Jordan, Iraq Establish Economic Cooperation Zone

Jordanian Industry, Trade, and Supply Ministry Yousef Shamali and Iraqi Industry and Minerals Minister Manhal Aziz al-Khabbaz announced on Wednesday the inauguration of a zone of economic cooperation between the two countries. The announcement follows a meeting in Amman of the General Assembly of the Iraq-Jordan Industrial Company, chaired by the respective ministers. The ministers stated that the economic zone will be established in collaboration with a yet-to-be-determined advisory body, which will assist in drawing investors to the project. According to Shamali, the zone will aim to cultivate closer Jordanian-Iraqi relations and bring together their respective economies, particularly with respect to industry. Commercial and industrial operations inside the zone will profit from the free trade agreements signed between Jordan and neighboring states, Shamali said. Both ministers were keen to highlight the creation of new jobs that are expected to result from the increased economic activity and corresponding growth in infrastructure. The ministers also say the border zone will aid in the development of sustainable economic growth.