Saudi Press

Saudi Arabia and the world
Wednesday, Feb 28, 2024

Jordan’s national exports strategy eyes $4.4bn worth of untapped opportunities

Jordan’s national exports strategy eyes $4.4bn worth of untapped opportunities

Live animals, clothing and pharmaceuticals are among the untapped sectors Jordan believes will help reduce its trade balance deficit, as part of an export strategy worth more than $4.4 billion.
The new plan will open up a wide range of possibilities in the industrial sector as well as highlight potential new markets, according to details reviewed by the Jordan News Agency, Petra. ⁠⁠⁠⁠⁠⁠⁠

It also aims to benefit from the Jordanian economy’s developing indicators and its capacity to increase export competitiveness in both local and international markets. ⁠⁠⁠⁠⁠⁠⁠

To facilitate this, the strategy will work to boost commodity and service exports and improve their sustainability, competitiveness and diversification.

Other sectors with untapped export potential include sectors of fertilizers, ornaments and jewelry. ⁠⁠⁠⁠⁠⁠⁠

If Jordan takes advantage of these opportunities, its exports could reach around $10.5 billion, according to the export potential map prepared by the International Trade Center.

⁠⁠⁠⁠⁠⁠⁠The strategy, which reflects the goals of both the public and private sectors, aims to increase the value and caliber of exports and boost their competitiveness to achieve export growth of at least 5 percent.

The Ministry of Industry, Trade and Supply confirmed that it will monitor the outputs of its practical application on the ground and work to enhance its strengths.

⁠⁠⁠⁠A group of markets were chosen in neighboring nations, North America, the EU, Africa and North Asian countries to target them with attractive Jordanian products.

Impending difficulties in taking advantage of these opportunities were also taken into consideration and specific solutions were offered.

⁠⁠⁠High production costs brought on by rising energy costs, reliance on conventional manufacturing and production techniques, and difficulties organizing value chains and infrastructure related to the vegetable and fruit sector were few of the internal challenges and obstacles that were identified.

⁠⁠Among the external challenges were high shipping costs, fierce competition faced by domestic goods, ineffective marketing initiatives, and high production costs for the agricultural sector.

In addition, the country faces impediments to the services sector including legal restrictions placed by some nations on professional services and the lack of knowledge about legal issues regulating the sector.

Related Articles

Saudi Press
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Alkhorayef, has announced a partnership with the London Metal Exchange to set up metal storage and delivery centers in the country. Alkhorayef highlighted Saudi Arabia's expanding military industries sector, crediting the Public Investment Fund (PIF) as a key partner, during his speech at the second PIF Private Sector Forum in Riyadh