Jordan suspends free trade agreement with Turkey

Source: Xinhua| 2018-03-13 03:10:25|Editor: yan
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AMMAN, March 12 (Xinhua) -- Jordan suspends a free trade agreement with Turkey as the deal negatively affected local industries, the state-run Petra news agency reported on Monday.

Jordan decided to suspend the deal upon a recommendation by Minister of Industry and Trade Yarub Qudah with a view to support local industries and the agricultural sector and boost their competitiveness.

The cabinet's decision seeks to curb any further negative impacts on the industrial sector in Jordan in light of the imbalanced competition with Turkish products that are supported by the Turkish government.

The decision is part of the government's efforts to review all free trade agreements and study their benefit to the economy.

The cabinet added that the deal, which went into effect in 2011, did not achieve the expected results as the trade balance sharply increased in favor of Turkey and Turkish investment did not significantly increase in Jordan as stipulated by the deal.

Representatives of the industrial sector in Jordan have repeatedly complained about the deal and called for revising it, while several others called for revoking the deal.