ACC proposes measures to enhance Jordan-Egypt trade exchange

Amman: Amman Chamber of Commerce (ACC) called for streamlining customs procedures between Jordan and Egypt and reducing administrative costs to enhance trade exchange and facilitate flow of goods. In its report on Jordan-Egypt trade relations obtained by "Petra," the ACC noted importance of promoting mutual trade exhibitions and events to enhance contact and provide "new" investment and trade opportunities. The chamber also urged steps to stimulate exchange of commercial data to facilitate "strategic" cooperation and decision-making and spur the two countries' investors in various economic sectors. Egypt ranked 11th among the top importers of Jordan's exports last year, as its share of total national exports amounted to approximately 14% worth JD119.7 million, recording a decline of 25% at JD40.4 million from the year 2022, reaching JD160.1 million, the report revealed. In 2023, the ACC said trade balance was in favor of Egypt, with a value of JD375.1 million, marking a drop in value of JD20.8 million, co mpared to 2022, which stood at JD395.9 million. Meanwhile, the Kingdom's imports from Egypt in 2023 hit JD494.8 million, compared to JD556 million in 2022, constituting a decrease of JD61.2 million, the ACC data showed. In its report, the chamber highlighted a number of challenges impeding increasing exports to Egypt, primarily technical, procedural and administrative obstacles to access Egyptian market and other destinations en route Egypt. Additionally, the hardships emerged in procedural obstacles to register some products, mainly drugs, fertilizers and pesticides, as well as transportation hurdles and "high" shipping costs,especially for agricultural crops and "weak" marketing of crops with "competitive" value, the ACC pointed out. Source: Jordan News Agency