Speaking on the sidelines of the Saudi-Jordan Business Council meeting here, he said Jordan imports Saudi products worth $530 million.
“It represents 15.5 percent of Jordan’s total foreign trade,” he pointed out.
Highlighting Jordan’s investment climate, Al-Qudat said his country received foreign investment worth $2.38 billion last year compared to $1.98 billion in 2005. He estimated Saudi investment in Jordan at $1.87 billion.
Meanwhile, Muhammad Al-Audah, head of the Saudi business delegation, commended the outcome of the two-day meeting. “The council wanted to remove all obstacles facing investors and traders in both countries,” he pointed out.
He said joint Saudi-Jordanian investment in the Kingdom reached 253 last year with a total investment of $755 million with Saudis having a 70 percent stake. He said Jordanian investment in Saudi Arabia rose to $2 billion in 2008.
The meeting called for expanding economic, commercial and investment cooperation between the two Arab neighbors. It also proposed the establishment of a special service unit for companies and investors in both countries.
The meeting urged authorities to lift customs tariff and other restrictions that hamper bilateral trade. It called for staging exhibitions of both countries in order to promote their industrial and agricultural products.
“The meeting also decided to exchange expertise in the field of industrial cities and their management,” the final communiqué said. It also formed an executive committee with 12 members from both sides.
Earlier welcoming the Saudi delegation, Nael Al-Kabarity, chairman of Jordanian Chamber of Commerce, highlighted the strong relations between the two countries. “The identical views of our two countries on various regional and international issues have strengthened our relations,” he pointed out.
Al-Kabarity called upon Saudi businessmen to invest in Jordan’s productive and service sectors. The council discussed matters related to strengthening cooperation between the two sides.
