Jaghbir calls for strengthening Jordanian-Saudi economic relations

Head of Jordan Chamber of Industry (JCI), Fathi Jaghbir, stressed the importance of strengthening Jordanian-Saudi economic relations and focusing on increasing the number of the two countries' trade exchanges. In a statement Sunday, Jaghbir said a Jordanian delegation, comprised of representatives of industrial companies operating in several sectors is currently visiting Saudi Arabia to discuss concluding trade partnerships and establishing integrated industries in Riyadh, Jeddah, and Mecca. Jaghbir, who also heads Amman Chamber of Industry (ACI), noted Saudi Arabia topped the countries of the Greater Arab Free Trade Area (GAFTA), in terms of Jordan's exports, which reached JD984 million last year, compared to JD840 million in 2022, marking an increase of 17.1%. Meanwhile, he stated that volume of Jordanian-Saudi trade exchange stood at JD3.575 billion last year, compared to JD3.772 billion in 2022. Jaghbir also praised cooperation and efforts of the Jordanian Embassy in Riyadh, represented by Ambassador Dr. Haitham Abu Foul, in arranging meetings of the Jordanian industrial delegation with Saudi commercial centers. Furthermore, he added that the visit comes after the success of the previous trip of a Jordanian industrial delegation to Saudi Arabia last year. During the 2023 trip, he noted the delegation held meetings with owners of Saudi major commercial markets, especially since mutual trade exchange is focused on specific goods and does "not match the productive diversity" of the two countries' industrial sector. In this regard, he indicated that Jordan imports multiple raw materials needed for its industries from Saudi Arabia, especially for the plastic industries sector, adding that opportunities for joint industrial integration "exist and can be increased." Source: Jordan News Agency