Jordan, Saudi Arabia launch fund to boost trade, investment

Published March 27th, 2017 - 11:03 GMT
Jordanian investments in Saudi Arabia amount to $2 billion. (AFP/File)
Jordanian investments in Saudi Arabia amount to $2 billion. (AFP/File)

Amman will witness on Monday the establishment of a Saudi-Jordanian fund to support the business sector in both countries in addition to the signing of several agreements that cover transferring experiences and industries to the kingdom’s market.

The events will take place on the sidelines of Saudi-Jordanian Business Council meetings and the launch of an economic forum on Tuesday in coincidence with the visit of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud to reinforce cooperation between Jordan and Saudi Arabia.

Mohammed al-Odah, a member of Saudi-Jordanian Business Council, said during a phone call that the visit of King Salman to Jordan is an indicator of the stability of Arab economic cooperation and will ensure a political will to enhance cooperation between the two countries in the fields of trade and mutual investments.

Odah pointed out that mutual investment size is USD13 billion, USD11 billion out of them are Saudi investments in Jordan and 2USD billion are Jordanian investments in Saudi Arabia. He expected reaching imperative outcome in the economic activities relating to reforming legislations of trade and investment.

Monday and Tuesday will witness Saudi-Jordanian economic activities represented in the convening of the Saudi-Jordanian Business Council and holding the Saudi-Jordanian Economic Forum with a wide participation of Jordanian and Saudi businessmen to discuss dimensions of investment and trade cooperation.

The Saudi delegation program also includes several meetings with Jordanian officials and remarkable figures in the business sector for the purpose of boosting economic relations and developing investment and trade partnership.

Saudi Arabian General Investment Authority (SAGIA) will show a presentation on Saudi Vision 2030 and so will the Saudi Export Development Authority.

By Fatah Al-Rahman Youssef

 


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