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Trading volume between Jordan and Iraq is expected to hit $1 billion in 2002. A new trade agreement between the two nations is designed to increase Jordan's exports to Iraq to $450 million this year.

* Trading volume between Jordan and Iraq is expected to hit $1 billion in 2002. A new trade agreement between the two nations is designed to increase Jordan's exports to Iraq to $450 million this year. The agreement, signed this week in Baghdad, also stresses the diversity of Jordanian exports focusing mainly on pharmaceuticals and industrial products. Iraq has promised to construct a new oil pipeline to facilitate easier transport of Jordan's oil supplies from Iraq. The pipeline is expected to begin operation by 2004.

* Zarqa governorate received JD 111.5 million in financial aid through the government's development program for Jordanian governorates. This comprises about 23.2 percent of the JD 480.7 million allocated for the developing of the Kingdom's 10 governorates. The three-year program is dedicated to four economic sectors: Agriculture, tourism, industry, and mining. This year, the program allocated JD 37.3 million for the development projects, while next year the amount will increase to JD 41 million. In 2003 the program closes with JD 33.3 million.

* Jordan's pharmaceutical and IT manufacturers are working on a plan to begin joint projects in Europe. A delegation from these companies will visit London in November to look for partnerships with British counterparts. The delegation is organized by the Jordan Investment Board and will comprise representatives from the private sector. Jordan's annual exports of IT products are estimated at $60 million. That figure doubles for the pharmaceutical industry to $160 million. The delegation is also expected to discuss ways to facilitate a flow of advanced technology from British markets to Jordan.

* The Arab Potash Co's semiannual profits in 2001 increased by 8.13 percent over last year to JD 16.2 million. The company also increased its sales by 4.2 percent to JD 71.6 million. APC's assets this year stood at JD 394 million on 30 June. The 43-year-old company has JD 83.3 million in capital, with JD 54.8 million in cash reserves. The government owns 55.4 percent in APC's shares, while the remaining 44.6 percent are divided between Arab and foreign investors.

* Non-Jordanian labor is estimated at more than 300,000 workers. Minister of Labor, Eid Fayez, said the government is working hard to decrease the foreign labor and mobilize Jordanians to replace them. About 85 percent of the foreign laborers in Jordan are Egyptian. Official statistics indicate the unemployment rate is 13.3 percent, but unofficially that number is said to be 25 percent.

* A new light-footed train is expected to begin operation between Amman and Zarqa late next year. The JD 60 million-project is looking for bidders to build the railway. Minister of Transportation Nader Al Dahabi said the government wants to shoulder some of the construction costs, though private investors will operate the project entirely.

* The 2002 Budget of Greater Amman Municipality is expected to be JD 76 million, the biggest in Amman's history. Municipality sources said next year's budget will include a large allotment for housing projects and investments taking place around the capital. GAM's services are also expected to witness gradual growth next year due to the mounting projects of Amman municipality.

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Media of 1stjordan
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The 'First Jordan' Card
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