|
|
|
(Last updated: 29 Apr 2008)
Australians planning to travel to, or who are in the Middle East, are urged to exercise care and monitor developments that may affect their safety through the Department of Foreign Affairs and Trade's (DFAT) current general travel advice and bulletins.
Specific travel advice on Jordan is also available at DFAT. Individuals should take sensible precautions and ensure that travel documentation, including passports and any necessary visas, for themselves and their dependents are valid and up-to-date.
|
 |
|
|
|
| Capital city: |
Amman |
| Surface area: |
89,000 sq km |
| Population: |
5.6 million |
| Official language(s): |
Arabic |
| Head of State: |
H.M. King Abdullah II bin Al Hussein |
| Head of Government: |
H.E. Prime Minister Dr Marouf Bakhit |
| Australian exports to Jordan: |
A$92 million |
| Australian imports from Jordan: |
A$3 million |
| Jordan's principal export destinations: |
USA, Iraq, India |
| Jordan's principal import sources: |
Saudi Arabia, China, Germany | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
|
 |
|
|
Economic climate
Jordan is a stable economy that has benefited from economic liberalisation over the past few years, boasting growing affluence in the middle class and considerable incoming investment in infrastructure and other industrial projects.
Growth in excess of six per cent is forecast for the next four to five years. Australian companies will find doing business in Jordan considerably less complicated than they might expect. Business people are open, progressive and eager to cultivate fresh sources for supplies. Jordan is also a natural hub for companies wanting to do business with Iraq.
Key economic indicators and statistics for 2007:
- GDP – US$15.7 billion
- GPD per capita – US$2,741
- Real GDP growth – 6 per cent
- Inflation – 5 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
|
|
|
Political climate
Jordan is a constitutional monarchy with an elected parliament, ruled since 1999, by his Majesty King Abdullah II. Under the constitution, power is vested in the king and the parliament, which consists of a Senate and a House of Representatives. The king appoints the Prime Minister, the president and members of the Senate.
The Prime Minister forms a cabinet to manage the internal and external affairs of the government. The people have an elected House of Representatives which approves the appointed cabinet.
The prevailing tone of his Majesty King Abdullah II and the government is to continue the transformation of Jordan’s economy from one dominated by the public sector to a market economy that is open to and competes on the global market. Jordan is member of the WTO since 2000, ratified a Free Trade Agreement with the US in late 2001 and reached an economic association agreement with the EU.
In early 2001 Aqaba, Jordan’s sole port, was transformed into a special economic free zone making an ideal location for trade and investment.
Jordan economic, regulatory and investment climates is one the most advanced in the region. Milestones have been reached in privatisation and deregulation of state owned enterprises. Both the telecommunications and Amman water utility have been successfully privatised to international investors. Large state owned enterprises have been privatised or are earmarked for privatisation. This includes Jordan Phosphate, Royal Jordanian Airlines and Electricity Sector.
The king is active in promoting Jordan as an ideal country for ICT investment. Companies such as Microsoft, Cisco and others have shown great interest in making Jordan the centre for IT developments in the Middle East. |
|
|
|
Trade relations and statistics
Jordan has signed a Free Trade Agreement with USA and in 1999 succeeded in joining the World Trade Organization. This would lead to the reduction of customs from 35 per cent to 20 per cent in 10 years and the opening of global markets to Jordanian products. It would also stimulate foreign investments (a source of foreign currency) and promote Jordan as a gateway to international markets.
Jordan has four designated areas as qualifying industrial zones: Al Hassan Industrial City, Ad Dulayl Industrial Park, Al Tajamouat Industrial City and Al Karak Industrial Estate and has a partnership agreement with the European Union.
More details can be found through the Jordan Investment Board, which is aimed to market Jordan globally and link national and foreign companies through various ventures.
Major Australian exports to Jordan (2006-07)*:
- Live animals – A$39 million
- Meat (excluding bovine) – A$9 million
- Cheese and curd – A$5 million
- Milk and cream – A$3 million
*Includes A$22 million of confidential items
Major Australian imports from Jordan (2006-07):
- Fertilisers (excluding crude) – A$1 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
|
|
|