Saudi-Jordan trade to bolster as Crown Prince visits the Kingdom to deepen ties

Jordan's King Abdullah II (R) meeting with Saudi Crown Prince Mohammed bin Salman at al-Husseiniya Palace in the capital Amman on June 21. (Jordanian Royal Palace / AFP)
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RIYADH: º£½ÇÖ±²¥â€™s trade with Jordan grew 43 percent last year, with the volume of trade between the countries increasing to SR16.6 billion ($4.42 billion) in 2021.

This comes as Saudi Crown Prince Mohammed bin Salman is currently visiting Jordan — the first such visit in more than five years — as both countries are looking to strengthen their business ties.

This visit makes it all the more important for Jordan as its struggling economy is trying to overcome the knock-on effects of the Ukraine war and the COVID-19 pandemic.

The bilateral trade is dominated by º£½ÇÖ±²¥ as it exported SR11.6 billion worth of volume in 2021 against Jordanian imports of SR5 billion, Saudi Press Agency reported citing data from the Federation of Saudi Chambers of Commerce. 

º£½ÇÖ±²¥ has been among the major investors in Jordan as it pumped in $14 billion worth of investment spread over 900 projects. This is also reflected in Saudi investors’ appetite for the Amman Stock Exchange where they have invested $1.4 billion, making them first among the Arab and foreign investors, the SPA report stated.   

This is against Jordanian investments of $608 million in º£½ÇÖ±²¥.