Trading exchange bet. Egypt and Jordan Reach $500 Million, Trade Mission Forum Held in Amman

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Trade Mission Forum in Amman – Press Photo

CAIRO – May 31, 2022: Trade between Egypt and Jordan currently stands at $500 million, according to Amman Chamber of Commerce President Khalil El-Haj Tawfik.

Jordan is on the list of the largest importers of Egyptian food industries in the world during the first quarter of 2022, with exports worth $47 million up 6% from 2021 exports in during the same period.

Jordan ranked as the fifth-largest import market for Egyptian processed foods in 2021, worth $188 million to reach 8.1% of the sector’s total exports.

Tawfik expressed the chamber’s goal of doubling the value in one year to $1 billion, as long as obstacles are removed and action is facilitated from the Egyptian and Jordanian side.

This happened during the opening of a trade mission forum held in Amman, Jordan, and organized by the Food Export Council in cooperation with the Amman Trade Service Office, the General Merchants Association of Food Products of Jordan (GAFJO) and the Chamber of Commerce of Amman, among about 300 importers in (Jordan-Palestine-Syria-Iraq) specialized in the food industries.

The forum saw the participation of 47 Egyptian food companies from manufacturers and exporters to the Hashemite Kingdom of Jordan from May 29 to 31, 2022. The aim is to increase the volume of Egyptian trade and exports.

In his opening speech, Tawfik added that sending such a large trade mission will have a significant positive effect on trade volume, which will be a step towards cooperation in different fields.

He added that the presence of buyers and businessmen from Iraq, Palestine and Jordan at the event indicates that Jordan has become a hub for welcoming Arabs and a portal to products. Egyptians in these countries. He further expects that trade agreements will be reached between all parties and that such a forum will lead to an interrelation between Arab countries that will pay off in the long run.

“We aspire to have such partnerships between Egyptian manufacturers and Jordanian businessmen, to promote the exchange of experiences in a number of sectors such as frozen vegetables, juices and dairy products; we further aspire to benefit from free trade agreements between Jordan and the United States, Canada and Singapore, with the aim of supplying goods to one billion consumers without customs,” he noted.

El-Haj pointed out that Jordan exports 4 million tons of food products, as it is the third largest country to import food products from Egypt, stressing that the dispatch of this mission is particularly special amid warnings of food shortages from the FAO and the World Bank. There is a need to take advantage of the proximity of Egypt and Jordan, lower product shipping costs and cooperation on food security, during His Highness the King of Jordan’s concern for the Food Safety.

Food Export Council Chairman Hani Berzi points out that the trade mission to Jordan coincides with the Egyptian Prime Minister’s visit to the UAE as part of the signing of an Egypt-Jordan-UAE integrated industrial partnership initiative to achieve sustainable economic development and benefit from a relative and competitive relationship. advantages. Shortages are then avoided and self-sufficiency achieved. Signing the initiative serves as an executive roadmap with a clear timeline; it is also considered to be the heart of future partnerships with various Arab countries.

Berzi praised the importance of the visit of the Chairman of the Food Export Council Hassan Mansour to the trade mission in Jordan as part of a valuable and constant cooperation between the export sector, the Food Export Council and the Egyptian Authority. food security, which strongly supports Egyptian exports.

According to a statement by the Food Council Export, Egyptian products enjoy various privileges in markets such as (Jordan-Palestine-Syria-Iraq), among them proximity, transport costs and relatively good shipping compared to other exporting countries. , as well as trade agreements, whether the Pan-Arab Free Trade Agreement or the Agadir Free Trade Agreement, which grant customs privileges to Egyptian goods.

For his part, Head of Mission and Board Member of the Food Export Council, Mr. Alaa El-Wakeel, said that the choice of Jordan as the host country is due to the importance of its market for all Egyptian exporters.

He further indicated that during his visit, the Food Export Council provides a service to the Jordanian exporter who intends to export high quality products to the Egyptian market by registering on an established list. by the Council. This list will be communicated to importers of these products in Egypt in order to increase trade between Egypt and Jordan.

He further said that the presence of buyers and businessmen from Iraq, Syria and Palestine in this hub reflects the strategic position of Jordan, which serves the region with regard to Egyptian products; the presence of 47 Egyptian companies and about 90 Egyptian businessmen indicates Egypt’s interest in these markets. It was pointed out that the importance of these markets for Egyptian companies is due to the fact that they represent 15% of total Egyptian food exports estimated at $4.1 billion last year.

Food industry exports reached around $1045 million in the first quarter of 2022, growing 5% to $49 million from $996 million in the same period of 2021.

Exports to Arab countries occupy the top of the list of the most important international importers of Egyptian food during the first quarter of 2022 with an amount of 588 million dollars, representing 56% of total food exports, reaching a growth rate of 7% and a growth value of $38 million.

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