Humayun said that the FTA would provide an opportunity for vertical integration of Pakistan's and Jordanian textile sectors, with particular reference to Jordanian textile and apparel exports to USA, under Jordan-USA FTA and Qualified Industrial Zones (QIZs).
The issue of setting up of warehouses at a suitable location in Jordan also came under discussion to cover Iraqi and Palestinian markets. The Jordanian Minister briefed the Commerce Minister on the economic and trade regimes of her country with particular reference to the reforms carried out by the Jordanian government during the last few years.
Currently, the balance of trade between Pakistan and Jordan is in favour of Jordan. During 2004-05 total trade volume between Jordan and Pakistan remained at $53.837 million in which Pakistan's exports stood at $21.013 whereas imports were of $32.806 million, thus registering a trade deficit of $11.793 million.
Humayun said both Pakistan and Jordan were striving to achieve economic prosperity and had a lot to share and learn from each other. He looked forward to having a fruitful exchange of ideas on a broad range of issues. He said he was confident that decisions of the 8th Session of Joint Ministerial Commission would establish a comprehensive and productive framework for forging multi-dimensional co-operation for mutual benefits.
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