Embracing Free Trade and Accepting Peace with Israel Greatly Benefit Jordan

Despite the potentially economically devastating violence and chaos plaguing its neighboring countries, namely the recent conflict between Israel and Hezbollah and the US occupation of Iraq, Jordan has managed to continue almost unabated in its process of development. The Kingdom's willingness and ability to maintain relatively cordial relations with Israel since the mid 1990s was rewarded in 2000 with the signing of a free trade agreement with the US, making Jordan a member of the very small and privileged group of countries with free access to the tantalizingly tremendous US market.

Ever since, foreign investment, along with the growth of the Jordanian economy, has continued to increase. The creation of several qualified industrial zones (QIZs) have benefited Jordan immensely; they have attracted at least $800 million in foreign investment and it has been claimed that the QIZs created 19,000 jobs for Jordanians. Thanks to the absence of trade regulations between the US and Jordan, the Hashemite Kingdom can actually compete in the garment industry with countries such as China, and it appears that foreign investment in Jordan will continue to expand, increasing its growth and creating new jobs. In addition to the obvious economic benefits, many firms operating within the QIZs cooperate directly with Israelis, which could potentially lead to increased understanding and political cooperation and further the peace process. At the moment, it appears that Jordan is on the right track to economic growth and development.