Executive Summary

Jordan’s foreign trade policy is based on the norms of economic openness and integration into the rapidly globalizing world economy. It incorporates the country’s vision and positiveness in viewing economic partnerships as necessarily achieving both mutual interests and fair dividends. Jordan has made giant strides on the path of economic and trade liberalization in addition to reinforcing mechanisms and functioning of a market-oriented economy that is built on an active role of the private sector in managing economic activities. This was made possible through an intensive reform process bringing about a modern and conducive regulatory environment for business and investment.

Today, Jordan is at the forefront of the Middle Eastern liberal economies that gained wide respect and recognition for their reforms and economic endeavors. In fact, Jordan is cited as an example in economic policy for emerging nations that could creatively overcome the dilemmas of the scarcity of material and natural resources. In such a short time, Jordan managed to nurture its economic ties with its neighboring Arab countries through joining the Greater Arab Free Trade Area (GAFTA) and signing a number of bilateral trade agreements; enter into an association agreement with the European Union; sign a free trade agreement with the United States of America soon after successfully joining the World Trade Organization (WTO) in 2000; as well as sign free trade agreements with the European Free Trade Association (EFTA) countries and Singapore.