Mr. Luay Abu-Ghazaleh, vice chairman for Talal Abu-Ghazaleh Organization and Mr. Ren Xiangdong, Vice Secretary General of the China Import and Export Fair and Vice Chairman of the China Foreign Trade Center signing a Cooperation Agreement

Talal Abu-Ghazaleh Organization signs a Cooperation Agreement to promote Chinese Jordanian Trade Exchange

Guangzhou, China - 26 January 2010 - Talal Abu-Ghazaleh Organization (TAG-Org) signed on January 13, 2010 a cooperation agreement with China Foreign Trade Centre (CFTC) in city of Guangzhou, the largest center for trade and export in China.

The Agreement aims at jointly taking effective actions to strengthen cooperation between Chinese and Jordanian institutions through public promotion, mutual visits, trade fairs and exhibitions, business travel and consultation.

Under the Agreement, a direct link to TAG-Org’s website will be added on the official websites of China Import and Export Fair (CIEF) and CFTC. TAG-Org will utilize all available resources to promote CIEF in the local market, assist CFTC/CIEF promotional activities to attract prospective buyers and exhibitors, and add direct links to official websites of CIEF and CFTC on TAG-Org’s website.

The Agreement was signed by Mr. Luay Abu-Ghazaleh, vice chairman for Talal Abu-Ghazaleh Organization and Mr. Ren Xiangdong, Vice Secretary General of the China Import and Export Fair and Vice Chairman of the China Foreign Trade Center, in the presence of Mr. Lai Wanzhu, Cultural Attaché of the Chinese embassy in Amman.

The agreement will increase the value of trade exchange between Jordan and China, the second largest exporter in the world, and one of the largest trading partners of Jordan. The trade balance between the two countries is strongly in favor of China. The Jordanian-Chinese trade is estimated at about $ 1.8 billion. It is estimated that Jordan's trade deficit with China stood at 1.7 billion dollars. Jordan is seeking to increase its exports to China and attract new investment from China to Jordan, which enjoys a central geographical location in the region, and has bilateral and multilateral trade agreements to enable Jordan to access new export markets, regionally and internationally.

China Import and Export Fair, also called Canton Fair, is held twice a year in spring and autumn since it was inaugurated in the Spring of 1957. It is China's largest trade fair of the highest level, with complete varieties and extensive attendance and business turnover. Preserving its traditions, the CIEF is a comprehensive and multi-functional event of international importance. It is organized by CFTC/Ministry of Economy.