Jordan, Turkey mending fences over trade agreement dispute
During a time of shifting alliances, Ankara views Jordan as an important potential ally — which no doubt has been a factor in Turkey's decision to renegotiate a free trade pact that Amman says favors Turkey.
Jordan said April 1 that it will reconsider its decision to suspend its free trade agreement with Turkey if Ankara agrees to specific conditions. The agreement has been in effect since early 2011.
Last month, Jordan announced it would suspend what it termed a lopsided free trade agreement beginning in September unless the two sides can iron out their differences. The Jordanian Ministry of Industry, Trade and Supply said the decision was necessary to “avoid further negative effects on the Jordanian industrial sector in light of unequal competition.”
A senior Turkish diplomat told Al-Monitor, “There are three areas that we are working on: evening out the balance of trade between the two countries, increasing the extent of Turkish investments in Jordan and simplifying the rules of the free trade agreement.”
Turkey has said in the past that it is willing to consider those very proposals, officials in Ankara said. There is good reason to be hopeful, as Jafar Hassan, the Jordanian deputy prime minister and state minister for economic affairs, met March 20 with Turkish members of the Jordanian-Turkish Business Council to discuss further investment opportunities in Jordan. Ankara said then it was optimistic that the terms can be renegotiated.
