ERBIL — Iraq and Jordan have made an agreement to establish a joint economic zone on the border in hopes of boosting economic partnership and integration, according to officials.
Iraqi Minister of Industry and Minerals Manhal Aziz al-Khabbaz and Jordanian Industry, Trade and Supply Minister Yousef Shamali made the announcement on Wednesday after attending an extraordinary meeting of the general assembly of the Iraqi-Jordanian Industrial Company in Amman.
The ministers confirmed that the next step would be choosing an advisory institution to help developing the zone and attracting investments.
Shamali said the zone is expected to promote Jordanian-Iraqi economic integration, especially in industry, according Xinhua.
The minister revealed that products and enterprises in the economic zone will be offered exemptions and benefit from free trade agreements Jordan has signed with other countries.
The planned border economic zone can also help realize sustainable economic development, especially in eastern Jordan and western Iraq, by improving infrastructure and creating direct and indirect jobs, the two ministers noted.