Jordan to Import Iraqi Oil at Incentive Pricing | Business | Ammon News

Jordan to Import Iraqi Oil at Incentive Pricing

[12/22/2018 6:07:58 AM]

AMMONNEWS - Jordan and Iraq on Wednesday stressed their keenness to enhance economic relations and discussed the possibility of Iraq importing 30,000 barrels per day of oil to Jordan at incentive prices.

Iraq started in 2012 providing 10,000 bpd to Jordan at preferential prices of USD18 less than global prices.

The discussions were held between Deputy Prime Minister and Minister of State Rajai Muasher, and Iraqi Deputy Prime Minister for Economic Affairs and Minister of Finance and Planning Fuad Hussein.

Jordan and Iraq stressed their keenness to enhance economic relations. They stressed that the ties between the two nations should be complementary and not competitive to serve both countries' best interests.

Muasher stated that he looked forward to developing ties and enhancing them, affirming the country’s readiness to coordinate with Iraq the sisterly country. In his turn, Hussein expressed pride in Iraqi-Jordanian ties that he described as historic. He added that Iraq entered a new phase after quashing the terrorist groups and forming a new government.

In the transport field, the two sides agreed to increase focus on the Karameh-Tureibil Border Crossing and improve air and maritime transport by providing facilities for importers in the Iraqi private sector.

They also discussed the possibility of exempting Jordanian exports to Iraq from customs fees, establishing joint industrial zones, launching integrated industries, and starting joint investment projects between both countries’ private sectors to encourage Iraqi investments in the Kingdom.

Discussions covered cooperation in energy and electricity sectors, as Jordan can export more than 1,000 gigawatts of electricity to the western areas of Iraq.

*Asharq Al-awsat

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