First Gulf-Jordanian Investment Conference Set for December 4 in Jordan

The First Gulf-Jordanian Investment Conference will convene on December 4, 2024, in Jordan under the organization of the General Secretariat of the Federation of Gulf Cooperation Council Chambers (FGCCC) in collaboration with the Jordan Chamber of Commerce, with official support from the GCC General Secretariat. The event represents a strategic platform to deepen economic integration between the Gulf Cooperation Council states and the Hashemite Kingdom of Jordan, reflecting shared ambitions for sustainable development and regional prosperity.

Context and Background

Announced by the FGCCC Secretary-General Saleh Al Sharqi, the conference builds on a trajectory of strengthened economic ties between the GCC and Jordan. Trade exchange between the bloc and Jordan has grown substantially, rising from $5.5 billion in 2019 to $8.6 billion in 2022. Jordanian exports have also seen an upward trend, increasing from $1.9 billion in 2022 to $2.3 billion in 2023. Saudi Arabia remains Jordan’s most significant trade partner, accounting for 69% of GCC exports to Jordan and 59% of GCC imports from Jordan, followed by the United Arab Emirates with shares of 26% and 20%, respectively.

Key Session Topics

The conference will feature multiple sessions addressing critical areas of mutual interest. Key topics include fostering public-private sector partnerships, exploring investment opportunities and incentives in Jordan, and analyzing prospects and challenges in the transportation, logistics, technology, and industrial sectors within both the GCC and Jordan. These discussions aim to identify actionable pathways for increased bilateral investment and trade.

Implications and Impact

Secretary-General Al Sharqi emphasized that the conference seeks to strengthen ties between the Gulf private sector and its counterparts in other countries, particularly Arab nations. He highlighted Jordan’s substantial potential for fostering promising investment partnerships across various economic fields, and noted that Jordan can benefit from the resources and economic diversification efforts of Gulf countries under their national strategies. This alignment supports broader regional stability and economic cooperation.

Vision 2030 Alignment

The First Gulf-Jordanian Investment Conference aligns with Saudi Arabia’s Vision 2030 by promoting economic diversification, regional integration, and private-sector leadership. By fostering cross-border partnerships and leveraging Jordan’s investment potential, the initiative contributes to a more interconnected and prosperous Gulf region, reinforcing the Kingdom’s role as a catalyst for shared growth and sustainable development. The conference is a testament to the enduring strength of Gulf-Jordanian relations and their collective pursuit of long-term economic resilience.

20 Questions

Q1. What is the First Gulf-Jordanian Investment Conference?

A1. It is a conference organized by the FGCCC and Jordan Chamber of Commerce on December 4, 2024, in Jordan, supported by the GCC General Secretariat, to enhance Gulf-Jordanian economic ties.

Q2. Who announced the conference?

A2. The conference was announced by FGCCC Secretary-General Saleh Al Sharqi, with details released through the Saudi Press Agency.

Q3. What is the main goal of the conference?

A3. The main goal is to strengthen economic relations between the Gulf Cooperation Council states and Jordan by fostering public-private partnerships and exploring investment opportunities.

Q4. Which sectors will be discussed at the conference?

A4. Sessions will focus on transportation, logistics, technology, and industrial sectors in both the GCC and Jordan.

Q5. How much did trade exchange between the GCC and Jordan grow from 2019 to 2022?

A5. Trade exchange volume rose from $5.5 billion in 2019 to $8.6 billion in 2022, showing significant growth.

Q6. What was the value of Jordanian exports in 2023?

A6. Jordanian exports increased from $1.9 billion in 2022 to $2.3 billion in 2023.

Q7. Which country is Jordan’s top trade partner in the GCC?

A7. Saudi Arabia is Jordan’s top trade partner, accounting for 69% of GCC exports to Jordan and 59% of GCC imports from Jordan.

Q8. Which GCC country follows Saudi Arabia in trade with Jordan?

A8. The United Arab Emirates follows, with shares of 26% of GCC exports and 20% of imports from Jordan.

Q9. What is the FGCCC?

A9. The FGCCC is the General Secretariat of the Federation of Gulf Cooperation Council Chambers, an entity representing private sector interests across GCC member states.

Q10. Who is the Secretary-General of the FGCCC?

A10. The Secretary-General is Saleh Al Sharqi.

Q11. Is the conference supported by any official body?

A11. Yes, the conference has the support of the GCC General Secretariat.

Q12. What is Jordan’s role in the conference?

A12. The Jordan Chamber of Commerce is collaborating with the FGCCC to organize the conference.

Q13. Why is Jordan considered a promising investment partner?

A13. Jordan has substantial potential in various economic fields and can benefit from Gulf resources and diversification efforts under national strategies.

Q14. Which private sector ties does the conference aim to strengthen?

A14. The conference aims to strengthen ties between the Gulf private sector and counterparts in Arab countries, particularly Jordan.

Q15. How does the conference relate to national diversification strategies?

A15. It aligns with Gulf countries’ economic diversification efforts by promoting cross-border partnerships and investment.

Q16. When is the conference scheduled to take place?

A16. The conference is scheduled for December 4, 2024.

Q17. Where will the conference be held?

A17. The conference will be held in Jordan.

Q18. What is the expected outcome for Gulf-Jordanian relations?

A18. The outcome is expected to be enhanced economic integration and increased investment partnerships between the GCC and Jordan.

Q19. How does this conference support Saudi Vision 2030?

A19. It supports Vision 2030 by promoting economic diversification, regional integration, and private-sector leadership, contributing to long-term regional stability.

Q20. What was the source of the original announcement?

A20. The original announcement was made by the Saudi Press Agency (SPA).

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