Jordan-Canada FTA sailing smoothly in final process of endorsement
Jordan Times | 15 October 2010
Jordan-Canada FTA sailing smoothly in final process of endorsement
AMMAN — The free trade agreement (FTA) between Jordan and Canada is expected to go into effect in the first half of next year, according to a top Canadian official.
"The agreement now is in the parliamentary processة we have passed the second reading in the House of Commons, which is the most difficult step," Canadian Minister of International Trade Peter Van Loan told The Jordan Times this week during a several-hour visit to Jordan.
He said no changes have been made to the FTA with Jordan so far, noting that the process of approving the agreement has progressed smoothly with "very" little resistance compared to FTA agreements signed with other countries.
The minister, who is on a regional tour that will include Saudi Arabia, Kuwait and Qatar, accredited the "strong" relationship between His Majesty King Abdullah and Canadian Prime Minister Stephen Harper for the momentum in signing the FTA.
"Jordan is also seen as a practical country with business orientation that is open to trading and has a sound rule of law," Van Loan said, noting that the Kingdom will benefit from the FTA with Canada in terms of wider scope of trade and lower prices for consumers.
"Agricultural products is a major area of cooperation between the two countries," the minister indicated.
He underlined the significance of the FTA with the Kingdom in terms of encouraging further investments in Jordan and enhancing the bilateral trade.
"The FTA will create new export opportunities for Jordanian products through other countries that are already signatory to free trade agreements with Jordan and Canada," he indicated.
According to the Canadian embassy, the bilateral trade stood at 81 million Canadian dollars in 2009, compared to 92 million in 2008.
"Trade is moving in the right direction," the official underlined, noting that trade has dropped everywhere in 2009.
He did not rule out Canadian companies’ interest in the strategic location of Jordanian to penetrate the Iraqi markets, stressing that Jordan is seen as a strong platform for business.
"If Canadian investors had successful investment experience in Jordan, if they were treated fairly and made good money then more and more Canadian investments will flow here," the minister said.
Van Loan described Canada’s economy as "very" strong whether in fiscal terms or economic growth and boasted the signing of FTAs with nine countries in the last four years.
"We also have low taxes and now there are no taxes on equipment going into manufacturing regardless of which countries they come from," he said, indicating that Canada also has the best skillful workforce in the world.
"There is comfortable level of English language proficiency in Jordan," Van Loan remarked. "We consider such aptitude as an advantage for Canada over other competitors."
The Royal Jordanian operates regular direct flights between Amman and Montreal.
