AJEX 2004 highlights the trade agreements and relationships formed with the US, European Community and the Arab Region

The agreement came due to the aggressively pursued objective of trade liberalisation by the government. Overall tariff reductions have been ensued by the Jordanian accession to the World Trade Organisation (WTO), Euro-Mediterranean Association Agreement, and the signing of the Arab Free Trade Agreement (AFTA), all boosted Jordan's path to economic reform through programs and enhancing the private sector's role in economic liberalization.

Since Jordan signed the FTA with the US, Jordan exports to the US have increased from worth US$30.7million in 1999 to US$673.4million in 2003, and US exports to Jordan from US$275.7million in 1999 to US$491.9million in 2003. The JUSTFA has allowed for outstanding business opportunities and enhanced the attractiveness of the Jordanian market for global trade and investment in the manufacturing and services sector of the economy. Industries such as the Garments industry and Jewellery are exemplary citations for benefiting from the JUSTA and other trade agreements, whereby their exports to the US constitute 93.9% of total exports in 2003, the garment industry alone making up 86% of exports.

'Opportunities are a plethora especially with the trade preferences acquired with the JUSFTA. This has been highly evident in the jewellery, marble and stone products garment and apparel exports as well as electrical equipment exports to the US under the FTA,' said Mr. Rasim Abderrahim, International Trade Advisor, AmCham Jordan. 'In 2003 alone, the jewellery exports constituted the third highest export commodity to the US and the marble and stone product exports more than doubled.'

One of the main objectives of AJEX is to highlight business opportunities through the available routes allowed for under the FTA by providing sector-specific sessions for the dissemination of trade and investment leads through the forum. The forum and exposition also give participants the ideal platform to establish viable prospect trade contacts in the US, Jordan and the region via the networking opportunities available over the course of AJEX and the exhibition habitually running parallel to it, where exhibitors can showcase their products and services.

Jordanian and US firms, as a result of Jordan joining the WTO, already have significant access to each other's markets, specifically in the service sector. With the FTA signed between both countries, Jordan has further liberalised several areas in the service sector in order to stimulate more US investment in the Kingdom. AJEX recognises this important accomplishment and hopes to act as a crucial venue for businesses to meet and brings focus on sector specific subjects to benefit Jordan's growing economy and ascent to the global market.

'We are delighted to see AJEX grow over the years and become a business opportunities ladder for the Jordanian business community specifically.' said Mr. Azzam Shweihat, Chairman, AmCham Jordan, further adding ' But we have to also recognize that with the signing of the WTO and the FTA in 2000, a period of transition is involved, especially an undertaking of this scale, which involves the gradual revolutionizing of trade and economic policies in Jordan, evident with the creation of the more hospitable investment climate that the government has embarked on since 2000, thus gearing Jordan on the right road for strengthening trade and economic ties with the US and the region'.

AJEX 2004 this year will also be offering one of the biggest networking opportunities for participants with organisations such as Jordanian Government Ministries and Promotion Agencies, the U.S. Department of Commerce (DOC), the U.S. Department of State (DOS), the U.S. Trade and Development Agency (USTDA), the Centre for International Private Enterprise (CIPE), the U.S. Jordan Business Alliance, Arab American Chambers of Commerce and Regional AmChams, the Iraqi Assistance Centre at the U.S. Embassy in Jordan, Prime Contractors for Iraq Reconstruction and members of the American, Jordanian and International Business community.

AJEX 2004 is supported by the USAID - funded AMIR program, as well as a group of private sector sponsors, from which are Bank Audi, Barter Card, Aqaba Special Economic Zone Authority, Grand Hyatt Amman, with Royal Jordanian as the official carrier and Al Ghad and Al Waseet the official newspapers.