Jordan, Saudi Arabia pursue closer economic cooperation

[04-11-2019 02:27 PM]

Ammon News - AMMONNEWS - Private sector representatives from both Jordan and Saudi Arabia have called for launching a new phase of economic cooperation between the two countries and said ample opportunities exist for closer economic integration.

The call came at a Jordanian-Saudi business forum organized by the Jordan Chamber of Commerce in cooperation with the Council of Saudi Chambers.

Speaking at the event, Minister of Industry, Trade and Supply, Tariq Hammouri, stressed that there are abundant opportunities to cement economic and trade cooperation between Jordan and Saudi Arabia as the two countries maintain strong and distinguished political relations.

Hammouri, who opened the forum, said that the Jordanian-Saudi relations are a distinctive example of intra-Arab relations and a unique and vivid example of strategic integration in all political, social and economic fields, which is getting stronger and steadier over the years, thanks to the vision and will of the wise leaderships in both countries.

He pointed out that the value of Saudi investments in Jordan exceeded $10 billion in various sectors, including transport, infrastructure, energy, finance and real estate.

The minister said that Saudi Arabia is Jordan's top trading partner with the two-way trade exchange between the two countries amounting to $4.1 billion last year.

Hammouri called on the private sector to take advantage of the investment potentials available in both countries, and to seek to reflect them in realistic projects by opening new partnerships and expanding areas of cooperation and mutual investments to reflect positively on the sustainable development sought by the two countries.

Head of the Council of Saudi Chambers, head of the Saudi delegation to the forum, Sami bin Abdullah al-Obeidi, expressed hope that the forum would be the cornerstone for moving economic and trade relations in the right direction.

Al-Obeidi pointed out that Jordan, especially its human resources, makes it a destination for investment, hoping that the forum will be the beginning for launching joint investments and achieving convergence and networking between companies of the two countries.

The Saudi ambassador to Jordan, Mohammed Al-Ateeq, stressed the distinguished relations between the two countries, calling for more focus on promising sectors such as alternative and renewable energy.

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