Khaberni - The boards of directors of the Amman and Riyadh Chambers of Commerce held an expanded meeting today, Tuesday, at the Riyadh Chamber headquarters in the Kingdom of Saudi Arabia, during which they discussed prospects for joint economic cooperation.
According to a statement by the Amman Chamber of Commerce today, the meeting discussed drawing a new map for the future relationship between the business sectors in Amman and Riyadh, especially in light of the presence of ambitious economic visions in both countries, in addition to agreeing on forming joint sectoral committees in a number of vital sectors.
The meeting also discussed enhancing cooperation in training and capacity building, logistical cooperation, exchange of economic and trade information, investment opportunities, building partnerships, and exploring cooperation and integration in the reconstruction process in Syria.
After the meeting, the two chambers signed an agreement for bilateral cooperation, aiming to enhance the economic, trade, and investment relations between the two brotherly countries. The memorandum was signed by Khalil Mohammad Al-Haj Tawfiq, the Chairman of the Amman Chamber of Commerce, and Engineer Abdullah bin Abdulrahman Al-Obeikan, the Chairman of the Riyadh Chamber board of directors, in the presence of the Jordanian Ambassador in Riyadh, Dr. Haitham Abu Al-Foul.
Al-Haj Tawfiq affirmed that this meeting constitutes an economic turning point between Amman and Riyadh, and that signing the agreement represents a transition from a stage of goodwill to a phase of organized joint action, from public relations to productive and investment partnerships, emphasizing the commitment of the Amman Chamber of Commerce to transform it into a daily action document translated into time-bound programs, joint working teams, periodic meetings, and clear performance indicators.
He explained that the next phase should witness joint projects and knowledge transfer, supply chain development, digital economy, logistics services, advanced industries, medical and educational tourism, appreciating the pivotal role of the Riyadh Chamber of Commerce as a trusted strategic partner in supporting Arab economic cooperation based on mutual interests and sustainable development.
Al-Haj Tawfiq also appreciated the role of the Jordanian embassy in Riyadh in documenting relations between the Jordanian and Saudi private sectors.
During the meeting, Al-Haj Tawfiq extended an official invitation to the president and members of the board of directors of the Riyadh Chamber of Commerce to visit the Hashemite Kingdom of Jordan after the holy month of Ramadan, to follow up on the implementation of agreements, plans, and programs, and to observe the investment opportunities in Jordan and visit industrial cities, free and development zones, and logistic areas.
For his part, Al-Obeikan welcomed the delegation from the Amman Chamber of Commerce, affirming the depth of the brotherly and historical relations between the two countries, and the importance of economic partnerships in supporting sustainable development and expanding trade and investment exchange, and boosting institutional cooperation and expertise exchange, contributing to business growth and enhancing the competitiveness of the Saudi and Jordanian economies.
Al-Obeikan emphasized the importance of transitioning from general cooperation to working on specific and clear projects, based on the strengths of the economies of the two countries, particularly in advanced industry sectors, logistics services, digital economy, tourism, and food security.
He noted that the Riyadh Chamber pays special attention to forming specialized sectoral committees and coordination committees and following up on investors' observations and needs in both countries, and the necessity of appointing liaison officers for follow-up, asserting that the chamber places its capabilities, expertise, and extensive relations with the Saudi business community at the disposal of the Amman Chamber of Commerce, to achieve practical and sustainable results that benefit the private sector in both countries, noting that the membership of the Riyadh Chamber is about 600,000.
In turn, the Jordanian ambassador in Riyadh, Dr. Haitham Abu Al-Foul, affirmed that the signing of the memorandum represents an important step to enhance economic and trade cooperation between the two countries and build upon the achievements in bilateral relations, explaining that it represents a practical framework to expand the partnership between the Jordanian and Saudi private sectors, especially in light of Saudi Vision 2030 and Jordan's economic modernization programs, opening wide areas for integration and networking between the two economic visions in the countries.
Members of the boards of directors of the two chambers affirmed the importance of enhancing cooperation in supply chain and agricultural relations, transportation, logistics services, information technology, training, and entrepreneurship.
The Industry and Supply Chain Committee in the Riyadh Chamber pointed to real opportunities for industrial integration between the two sides, especially in the field of raw materials and production requirements, opening wide prospects for establishing quality industrial partnerships, reducing production costs, increasing added value, and enhancing the competitiveness of Jordanian and Saudi products in the regional and international markets.
The meeting and signing of the agreement were attended by the Vice Presidents of the Amman Chamber of Commerce, Nabil Al-Khatib and Bahjat Hamdan, the Secretary of the Board of Directors, Mohammed Tahboub, and board member Falah Al-Sagheer, along with several members of the board of directors of the Riyadh Chamber.
It should be noted that the total Jordanian exports to the Kingdom of Saudi Arabia during the years 2019–2024 amounted to about 4.8 billion Jordanian dinars, while imports from the Kingdom during the same period amounted to about 14.5 billion Jordanian dinars, which reflects the depth of the trade partnership and the volume of opportunities available to the private sector in both countries.
On an annual performance level, Jordanian exports to Saudi Arabia during the year 2024 amounted to 1.125 billion Jordanian dinars, compared to 983.7 million dinars in 2023, achieving a growth of 14.4%, which is a positive indicator of the development of the competitiveness of the Jordanian product in the Saudi market. In contrast, Jordanian imports from the Kingdom of Saudi Arabia during 2024 amounted to about 2.912 billion Jordanian dinars, compared to 2.578 billion dinars in 2023, an increase of 12.9%.
