ankara, the capital, for the deal, Ruhsar Pekcan said in a tweet. While the Jordanian government has tried to redress its image in response to criticism from working and human rights groups, it has also reached agreements with other nations. It has concluded free trade agreements with the EU under the Barcelona Process, EFTA, Palestine and Syria. It signed a free trade agreement with Singapore in 2004 and with Canada in 2008 (which has yet to be ratified). In 2010, it signed a four-way agreement with Syria, Turkey and Lebanon. The free trade agreement (FTA) signed in March 2011 between the two countries was denounced last year by Jordan due to an unfavorable economic context. .

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