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Wednesday, August 27, 2008

"Jordan and Canada sign FTA," NAM News Network, August 27, 2008.

AMMAN, Aug 27 (NNN-PETRA) -- The third round of negotiations between Jordan and Canada held here during the past two days concluded with the signing of a preliminary free trade agreement to increase trade volume and the establishment of joint investments in both countries, according to a statement issued by the Ministry of Industry and Trade.

The agreement, which is the first in the Arab region signed with Canada, will be signed in final form during the awaited visit of the Canadian Prime Minister to Jordan.

Another two agreements will be signed in the field of environment, labour, and protecting and encouraging investments between the two countries in a timely manner.

The agreement was signed Tuesday by Secretary-General of the Ministry of Industry and Trade Chairman of the Jordanian delegation Muntaser Al Uqla and the Director of Access to Markets Department in the Canadian Ministry of International Trade Martin Brand.

Uqla said that the agreement was an outcome of the King's visit to Canada in July last year, when the leadership of the two countries announced the start of negotiations on signing the free trade agreement between the two sides, pointing out that the agreement will add special advantages to the national economy through preferential advantages given to Jordan.

He pointed out that the Jordanian commodities exported to the Canadian markets will be exempted of customs duties, while Jordan will reduce customs duties on Canadian commodities to a transitional period of five years.

Uqla also said that the signing of cooperation agreements on environment and labour between the two countries will contribute to improved labour standards and environment in Jordan to cope with international requirements and strengthening technical cooperation between the two sides in these areas, which would have positive effects on business and investment environment in Jordan.

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