Doing Business in Jordan

The objectives of the subject “International Trade and Business in the Hashemite Kingdom of Jordan” are the following:

1. To analyze the Jordanian Economy and Global Trade;
2. To know the business opportunities in the Hashemite Kingdom of Jordan;
3. To explore the Jordanian trade relations with the country of the student;
4. To know the Jordanian Trade Agreements;
5. To examine the profile of Jordanian businesspeople and companies;
6. To develop a business plan for the Jordanian Market.

The Subject “Foreign Trade and Business in Jordan” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate: Islamic Business, World Trade.

Masters: International Business, Foreign Trade.

1. Credits of the subject “Foreign Trade and Business in Jordan”: 1 ;
2. Duration: one week.

Languages: or Jordania Jordanie.

Jordanian Preferential Access and Free Trade Agreements:

1. Jordan and the Arab Economic Area;
2. Greater Arab Free-Trade Area (GAFTA);
3. Jordan-Singapore Free Trade Agreement;
4. Canada-Jordan Free Trade Agreement;
5. U.S.-Jordan Free Trade Agreement;
6. Islamic Trade Preferential System;
7. European Union-Jordan Association Agreement;
8. Euro-Mediterranean Free Trade Agreement;
9. Free Trade Agreements with Malaysia, Egypt, the European Free Trade Association (EFTA), Tunisia, Algeria, Libya, Lebanon, Turkey, and Syria;
10. Agadir Agreement
    1. Egypt-Jordan-Morocco-Tunisia Free Trade Agreement (FTA) / Agadir Agreement.

1. WTO
   1. Agreement on Trade in Services (GATS);
   2. Agreement on the Application of Sanitary Measures;
   3. Agreement on Technical Barriers to Trade;
   4. Agreement on Preshipment Inspection;
   5. Agreement on Safeguards;
   6. Trade Facilitation Agreement.
2. WCO
   1. Revised Kyoto Convention.
3. International Convention on the Harmonization of Frontier Controls of Goods (UNECE);
4. COTIF Convention (Rail);
5. International Bureau of Containers and Intermodal Transport (BIC);
6. Chicago Convention (ICAO);
7. International Maritime Organization (IMO)
   1. Convention for Safe Containers;
   2. Istanbul Convention.
8. Hamburg Rules (Sea);
9. CIM & CIT Rules (Rail);
10. International Road Transport Union (IRU)
    1. TIR Convention;
    2. Guidelines on Safe Load Securing for Road Transport.
11. Customs Convention on Containers - not a member.

Islamic Organizations.

1. Arab League (LAS);
2. Summit of South American-Arab Countries;
3. Asia-Middle East Dialogue;
4. Islamic Development Bank;
5. ESCWA;
6. Organization of Islamic Cooperation (OIC)
   1. Committee for Economic Cooperation (OIC-COMCEC);
   2. Islamic Chamber of Commerce and Industry (ICCI);
   3. Islamic Centre for Development of Trade;
   4. Statistical, Economic and Social Centre for Islamic Countries.
7. Afro-Arab Cooperation;
8. Arab Development Funds;
9. Arab Trade Financing Programme;
10. Arab Bank for Economic Development in Africa (BADEA).

Global Organizations:

1. UN
   1. UNCTAD;
   2. ITC;
   3. WIPO.
2. WB;
3. WTO;
4. IMF.

The Hashemite Kingdom of Jordan

1. The Hashemite Kingdom of Jordan shares borders with Syria, Iraq, Saudi Arabia, Israel, and Palestine;
2. Arabic name: المملكة الأردنية الهاشمية;
3. Jordan people are Arabs (98%);
4. The official language of Jordan is Arab.
   1. English is widely spoken.
5. Capital of Jordan: Amman (4 million people);
6. Jordanian population: 5.9 million people;
7. 87% of the Jordanian population is literate;
8. Jordanian Area: 92,300 km²;
9. Jordan is a Constitutional Monarchy;
10. Head of State of Jordan: King Abdullah;
11. Jordanian Independence: 1946.

Religion in Jordan.

1. Islam (Sunni Muslim) is the main religion of Jordan: 92% of the Jordanian population;
2. 6% of the population are Christians (Orthodox);
3. Legal System of Jordan: Based on the Islamic Law and French codes.

Jordan belongs to the Arab Economic Area (Islamic Civilization).

Economy of Jordan.

1. Jordanian economy is experiencing a very high growth rates;
2. Jordan is the second Arab economy that has grown over the past fifty years;
3. Jordanian GDP growth: 3%
   1. Services sector: 68% of the total GDP;
   2. Manufacturing: 25% of the Jordanian GDP;
   3. Tourism sector: 14% of the GDP.
4. Inflation rate: 5.6%;
5. Free Market-Oriented Economy;
6. Deep privatization of the largest state-owned enterprises;
7. The largest Jordanian port is the Port of Aqaba;
8. The Hashemite Kingdom of Jordan has significant natural resources, but its business sector is not well established, their economy is very open;
9. According to the Heritage Foundation, the Index of Economic Freedom of Jordan was 52;
10. There are substantial trade and investment opportunities in construction, public sector, and commercial sector;
11. According to the Central Bank of Jordan the services sector, including construction, accounts for 71.9% of the GDP;
12. Jordanian tourism has become increasingly important in the recent years (between 8 and 10% of the Jordanian gross domestic product);
13. In the recent years the most dynamic sector of the Jordanian economy has been the construction sector;
14. Jordanian industry comprises a broad range of products: meat products, fruits, vegetables, dairy, animal food, confectionery, soft drinks, snuff, olive oil, alcohol, and others;
15. Jordan exports only 15% of his production;
16. Currency: Jordanian dinar (JOD);
17. Deregulated telecommunication Market.

Jordanian Foreign Trade.

1. The main suppliers of the Hashemite Kingdom of Jordan were Saudi Arabia (21%), China (10%), Germany (6%), the U.S. (4%), Egypt (4%), South Korea (3%) Italy (3%), India (3%), Japan (2.9%), and Turkey (2%);
2. The European Union accounts for 24% of the Jordanian imports;
3. The largest export markets of the Hashemite Kingdom of Jordan were India (20%), the U.S. (16%), Iraq (13%), Saudi Arabia (7%), the United Arab Emirates (3%), and Syria (3%);
4. Jordanian main exports are apparel and clothing, fertilizers, vegetables, and pharmaceutical products;
5. Jordanian main imports are Mineral fuels, nuclear reactors, electrical machinery, and vehicles;
6. Qualifying Industrial Zones: free access to the U.S. market;
7. Free Zones (Aqaba and Zarqa).

Jordan has more Free Trade Agreements than any other Arab country: United States, Canada, Singapore, Malaysia, Egypt, the European Free Trade Association (EFTA), Tunisia, Algeria, Libya, Lebanon, Turkey, and Syria.

More Trade Agreements are provided with Iraq, Palestine, the Gulf Cooperation Council (GCC) countries, Lebanon, and Pakistan.

(c) EENI Global Business School (1995-2023)
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