While receiving a Saudi delegation from the Omani industry, Al-Jaghbir called for strengthening joint investments between the two countries

2023-09-26 15:10:44

Main economic affairs

September 26, 2023

Watan Today: The head of the Jordan and Amman Chambers of Industry, Engineer Fathi Al-Jaghbir, stressed the importance of strengthening economic relations between Jordan and Saudi Arabia, despite the fact that trade exchange between the two countries reached $5.3 billion last year, with a growth of 24% over the year 2021, as Jordanian exports to the Kingdom amounted to about (1.18) billion dollars, a growth of 15%, compared to Saudi exports to Jordan that amounted to (4.1) billion dollars during the same year, a growth of 27%. Saudi investments in the Kingdom are also among the highest and their value is estimated at twelve billion dollars, but these numbers are subject to increase. In light of the distinguished relationship that brings the two countries together in various fields.
Al-Jaghbir added, while receiving a Saudi delegation that included the Chairman of the Jordanian-Saudi Business Council, Dr. Hamdan Al-Samrin, and members of the Saudi Chambers of Industry and Commerce, on Tuesday, in the building of the Amman Chamber of Industry, in the presence of a number of members of the Board of Directors of the Amman and Jordanian Chambers of Industry, and the Director General of the Amman Chamber of Industry, that the relationship The economic exchange between the Arab countries must be on a win-win basis, so that trade exchange is not in favor of one country at the expense of the other, indicating that trade exchange between the two countries is concentrated in specific commodities, which is not commensurate with the productive diversity of the industrial sector in the two countries, and Jordan also imports Many of the raw materials needed for its industries are from Saudi Arabia, especially in the plastics industries sector. Opportunities for industrial integration exist and can be built upon.
Al-Jaghbir explained that the visit of the Saudi delegation comes at the invitation of the Amman Chamber of Industry to visit the JOHOME exhibition for household supplies, which is organized by the chamber, and comes as a continuation of the previous successful visits of Jordanian industrial delegations to Saudi Arabia, during which bilateral business meetings were held with Saudi businessmen in Riyadh, Jeddah, Dammam, and Mecca. And Medina.
During the meeting, a number of issues and proposed projects were discussed that would deepen the frameworks of bilateral cooperation in the economic and investment fields, especially with regard to accelerating and facilitating customs procedures on the border between the two countries, as well as simplifying procedures for investors, to attract more Saudi investments to Jordan. It was proposed to establish A joint committee between the Jordan and Amman Chambers of Industry and the Jordanian-Saudi Business Council, with the aim of studying the establishment of a center for Jordanian products in Riyadh or Jeddah for direct sales and display of samples, through which Jordanian industrial products will be marketed and promoted in Saudi Arabia.