Jordanian-Saudi business forum keen to take economic cooperation to next level

AMMAN —  The Jordanian and Saudi private sectors on Monday called for launching a new phase of economic cooperation between the two countries.

Representatives from the two private sectors, during a Jordanian-Saudi business forum organised by the Jordan Chamber of Commerce in cooperation with the Council of Saudi Chambers, said that “conditions are ripe” for taking vital steps towards the best interests of both countries.

 Minister of Industry, Trade and Supply Tareq Hammouri, who attended the opening ceremony, said that in light of the deep Jordanian-Saudi political relations, there are “ample opportunities” to advance economic and trade cooperation between the two countries.

Hammouri added that Saudi Arabia is one of the Kingdom's top investors, with investments exceeding $10 billion in various sectors, including transport, infrastructure, energy, finance and construction of tourism facilities.

Saudi Arabia is Jordan's top trading partner, with a trade exchange of $4.1 billion in 2018, he said, pointing out that Saudi Arabia received 24 per cent of Jordanian exports to Arab countries, while Saudi products constituted 17 per cent of Amman's imports.

For his part, Jordan Free and Development Zones Group (JFDZG) Chairman Khalaf Hmeisat said that the value of Saudi investments in the JFDZG have reached JD38.5 million, noting that the figure is “among the highest of its kind”. 

Hmeisat added that the value of Saudi investments in public and private free zones, in accordance with registered capital, stands at JD3.5 million divided among 27 companies.  

Jordan Chamber of Commerce President Nael Kabariti expressed gratitude for Saudi Arabia's recent decision to ease the movement of Jordanian goods through the Gulf country, calling for addressing all obstacles that may hinder the movement of businesspeople between the two countries.

Head of the Council of Saudi Chambers Sami Bin Abdullah Al Obeidi expressed hope that the forum would be the “cornerstone for pushing the economic and trade relations in the right direction”.

Deputy ambassador of the Saudi embassy in Amman, Mohammed Ateeq, highlighted the sector of alternative and renewable energy, calling for focus to be put on this arena, given the “suitable sources and infrastructure” of the two countries.