King Abdullah invites US investors to boost country's textile fortunes
06 Feb '06
2 min read
Embassy of Jordan informed that His Majesty King Abdullah urged US investors in the textiles industry to increase their investments in Jordan through partnerships with local businessmen.
At a meeting with several leading industrialists in the textile sector, the King outlined the incentives that Jordan offers to foreign investors, especially in the clothing sector.
He highlighted the privileges enjoyed by textile manufacturers in the Kingdom's Qualifying Industrial Zones (QIZs) and the benefits investors can reap from the Jordan-US Free Trade Agreement (FTA).
He noted that, thanks to QIZs and FTA, Jordan's exports to the US went up from $13 million in 1999 to nearly $1 billion at present.
The bulk of these export, the King told his audience, comes from the textile and garment industry. Exports of the sector have a potential to further grow, he said.
He assured the potential investors that Jordan is intensifying efforts to train Jordanian workers with the aim of increasing their productivity.
Industry and Trade Minister Sharif Zu'bi explained in a presentation the characteristics of Jordan's investment environment that make the Kingdom a key regional player in attracting foreign capital.
On the sidelines of the meeting, a cooperation agreement was signed between the US Association of Importers of Textiles and Apparel and the Jordanian Association of Texiles and Garment Exporters.
Under the deal, the two sides will exchange know-how and expertise and hold joint meetings and conferences, among other activities that help promote made-in-Jordan textiles in the US markets.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
