Iraqis walk past a stall selling Christmas ornaments in the Shorja market in central Baghdad on Dec 26, 2021. (SABAH ARAR / AFP)

AMMAN - Jordan and Iraq on Wednesday agreed to establish a joint economic zone on their border to boost economic cooperation between the two countries, state-run Petra news agency reported.

The announcement was made by Jordanian Industry, Trade and Supply Minister Yousef Shamali and visiting Iraqi Minister of Industry and Minerals Manhal Aziz al-Khabbaz after they chaired an extraordinary meeting of the general assembly of the Iraqi-Jordanian Industrial Company in Amman.

Products and enterprises in the economic zone will be offered exemptions and benefit from free trade agreements Jordan has signed with other countries, Jordanian Industry, Trade and Supply Minister Yousef Shamali said

An advisory institution will be chosen to help the development of the border economic zone and attract necessary investments, according to the two ministers.

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Shamali said the zone is expected to promote Jordanian-Iraqi economic integration, especially in industry.

Products and enterprises in the economic zone will be offered exemptions and benefit from free trade agreements Jordan has signed with other countries, he added.

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The planned border economic zone can also help realize sustainable economic development, especially in eastern Jordan and western Iraq, by improving infrastructure and creating direct and indirect jobs, the two ministers noted.