Jordan, Saudi sign agreements to boost trade cooperation

Amman, March 30 (IANS) Jordan and Saudi Arabia signed cooperation agreements in the fields of trade, financial markets and transportation, said Jordanian Ministry of Industry and Trade Spokesperson Yanal Barmawi.

The deals, in addition to two agreements in media and youth cooperation, were signed during the meetings of the Jordanian-Saudi Joint Committee held in Amman, Barmawi told Xinhua news agency.

Saudi Arabia's Minister of Transport and Logistics Saleh bin Nasser bin Al Al-Jasser said the meetings covered the economic, commercial, industrial, investment and educational fields, expressing hopes for the agreements to serve common interests, Xinhua news agency reported.

According to the ministry's statistics, trade volume between the two countries reached $4.2 billion in 2021, with the value of Jordanian exports to Saudi Arabia amounting to about $1 billion.

The spokesperson noted that Saudi investments are considered one of the biggest chunks of foreign investments in Jordan, with a value exceeding $12 billion in transportation, infrastructure, energy, finance and commerce, as well as tourism facilities.