Latest news with #Jordanian-SaudiBusinessForum
Jordan News
23-02-2025
- Business
- Jordan News
Jordan-Saudi Trade Exchange Reaches 15 Billion JDs Over 5 Years - Jordan News
Trade exchanges between Jordan and Saudi Arabia during the past five years (2019-2023) reached 15.3 billion Jordanian Dinars (JDs). According to statistical data from the Amman Chamber of Commerce obtained by the Jordan News Agency (Petra), Jordan's exports to Saudi Arabia during this period amounted to 3.68 billion JDs, while imports stood at 11.6 billion JDs. اضافة اعلان The statistical data, based on official figures, shows that Jordan's exports to Saudi Arabia during the first 11 months of 2024 rose to 1.03 billion JDs, compared to 910 million JDs for the same period in 2023. On the other hand, the imports from Saudi Arabia during the same 11 months of 2024 reached 2.7 billion JDs, compared to 2.3 billion JDs during the same period of 2023. The statistics indicate that the main imports of Jordan from Saudi Arabia were focused on metal products, including petroleum oils, chemical products or related industries, and food industry products, including sugar and sugary products. Meanwhile, the kingdom's exports to Saudi Arabia were focused on chemical products or related industries, including medications, live animals, such as live sheep, fresh or processed fruits and vegetables, and ordinary metals and their products, including iron products. According to the International Trade Centre's export potential map, 43% of export opportunities from Jordan to Saudi Arabia remain untapped. Live sheep tops the list with an export gap of $206 million. Additionally, bromides and bromine oxides from the chemical industry have an export gap of $39 million, while antibiotic-containing medicines have an export gap of approximately $8 million, reflecting the potential to boost pharmaceutical exports to Saudi Arabia. Additionally, the Jordan Chamber of Commerce will host the Jordanian-Saudi Business Forum on Monday in Amman, organized in collaboration with the Saudi Chambers Federation and the Saudi Export Development Authority. The forum, which aims to open broader horizons for economic relations between the two countries and take them to a new level of partnership, will include business owners, investors, and companies from both Saudi Arabia and Jordan across various service and trade sectors. It will feature several activities and bilateral meetings. The forum will also include representatives from the investment ministries of both countries, the Saudi General Authority for Foreign Trade, the Saudi Chambers Federation, the Saudi Authority for Industrial Cities, the Saudi Export Development Authority, and the Jordanian Economic Development Projects Corporation (JEDCO). On the same day, the Saudi-Jordanian Business Council will meet to push forward the commercial and investment relations between the two countries and build upon the achievements made in previous years. It's worth noting that the Jordan Chamber of Commerce President Khalil Al-Haj Tawfiq will head the Jordanian side of the council, while the Saudi Chamber of Commerce President of Al-Jouf Dr. Hamdan Al-Sumairin will head the Saudi side.
Jordan Times
19-02-2025
- Business
- Jordan Times
JCC to host Jordan-Saudi business forum on Monday
By JT - Feb 19,2025 - Last updated at Feb 19,2025 The event will bring together business owners, investors, and companies from Jordan and Saudi Arabia, representing a diverse range of service and trade sectors (Petra photo) AMMAN — The Jordan Chamber of Commerce (JCC) will host the Jordanian-Saudi Business Forum next Monday in Amman, in cooperation with the Federation of Saudi Chambers and the Saudi Export Development Authority. The forum aims to boost and elevate the economic relationship between the two countries, fostering deeper levels of partnership, the Jordan News Agency, Petra, reported. The event will bring together business owners, investors, and companies from Jordan and Saudi Arabia, representing a diverse range of service and trade sectors. Representatives from both countries' investment ministries, the General Authority for Foreign Trade in Saudi Arabia, the Federation of Saudi Chambers, the Saudi Exim Bank, the Saudi Export Development Authority and the Jordan Enterprise Development Corporation (JEDCO) will also participate. President of the JCC Khalil Hajj Tawfiq said that the forum will chart a "new roadmap" for economic cooperation, building on existing foundations. He also stressed that the initiative aims to enhance trade and investment partnerships between the two countries. Hajj Tawfiq also said that Jordan is seeking a fundamental shift in its trade relations with Saudi Arabia—one based on economic integration and mutual development, rather than just competition and transactional exchanges. He also underscored Saudi Arabia's pivotal role as a key trading partner for Jordan, citing the significant Saudi investments in high-value-added sectors. He also noted the long-standing and distinguished political, economic, trade and investment ties that bind the two countries. The Saudi-Jordanian Business Council will also convene to continue supporting trade and investment relations, building upon the achievements of previous partnerships.
