Amman, April 13 (Petra) -- Industrialists, confronting a complex global trade landscape, are advocating for a strategic pivot towards untapped markets and enhanced domestic competitiveness to bolster export performance.

The call comes as manufacturers grapple with rising costs and evolving international demand, seeking to leverage existing trade agreements and forge new alliances.

Industry leaders, speaking with Petra, emphasized the imperative for a comprehensive export strategy, one that aligns with Jordan's Economic Modernization Vision and the National Export Strategy.

This strategy, they argue, must encompass targeted market penetration, tailored to the nuances of distinct economic blocs, and the attraction of foreign direct investment to stimulate domestic production.

Data from the Jordan Chamber of Industry reveals a diversified export profile, with chemical products and cosmetics leading at 23%, followed by leather and textiles (22%), engineering and electrical goods (18%), and mining industries (13%).

The sector, comprising 18,000 establishments, produces 1,500 product lines valued at JOD 17 billion annually, with exports reaching 150 countries. However, export growth in 2024 remained modest at 1.4%, totaling JD 7.8 billion.

Ahmad Khudari, president of the Jordan Exporters Association, identified Latin America and Africa as key markets for expansion. He urged the reactivation of the Mercosur agreement and the pursuit of preferential trade arrangements to mitigate market saturation.

Khudari also proposed exploring trade ties with Russia and advocating for a 10% reduction in customs duties to maintain competitive pricing.

Fares Hammoudeh, president of the Zarqa Chamber of Industry, underscored the need for a holistic export strategy, aligned with national economic objectives. He advocated for targeted support for manufacturers in niche sectors, particularly those with established brands in food, engineering, and chemicals.

Hammoudeh also called for regulatory adjustments to facilitate the production of export-oriented goods and tax incentives to reduce production costs.

Majdi Hashlamoun, a board member of the Amman Chamber of Industry, stressed the importance of market research and targeted marketing campaigns to exploit export opportunities. He also proposed incentive programs to reward manufacturers who successfully penetrate new markets.

Fawaz Shakaa, representing the handicrafts sector, highlighted the need for import substitution to protect domestic industries, citing trade imbalances with neighboring countries.

Abdul Hakim Zaza, an industrialist, identified high production costs and limited market access as key challenges. He advocated for cost reduction strategies, market diversification, and enhanced export readiness through e-commerce and logistics improvements.

Zaza also cited International Trade Centre data indicating $6 billion in untapped export potential, particularly in India, the United States, and Saudi Arabia.

A recent report by the Jordan Strategy Forum highlighted export opportunities in the Middle East, South Asia, North America, Europe, and East Asia, particularly in fertilizers, chemicals, apparel, and minerals. The report also identified significant import substitution potential in sectors such as food, apparel, packaging, and plastics.

//Petra// AA


13/04/2025 13:27:39