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FINANCIAL NEWS
Jordan, Saudi Arabia to enhance cooperation
05 Oct 2010
(MENAFN) In an attempt to reach a free trade agreement (FTA) with the Gulf Cooperation Council (GCC), the Hashemite Kingdom of Jordan has asked its Saudi neighbour to support its drive, Arab News reported.
On a two-day meeting in Amman of the Joint Saudi-Jordanian Commission, the Jordanian Minister of Trade and Industry, Amer Al Hadidi and the Saudi Transport Minister Jabara Al- Seraisry agreed to increase bilateral cooperation in the trade, economic and investment fields and pledged coordination on world, regional and Arab forums in such a manner that accomplished their common interest.
Both Kingdoms agreed to postpone the conclusion of an agreement for encouragement and protection of investments until settling the pan-Arab investment.
The two countries expressed satisfaction over the volume of trade in crude and oil derivatives and welcomed joint efforts to sign a technical cooperation agreement in the sphere of renewable energy and conservation of energy between the two countries.
‘Amman and Riyadh agreed to create a joint Saudi Jordanian firm for agricultural transport with a capital of $66.6 million.
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