Ammon News - As part of a relentless Jordanian effort to expand trade exchange with Palestine, and in coordination with the Palestinian side, Jordanian and Israeli officials on Wednesday signed a ministerial minutes of meeting to facilitate the access of a list of Jordanian export-oriented products to the Palestinian market.

Yousef Al-Shamali, Minister of Industry, Trade and Supply, indicated that the agreement, signed on Dead Sea shores, is the fruit of a tireless effort by technical teams from both sides regarding a Jordanian proposal raised in 2018 to increase Jordanian exports to the Palestinian market.

The minister noted that this agreement is part of a non-stop Jordanian-Palestinian governmental coordination to enhance bilateral cooperation in the field of trade and investments.

Since that time, the technical teams have actively studied all possible scenarios and alternatives to come up with a consensual solution that takes into account the interests of all stakeholders. On the one hand, it was taken into account the importance of supporting the Palestinian economy and enhancing its trade capabilities, and on the other hand, facilitating the access of Jordanian export-oriented products to the Palestinian market by removing the barriers that limit exports flow.

Among those main barriers are restrictions imposed by the Paris Economic Protocol, which set a quota for a list of Jordanian goods that can be exported to the Palestinian market in accordance with Palestinian customs procedures and standards.

Recently, Al-Shamali added, these discussions have culminated in an agreement on a list of new Jordanian goods that will enjoy preferential treatment to access the Palestinian market, with an annual value of around $730 million, stressing that the deal serves the interests of the Jordanian and Palestinian private sectors.

According to the agreement, 425 Jordanian goods, with an annual value of about $500 million, will enjoy a custom duty-free access to the Palestinian market, provided that they conform to Palestinian technical specifications and requirements in force. Similarly, 329 Jordanian goods, with an annual value of about $230 million, will also be exempt from customs duties when exported to the Palestinian market, provided that they meet Israeli specifications and technical requirements.

The Minister emphasized that these new arrangements will not affect the provisions and arrangements applicable to the imports of the Palestinian side as stipulated in the Paris Economic Protocol signed between the Palestinian and Israeli sides on 9/28/1995.

Al-Shamali also stressed that these arrangements are a new push towards long-term commercial partnerships between the private sectors in Jordan and Palestine, which will benefit the two economies, urging the Jordanian private sector to reach out more to its Palestinian counterpart to achieve the hoped-for benefit from the agreement.

In this context, it should be noted that Al-Shamali made a successful official working visit to the State of Palestine during the period 1-2/11/2021.