Day: May 11, 2024

The Islamic Resistance issued the following statement: “In support of our steadfast Palestinian people in Gaza and in reinforcement of their brave and honorable resistance, and approximately an hour and a half after targeting Khirbet Ma’ar base, and while the enemy soldiers were gathered at the base to assess the damage, the Islamic Resistance fighters once again targeted the site for the second time with tens of Katyusha rockets.”

Source: National News Agency – Lebanon

Representatives of Egyptian food industry firms said Saturday Jordan is a promising market and a key platform to access other Arab markets, foremost of which is Palestine.

In interviews with Petra, participants in an Egyptian food industry trade mission to Jordan, comprising 35 forms, said they hope to see closer trade relations with Jordan “for the mutual interest of the two countries.”

Ahmed Elsharkawy, Managing Director at ExpoEast For Manufacturing and Global Trade, said his firm’s products are already available in the Jordanian market, namely its mozzarella cheese products, expressing hope for further cooperation.

He said the Egyptian trade mission is important because the Jordanian market is promising and has great opportunities, especially in the food industry, in addition that the Jordanian food safety standard gives products the green light to enter various other markets.

Elsharkawy pointed out that the food trade volume between Jordan and Egypt is “very good” despite regional tensions that imp
act transport and logistics.

Solymar Food manager Mohammad Sweilem said Egyptian companies are particularly interested in the Jordanian market, which is an important gateway to the Palestinian market, adding that his company has been in the Jordanian market for about a year and a half. He said that there are no logistical challenges with Jordan, especially after passing the initial inspection stage when exporting for the first time to the Kingdom.

Tag El Melouk Food Industries Company executive Sameh Gibran said that the Jordanian market is import due to its proximity to Egypt, which facilitates trade operations between the two countries, in addition to entry to other Arab markets, such as Saudi Arabia and Iraq.

Palestinian Food Traders Syndicate head Waseem Jaabari said a Palestinian delegation is participating in the Egyptian trade mission at the invitation of the Egyptian Embassy in Amman and the Jordanian Foodstuff Traders Association, with the aim of emhancing trade relations between the private secto
r in the three countries.

Source: Jordan News Agency

Rise of Jordan’s foreign reserves to “record and historic” levels proves attractiveness and resilience of the national economy and its capability to counter crises and difficulties, economists said.

According to official data, the Central Bank of Jordan (CBJ)’s foreign reserves reached a “new record” level of $19.1 billion now, which is enough to cover the Kingdom’s imports of goods and services for 8.3 months.

In remarks to “Petra Saturday, economists noted this rise reflects “success” of the Kingdom’s economic reform policies, which are “moving in the right direction,” adding that this policy strengthens investors’ confidence in capability of the national economy to counter challenges and achieve “positive” results, in light of the region’s changing circumstances and political tensions.

Additionally, they added that maintaining “comfortable” levels of foreign reserves enhances Jordan’s credit rating, help keep the dinar exchange rate, control inflation rates, boost performance of the Kingdom’s banking sy
stem and financial institutions, raise confidence in monetary policies and reduce the expected impact of external shocks.

Commenting on the achievement, Former Minister of Finance and economic expert, Dr. Mohammad Abu Hammour, said foreign currency reserves are a “key” economic indicator that reflects the economy’s strength, its capability to counter crises and fulfill obligations and reflect “prudence” of monetary policy and potential to keep pace with local and global changes.

Meanwhile, Board of Directors of the Amman Chamber of Industry (ACI) member, Musa Saket, said size of the reserve is an “important” indicator of the performance of the national economy.

Saket stated that the reserve increases due to foreign grants, expatriates’ remittances, increased spending by overseas tourists, and revenues of national exports of goods and services.

For his part, member of Board of Directors of the Jordan Economic Forum (JEF) and investment and business advisor, Mohammad Qaryouti, said Jordan’s foreign cash res
erves reached $19.1 billion now, adding that this figure is “sufficient” to cover Jordan’s imports of goods and services for a period of 8.3 months, which is one of the “highest” coverage rates in the world.

Qaryouti added that the Kingdom’s foreign reserves in 2019 stood at $14.3 billion, which grew by 34% in 6 years.

Source: Jordan News Agency

Israeli occupation’s continuous artillery shelling killed 8 Palestinians and injured others on Zeitoun neighborhood, east of Gaza.

According to Palestinian sources in Gaza, 2 Palestinians were martyred and others were injured after the occupation’s military targeted a residential building for “Yassin” family in Sabra neighborhood in central Gaza City at Saturday dawn.

Additionally, the Israeli occupation army decided to expand its operations and warned residents to evacuate new neighborhoods in Rafah, south of Gaza, as well as Jabalia and Beit Lahia, north of the strip.

Source: Jordan News Agency

Ministry of Industry, Trade and Supply issued a total of 78 violation tickets and notices, under the Consumer Protection Law, in 2023, as 50 establishments were ticketed, while 28 others were notified.

According to the ministry’s achievements report for the year 2023, which Petra obtained, a total of 820 complaints were filed, including 345 related to after-sales services, 334 centered on a defective service or commodity, 79 revolved around to misleading advertisements, and 62 tackled warranties and contracts.

Additionally, the ministry sent 120,000 awareness and guidance messages to consumers via Short Message Service (SMS).

The average completion rate for achieving the strategic goals of the ministry’s plan for the year 2023 stood at 94.7%, marking an increase of 5.3%, compared to 2022.

Meanwhile, the ministry raised efficiency of market monitoring and consumer protection mechanisms to 99% in 2023, constituting an increase of 2% from 2022.

Source: Jordan News Agency

Jordanian industrial companies specialized in the food sector will begin their participation in SIAL Canada 2024 next Wednesday, which is scheduled to be held in Montreal.

In a statement Saturday by the Jordan Exporters Association (JEA), which is coordinating Jordan’s participation, SIAL Canada is considered one of the “key” global exhibitions in the food manufacturing field, in light of the “wide” presence from various world countries.

JEA Chairman, Ahmed Khudari, said coordinating Jordan’s participation in the exhibition aims to create marketing opportunities for Jordanian food industries, both within Canadian market and countries participating in the event.

Khudari added that Jordan participated for 13 times in the three-day exhibition, which will be held in its 19th session, and will see presence of the Kingdom’s companies operating in multiple food industries, primarily coffee, spices, condiments and desserts.

Khudari stated that the exhibition constitutes an “important” opportunity for Jordanian co
mpanies to promote their products and learn about the latest developments and modern technology in food manufacturing, which contributes to developing and raising level of national products in keeping pace with global developments in this field.

According to Khudari, more than 500 exhibitors representing about 50 countries are expected to take part in the exhibition, which constitutes an opportunity to open “new” markets for national industries.

Khudari said Canadian market is one of the most “promising” markets for national products, referring to “broad” opportunities for exporting national industry, in light of the existence of a Jordan-Canada free trade agreement (FTA), which provides “great” opportunities and an incentive to stimulate trade and enhance investment opportunities in the Kingdom.

Jordan and Canada are linked to a FTA, the first agreement that Canada signed with an Arab country in 2009 and entered into force in 2012.

Additionally, Khudari noted importance of industrial exports in stimulati
ng national economy by increasing production, expanding existing investments, and providing more job opportunities, in addition to enhancing Jordan’s foreign currency reserves.

Jordan-Canada trade exchanges amounted to JD135 million last year, of which Jordanian exports accounted for about JD90 million, according to official data.

Source: Jordan News Agency