Amman: The Jordanian-Saudi Joint Business Council urged the establishment of a collaborative economic action plan on Sunday. The focus is on concrete projects, investment opportunities, and enhancing supply-chain resilience in response to growing regional and global economic challenges.
According to Jordan News Agency, during the third joint meeting of the Saudi-Jordanian Business Council in Amman, Senator Khalil Haj Tawfiq, Chair of the Jordan Chamber of Commerce and head of the Jordanian side of the council, emphasized that the proposed plan should outline clear objectives, responsibilities, implementation timelines, and measurable indicators. He advocated for moving beyond merely increasing bilateral trade, suggesting deeper economic integration by combining Jordanian expertise and human capital with Saudi Arabia's investment potential and Vision 2030 initiatives.
Haj Tawfiq proposed that Jordanian and Saudi companies form alliances to execute projects in Iraq, Syria, and other regional markets. He suggested the development of joint supply chains in strategic sectors such as food, medicine, and logistics. Additionally, he recommended establishing a joint system to bolster supply-chain security and resilience, involving information-sharing on shipping and container movements, early warning mechanisms, alternative trade routes, and rapid coordination among ports, customs authorities, transport and shipping companies, and importers in both countries.
Abdulrahman Thubaiti, head of the Saudi side of the council, noted the significant development of economic relations between Saudi Arabia and Jordan. He highlighted mutual investments and the emergence of new companies, particularly in the pharmaceutical sector, as indicators of growing private-sector confidence in both markets. Thubaiti called for the council's sectoral committees to focus on implementing recommendations into actionable projects, addressing operational challenges, and enhancing coordination between investors and government entities.
Thubaiti announced plans for organizing a Saudi-Jordanian Investment Forum and exhibition in Saudi Arabia next year, in conjunction with the fourth council meeting. The event aims to showcase investment opportunities and foster partnerships in priority sectors. He also underscored opportunities for collaboration in regional reconstruction and development projects, particularly in contracting, logistics, health, food, technology, and finance.
The Saudi official praised the Jordanian government's measures to maintain business continuity, supply chains, and trade amidst regional challenges. He emphasized the importance of stronger public-private sector cooperation to enhance economic resilience.