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Ammon News - AMMONNEWS - Jordan’s industrial sector is believed to have incurred losses estimated at JOD200 million as the kingdom’s borders with Iraq remains sealed off for more than a month as the Iraqi army continues to battle militants in the restive Anbar province.

A top trading partner of Jordan, Iraq’s border closure has resulted in hundreds of factories shutting down almost 70 per cent of their production lines, according to a statement of the Amman Chamber of Industry.

In a report carried by the Jordan News Agency (Petra), the chamber adds that large amounts of raw materials continue to pile up at hundreds of factories because exports have come to a complete halt.

Furthermore, the chamber notes, the closure of the borders has triggered a financial crisis for importers and banks that provide finance to importers, who are now unable to make repayments.

Additionally, the piling up of raw materials and goods has created a storage crisis for factories, which are forced to dispose of large quantities of industrial material.

Some factories have laid off hundreds of Jordanian workers because they were no longer able to pay wages and salaries, the chamber adds.

The chamber pleaded with the Jordanian government to work towards the reopening of borders with Iraq as early as possible.

*AME