The head of the Jordan and Amman Chambers of Industry, Eng. Fathi Al-Jaghbair, said that the cancellation of the trade agreement with Turkey had a positive effect by reducing the deficit levels in the Jordanian trade balance with Turkey by about 31 million dinars during the first quarter of this year compared to the same period last year. 

In a statement yesterday, Al-Jaghbir expressed surprise at what he described as "false information" transmitted by some media or even social networking pages that the Jordanian economy suffered losses as a result of the cancellation of the Free Trade Agreement with Turkey since November last year. 

He reiterated that the positive effects of the cancellation of the agreement are not limited to the reduction of trade deficit, but reflected in the level of government revenues due to the imposition of customs duties imposed on Turkish goods entering the Jordanian market. 

He added that the positive effects also reflected on the competitiveness of Jordanian products within the local market and thus increase their share in the coverage of domestic demand, where previously Jordanian products were subjected to unequal competition of Turkish goods, which is also supported by the government. Investments in Jordan. 

This is evidenced by the fact that some importers have increased their demand for Jordanian products according to the concept of special orders and their own brand names. This is in itself an assurance that there are local alternatives of different products that match and excel in Turkish products, but they need little support and confidence in Jordanian Consumer. 

He stressed the importance of reading the official figures on the impact of cancelling the agreement before talking about what he called «impressions of the negative effects» of the decision to cancel the agreement, noting that the foreign trade data issued by the Department of Statistics, showed the decline of exports to Turkey by about 47 percent in the first quarter of To reach KD 7.2 million compared to KD 13.5 million during the first quarter of 2018. Turkish exports to Jordan decreased by 30 percent during the first quarter to reach 87.5 million dinars, compared to 125.3 million dinars during the previous year. The some of the first 2018. 

He stressed that the amount of "relative change" as shown in favour of Turkey, and this in terms of its description can not be taken without regard to the amount of change and its impact on the Jordanian trade balance, pointing out that the volume of decline of Jordanian exports to Turkey amounted to about 6.3 million dinars during the first quarter of This year, while Turkey's exports to Jordan decreased by about KD 38 million, nearly six times the losses of Jordanian exports. 

"The official figures show the positive impact of the cancellation of the agreement on reducing the levels of deficit in the balance of trade with Jordan and about 31 million dinars during the first quarter of this year compared to the same quarter last year," he said, adding that it is information A far cry from the reality of intra-trade figures. 

He noted that Jordanian-Turkish relations are distinguished at all levels thanks to the wisdom of His Majesty King Abdullah II and his fraternal relations with Turkish President Recep Tayyip Erdoğan. However, the interests of the Jordanian economy and the protection of local products are paramount and must be considered in isolation from any perspective. Else.

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