Amman: Minister of Industry, Trade, and Supply Yarub Qudah emphasized the need for a robust economic partnership between Jordan and Saudi Arabia to benefit both countries' interests. Speaking at the Jordanian-Saudi Business Forum, which was organized by the Jordan Chamber of Commerce in conjunction with the Federation of Saudi Chambers and the Saudi Export Development Authority, Qudah highlighted the urgency of creating a new economic cooperation framework to adapt to shifting global trade dynamics and protectionist trends.
According to Jordan News Agency, Qudah pointed out the potential for joint ventures to tap into emerging markets, especially in Africa, where growth rates in Central and East Africa are as high as 8 percent. He noted that Saudi Arabia ranks as Jordan's second-largest trading partner, portraying the bilateral relationship as a benchmark for Arab economic collaboration.
Khalil Haj Tawfiq, President of the Jordan Chamber of Commerce and Head of the Jordanian side in the Joint Business Council, emphasized the private sector's role in developing a cohesive economic strategy. He identified promising sectors for investment, including food industries, agriculture, and tourism.
The trade exchange between Jordan and Saudi Arabia has reached JD15.3 billion over the past three years, with Saudi investments in Jordan estimated at $15 billion across sectors like transportation, energy, infrastructure, and finance.
Hamdan Samreen, head of the Al-Jouf Chamber of Commerce and the Saudi side of the Joint Business Council, praised the growing bilateral trade and investment. He expressed optimism about boosting cooperation in vital sectors such as energy, mining, logistics, and information technology.
Zayed Asmari, Commercial Attach© at the Saudi General Authority for Foreign Trade, reiterated the strong trade relations between the two nations, citing their strategic locations, shared agreements, and economic complementarities. He stressed Saudi Arabia's dedication to expanding trade partnerships and removing investment barriers.
On the forum's sidelines, Zaher Qatraneh, Secretary-General of the Ministry of Investment, outlined Jordan's investment incentives under the Investment Environment Regulation Law. Several agreements were also signed, including a cooperation agreement between the Jordan Enterprise Development Corporation (JEDCO) and the Saudi Export Development Authority.
The forum included presentations from the Saudi Export Development Authority, the Ministry of Investment, and the Saudi Authority for Saudi Cities, along with bilateral meetings between Jordanian and Saudi companies.