INSEAD Day 4 - 728x90

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Jordan approves measures to stabilize commodities prices

New measures were approved in a session chaired by the Prime Minister, Bisher Khasawneh.
  • Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30 percent for three months
  • The procedures also included reducing customs duties on some basic foodstuffs, increasing work efficiency and expediting completion of customs transactions, inspecting containers

Jordan on Wednesday approved a set of measures and proposals that would facilitate the flow of basic commodities and enhance the strategic stock, thus contributing to the stability of basic commodities and food prices.

Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30 percent for three months, in all inspection stakeholders, such as the Ministry of Agriculture, the Aqaba Special Economic Zone Authority (ASEZA), the Jordan Standards and Metrology Organization (JSMO), and the Jordan Food and Drug Administration (JFDA)).

The procedures also included reducing customs duties on some basic foodstuffs, increasing work efficiency and expediting completion of customs transactions, inspecting containers arriving at the port of Aqaba (Yard No. 4) from all regulatory authorities, and mandating them to work 24/7.

They also included extending the exemption period for storing containers from 6 days to 14 days for three months for basic materials only, in addition to reducing the inspection fees on containers in Yard No. 4 by JD15 per container for basic materials for three months. Under the decision, the inspection fee for a 40-feet capacity container becomes JD60 instead of JD75, and a 20-feet capacity container will be worth JD50 instead of JD65.