The Ministry of Industry, Trade, and Supply on Sunday unveiled a strategy to boost Jordanian businesses’ export capacities and capitalize on the various trade and economic agreements Jordan has signed.
During the launching ceremony, Minister Yousef Shamali said the national export strategy is an essential step toward implementing the Economic Modernization Vision, a cross-government action plan that seeks to bolster the economy by providing one million job opportunities over 10 years and attracting multiple investments.
He stated that the 2023-2025 strategy aims to increase and diversify national exports, hunt for new markets, highlight the quality and competitiveness of Jordanian products, and maintain the sustainability of exporting companies.
The strategy’s executive plans will be finalized by the end of March, said Shamali, revealing that a new trade information platform will be launched this week to help embark on the strategy, along with an electronic trade strategy that promotes untraditional marketing tools.
The minister explained that national exports grew by 34 percent during the past year, indicating that the national economy is recovering from the ramifications of the Covid pandemic and global circumstances.
He attributed the increase in trade balance deficit to the import of raw materials and semi-finished goods. More than 16 percent of imports are crude oil, the value of which jumped by 55 percent in 2022 compared to 2021, he added.
During the ceremony, a discussion on the strategy and several economy-related topics took place.
Source: Jordan News Agency