Trends in Free Trade: Legal and Policy Perspectives on Jordan’s Regional Trade Arrangements

Abstract

are actively pursuing regionalism as a route to integrate their economies into the global system and promote sustainable economic development. 7 Jordan is no exception. Jordan has followed a liberalization policy in an attempt to increase foreign investment and create more job opportunities. 8 Currently, Jordan is ranked as one of the most open economies in the world. 9 Jordan acceded to the WTO in 2000 and became party to trade liberalization arrangements with various countries, including the United States, the European Union, and, most recently, Canada. 10 This Article is both part of and funded by the WTO Chair Program at the University of Jordan. It presents an overview of the legal and factual status quo of Jordan's regional trade arrangements, touching upon their development and coverage, as well as surveying/examining Jordan's existing foreign trade policy. This Article is not meant to be an extensive analysis of Jordan's free trade arrangements; rather, it is designed to tackle legal and policy concerns regarding some essential aspects of Jordan's regional trade policies. While the Article does not analyze the economic consequences of these RTAs, it does use several points of economic data in the arguments presented herein. Part I defines the WTO's legal framework with respect to regional and preferential trade and also outlines the theoretical foundation of regional and preferential trade. Part II sheds light on Jordan's trade policy and underlines historical milestones achieved during its progression. Part III is connected with Part II and it considers Jordan's regional and preferential trade agreements in order to pave the road for the discussion in the ensuing parts. Part IV proceeds to define each trade agreement to which Jordan is a party and offers certain remarks on each of these agreements. Finally, Part