Iraq is moving to the port of Aqaba to discuss the increase of trade exchange

A Jordanian-Iraqi meeting will be held in Aqaba next week to discuss various economic, trade and investment issues in order to increase the volume of bilateral trade, especially after the re-opening of the closed Trebil crossing since July 2015, in addition to stimulating the private sector in the two countries to establish joint investment projects, Aqaba Special Economic Zone Authority.
He pointed out that the reopening of shipping lines and sea and land transport will be discussed, especially as the Jordanian ports will receive goods and Iraqi goods and then transfer them to the Iraqi side through Aqaba, stressing that Iraq is a strategic partner in all fields. To increase the volume of trade exchange, and stimulate the private sector in both countries to establish joint investment projects and take advantage of the opportunities available.
He pointed out that the volume of handling between the two countries in the eighties exceeded 25 million tons of goods and services, and that the reopening of the crossing of Trebil will increase this number to fold with high readiness by the Jordanian ports and transport sector, and thus will revive the various economic sectors, stressing that the reopening of the crossing Will be a major boost to the national economy.
He pointed out that the reopening of the crossing will enhance the strategic relations between the two countries, which will positively affect the economy of both countries, especially that the meeting will discuss a number of economic, investment and trade axes, especially with regard to transport in all its forms.
Al-Shuraideh said that the ports of Aqaba are capable of handling fast, considering that their berths are prepared and dedicated to the size of international vessels in terms of queuing, submersible and modern tools used in unloading and loading operations, pointing to the demand of Jordanian ports from the local Jordanian market and the neighboring Arab markets. Of security and safety, and the existence of a package of incentives and privileges attractive to both exporters and importers inside and outside the Kingdom.
Al-Shuraideh said that the Aqaba Special Economic Zone Authority, through its development arm, has been building its largest system of Jordanian ports with international standards and capabilities to serve the special economic zone requirements. Handling, shipping and transit operations.
Since July 2015, trade between Jordan and Iraq has been completely halted by the control of the Da’ash terrorist movement on the roads, which has hampered the flow of exchanges between the two countries.
The trade exchange between the two countries reached 915 million dinars during the year 2014 decreased to 533 and 353 million dinars in the years 2015 and 2016, respectively. Trabil is the only crossing that links the flow of commercial goods between Jordan and Iraq, while other outlets exist but are not intended for commercial operations.
The truck sector is one of the most important sectors affected by the closure of the border with Iraq. It has lost 200 million dinars over the last six years due to a series of closures. The losses were not limited to the truck sector only, but closed nearly 150 offices of clearance companies operating inside the center. Al Karama border.
The goods arrived in the Iraqi market after the closure of the Trebil crossing, through Saudi Arabia by land, then Kuwait and then Iraq, but there are problems in this way is the obligation of the Kuwaiti authorities trucks destined for Iraq through the transit transport coming from Jordan unloading loads on The Kuwaiti border, and re-transport by other cars to the Iraqi border, and then re-transported by a third Iraqi car to carry goods to the Iraqi interior, meaning that the goods are unloaded and loaded twice, which leads to damage, in addition to the high cost and sometimes the goods to delay on the Saudi border As well as the goods are transported to Iraq, the Jordanian port of Aqaba from the sea to the Iraqi port of Umm Qasr, through the port of Jebel Ali, the challenge in this way is being needs about 25 additional days, which loses the Jordanian competitiveness of the high cost of goods.


https://en.economiciraq.com/2017/10/1...rade-exchange/