Joint Jordanian-Israeli Delegation to Discuss Trade Relations in Washington

Business Wire,  July 15, 2008  

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WASHINGTON -- An official joint Jordanian-Israeli delegation will meet this week with representatives from the office of the United States Trade Representative, Department of State, Department of Commerce, as well as Members of Congress and their staffs to promote the expansion and strengthening of the trilateral United States-Jordan-Israel trade relationship.

In order to strengthen this vital economic relationship, the delegation will promote the expansion of the Qualified Industrial Zone initiative (QIZ) beyond the current 11 sites by creating satellite units composed of individual factories to be designated as QIZs and run by current QIZ investors, this change will expand Israeli-Jordanian economic cooperation, help boost Jordan-US trade and help create jobs and spur U.S. investment throughout Jordan and Israel.

The proposed satellite units would be located in densely populated areas with high poverty and unemployment rates, particularly among women. It is anticipated that the satellite unit initiative will create 4,500 new job opportunities and training for Jordanians closer to their homes, and may result in an additional $45 million in foreign direct investment.

The joint delegation will seek to promote the creation of a trilateral cumulation of rules of origin between the US, Jordan and Israel under the framework of U.S. free trade agreements with Jordan and Israel. This change will expand Israeli-Jordanian economic cooperation, help boost Jordan-US trade and help create jobs and spur U.S. investment throughout Jordan and Israel.

"Being the first Arab country in the region to have signed a Free Trade Agreement with the United States, Jordan has been working tirelessly to strengthen our trade relations with the U.S. and expand other economic opportunities with countries in the region, including Israel through the QIZs," said His Royal Highness Zeid Ra'ad, Jordan's Ambassador to the U.S. "We look forward to working together through this trilateral arrangement in the next few days to strengthen our economic partnerships," he added.

"Israel attaches great importance in the QIZs and the current attempts to achieve cumulation as part and parcel of the bilateral relations between Israel and Jordan. Israel believes that trade is an important pillar of building peace, and we will continue to support and promote all opportunities to develop economic opportunities that benefit both countries and their people," Israel's Ambassador to the U.S. Sallai Meridor said.

QIZs are industrial parks in Jordan from which jointly manufactured Jordanian-Israeli goods can be exported to the US duty free.

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