Saudi-Jordanian Business Council Emphasises Importance Of Economic Cooperation And Trade Opportunities

The Saudi-Jordanian Business Council is keen on advancing economic ties between Saudi Arabia and Jordan. During a recent meeting in Amman, the council highlighted the need for enhanced cooperation to tap into existing trade and investment opportunities. This gathering was led by Dr. Hamdan Al-Samreen from the Saudi Al-Jouf Chamber of Commerce and Khalil Al-Haj Tawfiq from the Jordan Chamber of Commerce.

Members of the council emphasised strengthening trade relations, building on past achievements. They explored various issues affecting economic relations between the two nations, aiming to foster growth. Challenges in trade were identified, with solutions proposed to address them effectively.

The council suggested several measures to improve trade exchanges. These included speeding up customs processes and simplifying trade transactions. Enhancing cooperation in logistics infrastructure, renewable energy, and food security was also discussed as a priority.

A joint platform under the Saudi-Jordanian Business Council was proposed as a strategic move to boost economic collaboration. This platform aims to strengthen trade ties, facilitate joint investments, and connect business leaders to explore new market opportunities across various sectors.

The council recommended that this platform should organise trade events and exhibitions. These events would bring together companies and business leaders from both countries to exchange expertise and showcase trade opportunities. Additionally, training programs and workshops could support human capital development in technology, innovation, industry, and services.

Support for joint projects benefiting both countries was also proposed. This includes traditional sectors like industry and emerging ones such as renewable energy and information technology. Cooperation in policy formulation to encourage investment and trade was highlighted as crucial.

Addressing Sector-Specific Challenges

The council plans to conduct an online survey to gather data on challenges faced by each sector. The results will be analysed and submitted to relevant authorities for resolution. Subcommittees will be reactivated, each focusing on specific economic sectors like services, logistics, food and agriculture, education, and information technology.

Facilitating customs procedures and supporting small and medium enterprises were also discussed. Providing financing, guidance, and marketing opportunities for these enterprises is seen as essential for their growth.

The meeting underscored the importance of cooperation in formulating policies that encourage investment. By addressing these areas strategically, both nations aim to enhance their economic partnership significantly.

With inputs from SPA