Amman, Sept. 3 (Petra) – Minister of Industry, Trade, and Supply Yarub Qudah on Wednesday inaugurated the Jordan–Saudi Business Forum, organized by the Jordan Chamber of Commerce in cooperation with the Federation of Saudi Chambers.
Addressing the forum, Qudah called for building “genuine industrial and economic integration between the two countries as a model for wider Arab cooperation.”
Qudah emphasized the need to move beyond traditional competition toward “true” partnerships that generate mutual benefits, create jobs, and reflect the strong bilateral political and social ties.
Qudah also underlined that Jordan–Saudi relations are “deep-rooted and historic,” guided by the two kingdoms’ leadership.
The minister noted Jordan’s trade with Saudi Arabia is nearly equal in volume to its trade with the United States, highlighting “significant” potential for expansion.
Referring to Jordan’s free trade agreements with the EU, U.S., and Canada, he said joint efforts by Jordanian and Saudi businesses could optimize their benefits.
Qudah also stressed the importance of targeting new regional and global markets, citing reconstruction in Syria as a prime opportunity for direct cooperation.
Qudah highlighted Jordan’s “strategic” location and its role as a gateway for Saudi investments, urging “stronger” collaboration in sectors such as industry, energy, health, education, tourism, oil derivatives, and logistics.
The minister stated strengthening economic integration is a “strategic” step to advancing Arab trade and industrial cooperation.
In turn, Minister of Investment Tareq Abu Ghazaleh said Jordan and Saudi Arabia share aligned economic visions, stressing opportunities in energy, chemicals, food industries, IT, cybersecurity, pharmaceuticals, healthcare, and logistics.
Abu Ghazaleh noted Saudi Arabia is diversifying away from oil, while Jordan seeks to deepen investment ties, creating mutual benefits.
Abu Ghazaleh described the forum as a “vital” platform for addressing investor challenges, underlining the role of joint sector committees in boosting cooperation, including in new areas, mainly e-commerce and green economy.
Jordan Chamber of Commerce President Khalil Haj Tawfiq said the forum embodies the two countries’ leaders’ vision to expand strategic partnerships, adding that Saudi investments in Jordan exceeding $15 billion.
He stressed the private sector’s ambition to increase investments in line with Jordan’s Economic Modernization Vision, particularly in tourism, technology, logistics, and renewable energy.
Federation of Saudi Chambers President Hassan Alhwaizy praised the forum as a “driver” of regional economic initiatives and investment opportunities, stressing commitment of Jordanian and Saudi private sectors to expand cooperation.
Alhwaizy highlighted opportunities in major projects, Syria’s reconstruction, and investment in Palestine, describing the forum as a platform for forging durable partnerships that promote regional stability and growth.
During the event, speakers including Jordan Industrial Estates Company Chairman Loay Sehwail, Jordan Free and Development Zones Group Director-General Abdulhamid Gharaybeh, and King Hussein Business Park CEO Ammar Izzidin presented opportunities in industrial, free zone, and innovation sectors.
From the Saudi side, Ministry of Investment officials Mohammed Babtain and Mishal Otaibi outlined investment prospects under Vision 2030 and the institutional support available for foreign investors.
On trade figures that reflect growing ties, Jordanian exports to Saudi Arabia reached JD 612 million in the first half of 2024, up from JD 513 million a year earlier, while imports from Saudi Arabia rose to JD 1.4 billion from JD 1.3 billion, according to official data.
The forum also hosted business-to-business meetings to strengthen institutional ties among commerce chambers to enhance the two markets’ competitiveness.
//Petra// AG AO
03/09/2025 15:28:43
