JORDAN: Foreign Textile Firms Benefit From New Industrial Zones
Officials claim Jordan could be turned into a textile industry "hub" thanks to its new Qualifying Industrial Zones (QIZ) and the newly endorsed Free Trade Agreement (FTA) with the United States.
Up to 20 textile factories have already been set up in Jordan by companies from Pakistan that have invested $30 million in the QIZ production facilities and employ around 5,000 Jordanians.
There are currently six QIZs with that number set to grow to 10 in the next few months. Textile exports from firms based in those zones are predicted to top $50m this year.
"The QIZ is a very unique arrangement. I feel that this concept could be beneficial not only to Pakistan but also to Jordan," Islamabad's Ambassador to Amman, Tariq Fatimi, said in an interview with The Jordan Times.
"We have had considerable success in promoting the QIZ to the business community in Pakistan which has established 16 plants in these areas with a capital of $30m."
He added that Pakistan had failed to increase its textile exports to Europe and the US because of restrictions and quotas in both markets.
"Now if our businessmen transfer their factories to or establish new ones in Jordan, we will be able to export duty free and quota free market to the US."
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