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Saudi-Jordanian Joint Business Council examines investment opportunities

By JT - Mar 28,2017 - Last updated at Mar 28,2017

AMMAN — The Saudi-Jordanian Joint Business Council on Monday recommended to look into investment opportunities available in both countries and to assess the prevailing investment climate, the Jordan News Agency, Petra, reported.

The council also recommended exploring ways to develop trade ties between the two countries and overcoming difficulties, in addition to organising an annual Jordanian-Saudi investment forum that includes an exhibition.

During a meeting headed by President of the Jordan Chamber of Commerce Nael Kabariti and Chairperson of the Council of Saudi Chambers Hamdan Al Samreen, the business council called for arranging visits of business delegations, and looked into the possibility of partnerships in alternative and renewable energy projects.

Discussions at the meeting, which was attended by businessmen from both countries, also covered facilitating special visa fees for business owners and giving priority to companies and institutions in both countries to implement government and development projects, and providing job opportunities for Jordanians in Saudi Arabia.

The council suggested not to transfer potassium nitrate, a hazardous chemical substance, through the Durra Border Crossing between Aqaba and Haql in Saudi Arabia, although it has been exported before, in addition to imposing 5 per cent customs fees on potassium nitrate's products despite it being exempted from the tariff according to the Inter-Arab Trade Agreement.

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