“The aggressive reforms and programs that are under way in Jordan ... make clear that Jordan is open for business”

U.S. Commerce Secretary William Daley
May, 1999

Since the economic crisis Jordan faced in 1989, the government has paid special attention to developing the economy. After 1999, when His Majesty King Abdullah II took the throne, the process of reforming the economy has been accelerated. Privatized firms have since boosted economic growth and helped Jordan’s role in the global economy. Jordan’s WTO membership in 2000 and the establishment of the Aqaba Special Economic Zones (ASEZ) have encouraged foreign investors to take advantage of Jordan’s opportunities. The Jordan-U.S. Free Trade Agreement (FTA) is a unique prospect for Jordan to accelerate economic growth through increased U.S. trade and investment. Jordan’s signing of the Qualified Industrial Zones (QIZ) Agreement with the U.S. and Israel has also sought to advance the economy and presents the opportunity to export duty-free into the U.S. market. Moreover, microfinance projects have been a source of funding to small businesses in Jordan and aid those less privileged in society.