JSF recommends enhancing Jordan-Syria economic cooperation | Business | Ammon News

JSF recommends enhancing Jordan-Syria economic cooperation

[10/31/2018 3:44:25 PM]

AMMONNEWS - The Jordan Strategy Forum (JFI) urged further steps to push cooperation momentum between Jordan and Syria at all levels to revive bilateral relations and stressed the need to launch a new protocol to regulate trade ties between the two countries.

In a policy paper titled "Trade and Investment with Syria," released on Wednesday, the forum called on working towards identifying the aspects of joint investment at various commercial and official levels, in addition to activating the principle of horizontal and vertical integration in the implementation of some joint investments.

Economic growth during the past three years ranged around only 2 percent, while the trade balance deficit in 2017 amounted to 32.3 per cent of GDP, or the value of 9.19 billion dinars, the paper found.

At the Jordanian level, the forum stressed the importance of identifying goods that were exported to Syria prior to 2013 to determine feasibility of exporting them to the Syrian market once trade activity is resumed.

The forum recommended the government to revive free and development zones in the northern areas adjacent to the border crossings to Syria, and facilitate the industrial investor plans there to increase exports to Syria.

The forum recommended investing in infrastructure at the crossings between the two countries and allowing the private sector to enter into this type of investment.

The forum said Jordan's health and education sectors could benefit from investing in these fields in Syria, which need rehabilitation.

The forum also cited other opportunities for the contracting sector in the reconstruction phase as Syria's infrastructure was severely affected during the crisis.

In the same context, the forum stressed the role of the Jordanian banking sector in the post-crisis period.

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