Press Room
 

FROM THE OFFICE OF PUBLIC AFFAIRS

June 26, 2000
LS-749

Statement by Deputy Secretary of the Treasury Stuart E. Eizenstat
"A New Era of Economic Cooperation"
Amman, Jordan

I have just had the privilege of meeting with your new government, having a constructive meeting with Prime Minister Abu Ragheb, and last night meeting with Deputy Prime Minister for Economic Affairs Halaiqah and the Ministers of Information Rifai, Minister of Industry and Trade Azar, Minister of Telecommunications Zoubi, Minister of Transport Kalaldeh, Minister of Water Halawani, Minister of Labor Fayez and the Acting Minister of Foreign Affairs Irsheidat.

King Abdullah is to be congratulated for selecting an experienced and creative team, dedicated to implementing the King's vision of a new Jordanian economy fully integrated into the high tech global economy of the 21st century.

I have pledged to your government that we will be your partners in a new era of U.S.-Jordanian economic cooperation. We will do everything we can to help your new government and your country achieve its economic goals of more jobs, higher growth and lower unemployment. We have deepened our economic partnership with Jordan over the past several years as with few other countries in the world.

  • Our foreign assistance has gone from under $10 million in 1992 to Jordan becoming the fourth largest recipient of foreign assistance -- $1 billion of economic and military support over three years. Jordan has earned this with its courageous stand for peace in the Middle East and anchor of stability it provides for this region.
  • We have worked with you to help you achieve your historic accession to the World Trade Organization this year.
  • We have cooperated with you to create five QIZs that now employ some 5,000 Jordanians and provide duty free treatment into the U.S. market for all products produced there.
  • We have encouraged US companies to develop joint ventures with Jordanian companies to create new job opportunities in Jordan.

And this week we are beginning preliminary discussions with Jordan between Deputy Prime Minister Halaiqah and U.S. Trade Representative Barshefsky that should lead to a Free Trade Agreement, an agreement we have with only a few countries around the world. Nothing better demonstrates President Clinton's and Vice President Gore's dedication to this new era of economic cooperation with Jordan. We are all very enthusiastic about the prospect of negotiating this FTA with Jordan. Over forty-five members of the House and Senate have already voiced their support for a FTA with Jordan. At the President's direction, we have already begun to prepare for these important talks. An FTA will contribute not only to Jordan's economic growth but also to the economic prosperity of the entire region.

In the meetings I had last night and this morning, I was impressed with the commitment of your new ministers in moving forward with privatization in telecommunications, ports, the airlines, water distribution and management, railways, and other areas. I also heard about the exciting plans for a Special Economic Zone in Aqaba that will encourage more foreign investment. I am hopeful that US investors will increasingly find Jordan a positive place in which to invest and create jobs. There are an increasing number of U.S. companies interested in doing business in Jordan. His Majesty's succesful visit to the United States will stimulate even more interest.

At a regional level, my meetings here will lead me to urge the Israelis to encourage a quantum increase in Jordanian exports to West Bank/Gaza and Israel. Given the circumstances in the region, it is critical that Jordan find dramatically increased export markets in the West Bank/Gaza and Israel. The new pilot project to permit door-to-door delivery from Jordan to the West Bank is an important start and we hope it will be implemented immediately. I also hope that cooperation with Israel on labor mobility will create good paying jobs for Jordanians. We wish the new government well and pledge our full cooperation with it.