Saudi Arabia, Jordan strengthen trade ties through land transport agreement

Saudi Arabia, Jordan strengthen trade ties through land transport agreement
Saudi Arabia, Jordan strengthen trade ties through land transport agreement

Thank you for reading the news about Saudi Arabia, Jordan strengthen trade ties through land transport agreement and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Trade and economic collaboration are set to improve between Saudi Arabia and Jordan as the two nations have reached an agreement to enhance land transport connectivity. 

The Saudi-Jordanian Joint Technical Committee for Land Transport concluded its two-day meetings in Jeddah, emphasizing its commitment to streamlining procedures and facilitating the movement of passengers and goods for the mutual benefit of both countries, the state-run news agency reported.  

During the discussions, the two parties addressed challenges encountered by carriers and licensed establishments in the land transportation sector, the Saudi Press Agency reported.    

Consequently, they agreed to implement various measures aimed at improving the efficiency of road connectivity in both nations.   

The meeting was attended by Abdulmajeed Al-Tasan, vice chairman for the land transport sector at the Saudi Transport General Authority, and Abdul Rahim Al-Wreikat, director general of Jordan’s Land Transport Regulatory Authority.  

In August, the committee convened its 18th session in the Saudi capital with the participation of government officials from both sides. 

Saif bin Saad Al-Faqar, assistant undersecretary for sector development at Saudi Arabia’s Ministry of Transport and Logistics Services, noted that the meeting was convened under the directives of the Kingdom’s leadership and aligned with the bilateral economic agreement signed between the two countries in 1962.  

Al-Faqar emphasized the shared ambitions of the countries to expand cooperation in various fields, highlighting the importance of implementing recommendations from previous committee sessions. 

Dana Al-Zoubi, secretary-general of the Jordanian Ministry of Industry, Trade, and Supply, affirmed the strong relationship between the countries in various fields. She added that the session built on the efforts of meetings held in Amman last year to enhance trade and economic exchange. 

Bilateral economic relations between Riyadh and Amman have been rapidly growing, with Jordan aiming to boost cross-border investments in the Kingdom. According to the SPA, trade between the two countries reached approximately $4.4 billion in 2021, up from around $3.1 billion in 2020. 

In June, the Jordanian Investment Council announced plans to roll out new projects in Saudi Arabia and other Gulf countries valued at $2.5 billion between 2023 and 2026. 

Additionally, in March, a bilateral agreement worth more than $1 billion was signed by the Makkah Chamber of Commerce and Industry and its Amman counterpart, focusing on developing economic relations between the two cities.  

These were the details of the news Saudi Arabia, Jordan strengthen trade ties through land transport agreement for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Startup Wrap – Health, HR, and e-commerce firms eying Saudi expansion after funding rounds
NEXT Saudi banks witness 11% surge in loans to $726bn, fueled by corporate activities 

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]