QIZQualified Industrial Zone
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With regard to the reduction of the Israeli component in the QIZ agreement from 10.
He said his country considers the QIZ agreement a trade deal, rather than a political one, so it seeks to obtain more economic benefits.
Under the trade agreements with Jordan, as laid down by the United States, goods produced in QIZ notified areas can directly access US markets without tariff or quota restrictions, subject to certain conditions.
QIZ supporters also contend that Jordan benefits through support services because QIZ companies must subcontract to domestic firms for workers' transportation, food, housing, banking and insurance.
Called the 'Better Work Jordan' project, the ILO backed initiative will impact on the textile companies working at the QIZ, said Farhan Isram, managing director of Sterling Apparel Manufacturing and chairman of the Jordan Garments, Accessories, & Textiles Exporters' Association (JGATE).
These QIZ were given a special status of unique value to Jordan's export sector and its ambitions.
These QIZ agreements provide for preferential access to the U.
The product manufactured by this industrial park (QIZ) can be exported to the USA duty free provided a 35 percent portion of the product comes from the QIZ, Israel, and/or the West Bank/Gaza.
Jordan and Israel share five QIZ and produce goods that target many Western and Arab markets.
Companies in a QIZ can export to the United States without duty or quota restrictions if the Egyptian goods contain at least an 11.
In order to strengthen this vital economic relationship, the delegation will promote the expansion of the Qualified Industrial Zone initiative (QIZ) beyond the current 11 sites by creating satellite units composed of individual factories to be designated as QIZs and run by current QIZ investors, this change will expand Israeli-Jordanian economic cooperation, help boost Jordan-US trade and help create jobs and spur U.
Ashraf El Rabiey, QIZ unit head at the Ministry of Trade and Industry, said that QIZ exports rose by 1.