Amman, May 15 (Petra) – President of Jordan Chamber of Industry (JCI), Fathi Jaghbeer, on Thursday affirmed lifting economic sanctions on Syria marks a “strategic” step that would revive Jordanian-Syrian economic and trade ties.

In a statement, Jaghbeer emphasized the “historic” and economic mutual interdependence, noting that easing restrictions on goods movement and financial transfers would “significantly” facilitate bilateral trade.

Jaghbeer pointed out that U.S.-imposed sanctions in recent years particularly the Caesar Act, enacted in 2020 had severely hampered banking transactions and trade flows, limiting ability of Jordanian investors to access the Syrian market.

Expressing optimism about renewed commercial activity, Jaghbeer noted Jordanian exports to Syria, which once surpassed JD181 million, have recently shown signs of recovery. Exports reached over JD13 million in the first two months of this year, marking a 40 percent increase compared to the same period in 2023.

Jaghbeer, who also heads Amman Chamber of Industry, stated relaxation of restrictions is expected to accelerate the movement of goods, opening the door for greater private sector engagement, particularly in reconstruction-related sectors such as infrastructure, building materials, and energy.

He also highlighted opportunities for Jordanian products in pharmaceuticals and food industries, where Jordan holds a “competitive” advantage.

Jaghbeer called for comprehensive coordination to ensure Jordanian industries benefit from emerging regional opportunities.

He stressed the need for logistical readiness to position Jordan as a “central” hub for reconstruction efforts, urging mutual agreements with Syria to safeguard Jordan’s commercial interests.

Underscoring Jordan’s “strategic” geographic role, he noted the Kingdom is “well-positioned” to serve as a regional logistics corridor for supplying goods to Syria, Lebanon, and Turkey.

This privilige, he added, would enhance Jordan’s status as a regional trade gateway and support the revival of its exports to neighboring markets via Syrian territory.

//Petra// AO
15/05/2025 15:02:38