Shamali, Saudi ministers of commerce, transport draw roadmap to advance cooperation

AMMAN — Industry, Trade and Supply Minister Yousef Shamali, Saudi Minister of Commerce and Acting Minister of Media Majid Bin Abdullah Al Qasabi, and Saudi Minister of Transport and Logistics Saleh Bin Nasser Al Jasser on Wednesday met over enhancing economic cooperation and availing the available opportunities in both kingdoms.

The ministers, during a meeting held at the Ministry of Industry, Trade and Supply on the sidelines of the visit of Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al Saud to Jordan, agreed to draw a road map to advance economic cooperation and implement His Majesty King Abdullah and the Saudi Crown Prince's directives to expand cooperation in various fields.

The ministers emphasised that the Saudi Crown Prince's visit to Jordan and the discussions with His Majesty would provide a "major boost" for the Jordanian-Saudi economic cooperation and achieve integration in various fields.

They also agreed to set work priorities for the upcoming months, develop a matrix for implementation, follow-up and assessment, as well as determine an achievement percentage, as well as address challenges facing economic cooperation, notably those related to trade movement and goods flow.

Shamali said that increasing trade and expertise exchange, encouraging both sides to make further investments, and achieving integration in the fields of food security and various industry sectors, will be a focus of the next stage.

The trade exchange between the two kingdoms totalled $4.2 billion in 2021, as Jordanian exports to the gulf country reached some $1 billion, while Saudi exports to Jordan hit nearly $3.2 billion, he said.

Saudi Arabia is among the top foreign investors in Jordan, with investments estimated at $14 billion, including in the fields of transport, infrastructure and energy, as well as in the financial, commercial and tourism sectors, he said.

Qasabi noted that the Saudi Crown Prince’s directives drew attention to enhancing the strategic partnership with Amman in various fields, highlighting that the trade flow between both sides still shows modest returns.

Jasser said that the Crown Prince's visit to Jordan and his discussion with His Majesty will provide great momentum and support to cooperation between the countries, especially in the economic fields.

The acceleration of work during the upcoming period will be seen, he said, adding that the opportunities will be realised as projects on the ground to serve the interests of both sides.