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JORDAN SUSPENDS FREE TRADE AGREEMENT WITH TURKEY

Jordan decided to suspend the Free Trade Agreement (FTA) with Turkey citing its adverse impact on the local industrial sector. According to the Jordan News Agency, Petra’s news the decision, was taken to support the industrial, agricultural and productive sectors in Jordan and render them more competitive locally and overseas. It underlined that the “unequal” competition with Turkish products, which receive Turkish government’s support, has led to negative effects on local producers. The statement said that the partnership agreement that went into effect in 2011 has not yielded the expected fruits but has rather further tilted the trade balance in favour of the Turkish side.

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