Minister of Industry, Trade and Supply Youssef Al-Shamali called for exploring new opportunities for cooperation and investment between Jordan and theKingdom of Saudi Arabia.
Speaking to Saudi Jordanian Business Forum, which opened on Tuesday, Al-Shamali lauded the historical political, economic and social ties between the two countries, which offer more opportunities.
The forum will discuss economic cooperation, within the framework of the Jordanian-Saudi Joint Business Council, Al-Shamali said.
He indicated that the value of Jordanian exports to the Kingdom of Saudi Arabia constitutes 12 per cent of the total Jordanian exports to the countries of the world, while Jordanian imports from Saudi Arabia constitute 15 per cent of the total Jordanian imports, as the value of trade exchange between the two countries in 2021 amounted to approximately $4 billion.
He stressed that Saudi investments in Jordan are in a leading position, with more than $12 billion, in transportation, infrastructure, energy, financial, commercial and tourism construction, pointing out that they have a high added value in the Jordanian economy, in terms of GDP growth, job creation for Jordanians, and sector development.
He said that trade volume between the two countries constitute indication of more opportunities for trade exchange that can be explored and invested through public and private sectors in the two countries to lay modern and effective foundations and frameworks that ensure the development of trade exchange and enhance it as well as facilitating the flow of goods and services between the two countries without any restrictions or difficulties.
National exports to the Saudi Arabia recorded the highest growth in five years at 27.3 per cent in 2020-2021, with a value of about $1.03 billion, while imports amounted to about $3.21 billion last year, with a growth rate of 50 per cent compared to 2020.
Jordan exports vegetables, fruits, grains, live lamb, foodstuffs, industrial chemicals, medicines, fertilizers, building stones, paints, plastic and paper materials, fabrics, shoes, furniture and cooking ovens to Saudi Arabia.
On the other hand, Jordan imports crude oil, dates, cane sugar, food cooking appliances, liquid milk, cream, sulfur, lubricating oils, titanium oxide, and polyethylene from Saudi Arabia.
Jordan also imports polypropylene, polystyrene, air-conditioning machines, iron and its products, copper and iron electrical wires, chemicals, plastics, agricultural pesticides packaging, and soft drinks from Saudi Arabia.
Source: Jordan News Agency