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    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Egypt secures $66 mln from EU, AFD to expand wheat storage

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    Agreements signed to establish 4 food factories in Jordan

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    Morocco set to launch potash project: report

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    Food Africa and pacprocess MEA to launch in December with an even larger area

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

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      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

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      International investors keen on entering Saudi market, says minister

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      Egypt aims to enhance contribution of IT sector to GDP: Talaat

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      Saudi airports witness 42% rise in passengers in first 4 months of 2023

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      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

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      Egypt starts implementation of silicon production project in New Alamein

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      Value of Saudi construction contracts jump 35% to $51.3bn: report

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      Qatar to implement new strategies for real estate development

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      Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

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        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

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        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

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        Iraq agrees to 30% stake in TotalEnergies $27bln energy project

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          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

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          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

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          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
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          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Agreements signed to establish 4 food factories in Jordan

          Agreements signed to establish 4 food factories in Jordan

          Morocco set to launch potash project: report

          Morocco set to launch potash project: report

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Trending Tags

          • Business & Economy
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            • Business
            • Economy
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            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            International investors keen on entering Saudi market, says minister

            International investors keen on entering Saudi market, says minister

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Egypt starts implementation of silicon production project in New Alamein

            Egypt starts implementation of silicon production project in New Alamein

            Trending Tags

            • CES 2017
            • Election Results
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          • Construction
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            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Qatar to implement new strategies for real estate development

            Qatar to implement new strategies for real estate development

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
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              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              Oman’s refinery products output jumps by 44%

              Oman’s refinery products output jumps by 44%

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Oman signs $20bn hydrogen deals

              Oman signs $20bn hydrogen deals

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              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Jordan’s exports to Europe set to increase

              OBG

              August 25, 2016
              in Economy, Trade
              0
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              The number of Jordanian exports to the European market is expected to rise following a newly inked deal with the EU that relaxes the rules of origin stipulations.

              More relaxed rules of origin will enable industries in Jordan to export goods made using 70% of non-local materials. The agreement covers 52 product groups manufactured in 18 industrial and development zones.

              According to Imad Fakhoury, minister of planning and international cooperation, the agreement is set to attract local and foreign investment, as well as open new markets and support a wider diversity of exports.

              The 10-year agreement came into effect after being signed at the 10th session of the Jordan-EU Partnership Committee held in Amman in July, and marks the first deal of its kind between the EU and a Middle Eastern country.

              Incorporating refugees
              In addition to stimulating the flow of exports, the deal also represents an opportunity for Jordan to create employment opportunities for its workforce amid regional uncertainty.

              According to the terms of the agreement, the workforce in the specified industrial zones must be comprised of at least 15% Syrian refugees, a number that is set to increase to 25% in 2019. After 200,000 Syrian refugees are provided with work, the relaxed rules of origin will be expanded to other industries across Jordan, Fakhoury told local media in late July, as long as the percentages of Syrian labor are respected.

              Jordan is currently host to roughly 1.4m Syrians – comprising 20% of the country’s total population – which has posed challenges to employment, public health and education services.

              Partly due to the refugee influx as well as a cooling economy, the country’s unemployment rate has been rising, from 11.9% in the second quarter of 2015 to 14.7% for the same period this year, according to data released by the Department of Statistics.

              More still to do
              Following the agreement, the Jordan Strategy Forum (JSF) issued a 30-page study saying that, while the deal is a positive step towards enhancing Jordan’s exports, it is still not enough.

              The JSF reported that the agreement excludes numerous industries that are ready to export to the EU market but do not fall under the predetermined sectors or zones.

              “Many renowned Jordanian manufacturers who can meet the quality demanded by the European market and do already produce in large quantities are ready to begin immediately exporting to Europe, which makes them instantly able to create jobs for both Syrian and Jordanian labor. These firms, however, are not willing to move to industrial zones to benefit from relaxed rules of origin due to the costs associated with relocating their factories,” the JSF study said.

              The study suggested the deal should be expanded geographically beyond the boundaries of the industrial zones listed in the EU’s Proposal for a Council Decision.

              Furthermore, the study criticized the exclusion of certain industries, such as food manufacturing, emphasizing the sector’s potential to compete in the EU market, particularly due to high demand for halal food in Europe.

              Exports further afield
              The recent agreement between Jordan and the EU should go some way to remedying the existing trade gap between the two, with Jordan’s trade deficit with the EU increasing from $1.34bn in 2002 to approximately $4bn in 2015.

              Due to the more stringent rules of origin previously in place, Jordanian exports to the EU grew minimally from $60m in 2002 to $350m last year.

              In comparison, Jordanian exports to the US reached over $1.3bn last year, namely due to a free trade agreement between the two countries, as well as more relaxed rules of origin, with the US and Canada requiring manufactured products to require 35% of local Jordanian contribution whereas Europe required 65%, Prime Minister Abdullah Ensour said at a conference prior to the new deal.

              While the EU represented just 4.1% of Jordan’s exports, the US and Canada accounted for approximately 19%, and the Greater Arab Free Trade Area accounted for more than 51%, according to data issued by the Ministry of Industry, Trade and Supply at the end of last year.

              Meanwhile, Jordan’s exports have decreased due to regional instability. Iraq – which represents Jordan’s second-largest market after the US – saw a decrease of 37% in exports during the first eight months of last year. Likewise, exports to Syria dropped by 40%, hindering Jordan’s ability to trade with Lebanon, Turkey and the EU.
              Oxford Business Group
              25 August

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