30 January 2010
Amman -- Iraqi businessmen have turned to free zones in Jordan prompted by security concerns and instability in their country with JD222.2 million in investment in the free-duty areas out of a total of JD1.644 billion last year.
Local Jordanian investment at the zones exceeded JD1.375 billion of the total while the rest went to investors from other nationalities.
Free Zones Corporation FZC Director Iyad Al Qudah said automobiles accounted for the bulk of overall trade at about JD1.29 billion and JD353.7 million went for other merchandise.
He told Petra that a total of 368 Iraqi investors working in the zones under annual contracts were doing trade with their home country and had run their own networks in the Iraqi market.
Qudah said the Zarqa Free Zone had the lion's share of a total of 2,408 investment contracts, while the rest went to zones in Karamah, Sahab, the Airport and Karak.
He also said that Jordan is holding negotiations with Iraq to turn the border post at Karamah into a joint free zone like one between Jordan and Syria, noting that such a move would give bilateral trade a shot in the arm due to facilities it will offer to Iraqi businessmen including visa-free access to Jordan.
Amman -- Iraqi businessmen have turned to free zones in Jordan prompted by security concerns and instability in their country with JD222.2 million in investment in the free-duty areas out of a total of JD1.644 billion last year.
Local Jordanian investment at the zones exceeded JD1.375 billion of the total while the rest went to investors from other nationalities.
Free Zones Corporation FZC Director Iyad Al Qudah said automobiles accounted for the bulk of overall trade at about JD1.29 billion and JD353.7 million went for other merchandise.
He told Petra that a total of 368 Iraqi investors working in the zones under annual contracts were doing trade with their home country and had run their own networks in the Iraqi market.
Qudah said the Zarqa Free Zone had the lion's share of a total of 2,408 investment contracts, while the rest went to zones in Karamah, Sahab, the Airport and Karak.
He also said that Jordan is holding negotiations with Iraq to turn the border post at Karamah into a joint free zone like one between Jordan and Syria, noting that such a move would give bilateral trade a shot in the arm due to facilities it will offer to Iraqi businessmen including visa-free access to Jordan.
© Jordan News Agency - Petra 2010
