Jordan’s national exports strategy eyes $4.4bn worth of untapped opportunities

Jordan’s national exports strategy eyes $4.4bn worth of untapped opportunities

RIYADH: Live animals, clothing and pharmaceuticals are among the untapped sectors Jordan believes will help reduce its trade balance deficit, as part of an export strategy worth more than $4.4 billion.

The new plan will open up a wide range of possibilities in the industrial sector as well as highlight potential new markets, according to details reviewed by the Jordan News Agency, Petra. ⁠⁠⁠⁠⁠⁠⁠

It also aims to benefit from the Jordanian economy’s developing indicators and its capacity to increase export competitiveness in both local and international markets. ⁠⁠⁠⁠⁠⁠⁠

To facilitate this, the strategy will work to boost commodity and service exports and improve their sustainability, competitiveness and diversification.

Other sectors with untapped export potential include sectors of fertilizers, ornaments and jewelry. ⁠⁠⁠⁠⁠⁠⁠

If Jordan takes advantage of these opportunities, its exports could reach around $10.5 billion, according to the export potential map prepared by the International Trade Center.

⁠⁠⁠⁠⁠⁠⁠The strategy, which reflects the goals of both the public and private sectors, aims to increase the value and caliber of exports and boost their competitiveness to achieve export growth of at least 5 percent.

The Ministry of Industry, Trade and Supply confirmed that it will monitor the outputs of its practical application on the ground and work