Market Update: Saudi-Jordanian Business Forum approves roadmap for cooperation in promising sectors – Full Analysis

RIYADH: The Federation of Saudi Chambers and the Jordan Chamber of Commerce organized on Jan. 21 the Saudi-Jordanian Business Forum at the FSC’s headquarters in Riyadh, with participation from around 200 companies and investors.

The event aimed to showcase available investment opportunities, highlight projects, and introduce the business environment and investment incentives in both countries.

Emad Sadad Al-Fakhri, vice president of the FSC, said economic cooperation between Saudi Arabia and Jordan is witnessing significant growth, supported by high-level official visits and delegation exchanges, adding that this cooperation has helped expand partnerships across various sectors.

Al-Fakhri noted that Saudi Arabia is Jordan’s leading Arab trading partner and its third-largest global partner, with trade exceeding $5 billion and mutual investments surpassing $24 billion as of 2024.

He highlighted the pivotal role of Saudi Arabia’s Vision 2030 in empowering the private sector, promoting trade and investment, and providing an attractive business environment.

Abdulrahman Al-Thubaity, chairman of the Saudi-Jordanian Business Council, described the economic partnership between the two countries as strong, rooted in fraternal ties and a shared vision for long-term integration.

Al-Thubaity emphasized the need to move from traditional opportunities toward deeper, more sustainable integration, with active participation from both the public and private sectors.

He added that the council works through specialized committees to develop practical initiatives, focusing on logistics connectivity and port integration, knowledge-based development in the phosphate sector, and regional reconstruction programs. He further described the forum as a platform to translate strategic visions into actionable partnerships.

Chairman of the JCC, Khalil El-Haj Tawfiq, said Vision 2030 is a source of pride for its transformative economic achievements, expressing the Jordanian private sector’s eagerness to turn fraternal relations into tangible programs and projects.

He noted that Saudi exports to Jordan are roughly five times higher than Jordanian exports, highlighting promising opportunities for industrial integration.

He also said the participation of Jordan’s largest economic delegation reflects the Jordanian leadership’s guidance to strengthen joint work and build effective strategic partnerships.

Haitham Abu Al-Foul, Jordan’s ambassador to Saudi Arabia, said the Saudi-Jordanian Business Forum provides an important institutional framework to enhance economic, trade, and investment cooperation, emphasizing the deep fraternal relations between the two countries, supported by their leadership.

Al-Foul added that Vision 2030 has opened broad investment horizons in strategic sectors, while Jordan offers an attractive investment environment supported by trade agreements, a strategic location, and skilled human capital.

He also called for moving toward the practical implementation of joint projects with a clear roadmap.

The forum featured meetings of the Saudi-Jordanian Joint Business Council and the signing of five agreements spanning multiple sectors. It also hosted bilateral discussions between Saudi and Jordanian company representatives to foster commercial and investment partnerships.

Specialized meetings were held for the sectoral committees of the Joint Business Council to develop a roadmap for cooperation across a wide range of promising sectors. Discussions covered agriculture and food security, industry, and mining, as well as energy, among additional sectors. 

The meetings also addressed reconstruction and infrastructure, tourism and hospitality, investment and trade, as well as franchising.

The participating Jordanian economic delegation is the largest of its kind, comprising representatives from commercial, service, industrial, and agricultural sectors, including heads of chambers from across Jordan’s governorates, economic sector representatives, union leaders, and prominent Jordanian businesspeople and investors.