Monday June 29, 2009
AMMAN: Canada signed with Jordan on Sunday a free trade accord (FTA) that lifts tariffs on the vast majority of its exports as part of a push for greater access to Middle Eastern markets, diplomats and officials said.
"Doors will open up for products that have not been competitive because of tariffs," Canadian Trade Minister Stockwell Day told reporters in Amman after the signing ceremony of the first such accord with an Arab country. Canada already has an FTA treaty with Israel.
Canadian exports, mainly agri-food products, to the region nearly doubled in recent years and topped $64 million in 2008. Imports from Jordan stood at $12.8 million, mainly apparel and agricultural goods.
Jordan was the first Arab country to sign an FTA with Washington and is also a member of the WTO and has an association accord with the EU that paves the way for full lifting of tarrifs and customs. Western firms see the kingdom as a regional hub for wider business access to Iraq and neighbouring countries.
(Reuters)
"Doors will open up for products that have not been competitive because of tariffs," Canadian Trade Minister Stockwell Day told reporters in Amman after the signing ceremony of the first such accord with an Arab country. Canada already has an FTA treaty with Israel.
Canadian exports, mainly agri-food products, to the region nearly doubled in recent years and topped $64 million in 2008. Imports from Jordan stood at $12.8 million, mainly apparel and agricultural goods.
Jordan was the first Arab country to sign an FTA with Washington and is also a member of the WTO and has an association accord with the EU that paves the way for full lifting of tarrifs and customs. Western firms see the kingdom as a regional hub for wider business access to Iraq and neighbouring countries.
(Reuters)
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