TAG-Org, CFTC sign cooperation agreement to promote Chinese Jordanian trade exchange

The signing held in the city of Guangzhou, the largest center for trade and export in China, aims at jointly taking effective actions to strengthen cooperation between Chinese and Jordanian institutions through public promotion, mutual visits, trade fairs and exhibitions, and consultation.

Under the agreement, a direct link to TAG-Org's website will be added on the official websites of China Import and Export Fair (CIEF) and CFTC. TAG-Org will utilize all available resources to promote CIEF in the local market, assist in CFTC/CIEF promotional activities to attract prospective buyers and exhibitors, and add direct links to official websites of CIEF and CFTC on TAG-Org's website.

The agreement was signed by Mr. Luay Abu-Ghazaleh, TAG-Org's vice chairman, and Mr. Ren Xiangdong, CIEF's vice secretary general and vice chairman of CFTC, in the presence of Mr. Lai Wanzhu, cultural attaché of the Chinese Embassy in Amman.

The agreement will increase the value of trade exchange between the Kingdom and China, the second largest exporter in the world, and one of the largest trading partners of Jordan. The Jordanian-Chinese trade is estimated at about $1.8bn; however, Jordan's trade deficit with China is estimated to stand at $1.7bn.

Jordan is seeking to increase its exports to China and attract new investment from China to the Kingdom, which enjoys a central geographical location in the region, and has bilateral and multilateral trade agreements that enable Jordan access new export markets, regionally and internationally.

China Import and Export Fair also called Canton Fair was established in 1957 and held twice a year in spring and autumn. It is China's largest trade fair of the highest level, with complete varieties and extensive attendance and business turnover. Preserving its traditions, the CIEF is a comprehensive and multi-functional event of international importance. It is organized by CFTC/Ministry of Economy.