Egypt : Trade exchange bet. Egypt, Jordan hits $500M, trade mission forum takes place in Amman

  • 01 June 2022 / News / 381 / Fares RAHAHLIA

Egypt : Trade exchange bet. Egypt, Jordan hits $500M, trade mission forum takes place in Amman
CAIRO - 31 May 2022: Trade between Egypt and Jordan is currently $500 million, according to Chairman of Amman Chamber of Commerce Khalil El-Haj Tawfik.
Jordan is among the list of the most important importers of Egyptian food industries worldwide during the first quarter of 2022 with exports worth $47 million to grow by 6 percent against the exports of 2021 during the same period. 
Jordan ranked fifth among the most important import markets for Egyptian processed foods in 2021, with an amount of $188 million to reach 8.1percent of the sector’s total exports. 
Tawfik expressed the chamber’s target to double the value within a year's period to reach $1 billion, as long as obstacles are removed and measures are facilitated on both Egypt and Jordan's side. 
This came during the opening of a trade mission forum held in Amman, Jordan, and organized by the Food Export Council in cooperation with the Commercial Service office in Amman, The General Association for Foodstuffs Merchants of Jordan (GAFJO) and Amman Chamber of Commerce, among approximately 300 importers in (Jordan- Palestine- Syria- Iraq) who are specialized in food industries.
The forum witnessed the participation of 47 Egyptian food companies of manufacturers and exporters to the Hashemite Kingdom of Jordan during 29-31 May 2022. The objective is to increase the volume of trade and Egyptian exports.  
In his opening speech,Tawfik added that dispatching such a large trade mission will have a significantly positive effect on the volume of trade, which will be a step towards cooperation in different areas.
He added that the presence of buyers and businessmen from Iraq, Palestine and Jordan in the event indicates that Jordan has become a hub for hosting Arabs and a portal to Egyptian commodities in these countries. He further expected that trade agreements will be made between all parties and that such a forum will lead to interrelation among Arab countries that would pay off in the long run. 
“We aspire to have such partnerships between Egyptian manufactures and Jordanian businessmen, promote exchange of experience in a number of sectors such as frozen vegetables, juices and dairy; we further aspire to benefit from free trade agreements between Jordan and USA, Canada, and Singapore, with the objective of providing goods to one Billion consumers without customs,” he noted.
El-Haj emphasized that Jordan exports 4 million tons of food products, as it is the third largest country to import food products from Egypt, underlying that the dispatch of that Mission is significantly special amid the FAO and World Bank's warnings of food shortage. It is required to leverage the proximity of Egypt and Jordan, the lower shipping costs of products and to cooperate in the matter of food security, during his Highness King of Jordan's concern with food security. 
Chairman of Food Export Council Hani Berzi highlights that the trade mission to Jordan coincides with the Egyptian Prime Minister's visit to UAE within the framework of signing an initiative of Egypt-Jordan-UAE integrated industrial partnership to achieve sustainable economic development and benefit from relative and competitive advantages. Shortages are then avoided and self-sufficiency achieved. Signing the initiative serves as an executive roadmap with a clear time frame; it is also considered the core of upcoming partnerships in the future with various Arab countries.
Berzi commended the importance of the Chairman of Food Export Council Hassan Mansour's visit to the Trade Mission in Jordan in the framework of valuable and constant cooperation between the exports sector, Food Export Council and Egyptian Food Safety Authority, which highly supports Egyptian exports. 
According to a Food Council Export statement, Egyptian products enjoy various privileges in markets such as (Jordan- Palestine- Syria- Iraq), among which are proximity, transport costs, and relatively good shipment compared to other exporting countries, along with the trade agreements whether Pan Arab Free Trade Agreement or Agadir Free Trade Agreement which grant custom privileges to the Egyptian goods. 
For his part, Chef de Mission and Food Export Council Board Member Mr. Alaa El-Wakeel, stated that the choice of Jordan to be the hosting country is due to the significance of its market to all Egyptian exporters. 
He further indicated that, during its visit, the Food Export Council provides a service to the Jordanian exporter who intends exporting high-quality products to the Egyptian market by registering in a list made by the Council. That list will be communicated to the importers of such products in Egypt to increase trade between Egypt and Jordan.
He further stated that the presence of buyers and businessmen from Iraq, Syria and Palestine in that hub reflects the strategic position of Jordan, which services the region in regard to Egyptian products; the presence of 47 Egyptian companies and around 90 Egyptian businessmen indicates Egypt's interest in such markets. It was emphasized that the importance of these markets to the Egyptian companies is due to the fact that it represents 15 percent of the total Egyptian food exports estimated as $4.1 billion last year.
The food industry exports reached about $1045 million in the first quarter of 2022, growing by 5percent to $49 million compared to $996 million during the same period in 2021.
Exports to Arab countries occupy the top of the list of the most important international importers of Egyptian foods during the first quarter of 2022 with an amount of $588 million, representing 56percent of the total food exports, achieving a growth rate of 7percent and a growth value of $38 million. 

source: egypttoday.