JBA, Saudi Chambers Federation Ink Agreement To Boost Cooperation

Amman: The Jordanian Businessmen Association and the Federation of Saudi Chambers signed a framework memorandum of understanding at the Saudi Embassy in Amman on Wednesday to strengthen cooperation between the two sides, enhancing economic ties between Jordanian and Saudi business communities. The memorandum aims to facilitate events, conferences, and forums to boost economic relations, strengthen communication, and provide necessary facilities. It encourages joint studies, research, and the exchange of experiences to develop economic sectors and establish strategic partnerships at local, Arab, and regional levels. It also seeks to organize bilateral meetings, prepare joint studies, research, statistics, and reports in various economic fields to further enhance cooperation between the two sides. The memorandum was signed by the Association's President, Hamdi Tabbaa, and the Federation's Chairman of the Jordanian-Saudi Business Council, Hamdan Samreen, in the presence of Saudi Ambassador to the Kingdom, Nay ef bin Bandar Sudairi. Tabbaa outlined the association's role in strengthening Jordan's economic ties with Saudi Arabia, promoting its advantages and investment opportunities. He highlighted the historical and strategic relations between the two countries, noting the importance of exploring investment opportunities, especially in sectors of common interest. He noted Jordan's attractive investment environment with free trade agreements and development zones. Saudi investments in Jordan reached approximately $14 billion, showcasing strong economic ties and notable investments between the two nations. Sudairi emphasized that Saudi-Jordanian economic relations are based on solid institutional frameworks represented in economic cooperation agreements, the joint Saudi-Jordanian Coordination Council, and the Saudi-Jordanian Business Council. These are vital tools for developing cooperation opportunities, reflecting the private sector's essential role in building joint trade and investment partnerships. Samreen emphasized that the memorandum will foster cooperation and exchange of experiences in economic and investment fields, exploiting diverse opportunities to enhance Jordanian-Saudi relations. He highlighted the strength of bilateral relations, foreseeing promising opportunities in the future, particularly with major projects in Saudi Arabia. Source: Jordan News Agency