Ajlan Al-Ajlan: Developing Trade Exchange and Developing Joint Investments with Jordan

  • Amman, Hashemite Kingdom of Jordan
  • 22 June 2022

The activities of the Saudi-Jordanian Business Council Forum were held in Amman, coinciding with the visit of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz to Jordan.

During the forum, the Jordanian Minister of Industry and Trade, Yousef Al-Shamali, reviewed the value of his country's exports to Saudi Arabia, which constitute 12 percent of its total exports to the countries of the world. The imports from Saudi Arabia account for 15 percent of the total imports, stressing that Saudi investments occupies an advanced position in Jordan, with their value exceeding $12 billion, in the sectors of transport, infrastructure, energy, financial and commercial sectors, and tourism construction. Al-Shamali explained that Saudi investments have a high added value in the Jordanian economy, in terms of GDP growth, creating job opportunities for Jordanians, and developing sectors. He added: "As much as the distinguished trade volume between the two countries is a source of pride for us, we see it as an indication of more trade exchange opportunities that can be explored and invested through our initiative as the public and private sectors in the two countries."

For his part, President of the Federation of Saudi Chambers, Ajlan Al-Ajlan, stated that the establishment of the council aims to expand horizons of cooperation in all fields and exploit investment opportunities available to the business sectors in the two countries. Noting the development in economic relations, the volume of trade exchange during 2021 grew by 44% to reach 16.6 billion riyals, stressing that there are huge opportunities in the two markets in the two countries that must be exploited and developed, especially in the aspect of inter-investment. He indicated that the timing of the forum after the Corona pandemic and its impact on the global economy make it an important platform for developing trade exchange and developing joint investments, and elevating the relationship to the level of economic partnership, in a manner that serves the two peoples and supports the wheel of economic development in the two countries, pointing out that it will shed light on the great investment opportunities brought forth by the "Saudi Vision 2030" programs. He called on the Jordanian business sector to benefit from it, and to strengthen its presence in the Saudi market, with its qualitative capabilities, financial capabilities and an attractive investment climate, and the incentives it provides to foreign investors.

Source (Al-Sharq Al-Awsat Newspaper, Edited)