Albudaiwi: Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi stated that efforts to enhance economic relations between the GCC States and Jordan are grounded in deep historical ties and a shared cultural heritage, stressing that these initiatives respond to the mutual desire and strong conviction among the wise leaderships on both sides regarding the necessity of strengthening cooperation in all fields.
According to Saudi Press Agency, this was stated during Albudaiwi’s speech at the First GCC-Jordanian Investment Conference, themed “Partnerships, Investment, Economic Integration”, which was sponsored by King Abdullah II bin Al Hussein of the Hashemite Kingdom of Jordan. The conference was attended by the Minister of Investment of the Hashemite Kingdom of Jordan Eng. Mothanna Gharaibeh, along with heads of the chambers of commerce from the GCC states and Jordan, as well as a number of businesspeople from both sides.
Albudaiwi highlighted the depth of the historical relationship and sha
red interests between the GCC states and Jordan, which have been institutionalized through the founding of a strategic partnership and the adoption of a joint action plan for cooperation (2020-2025). He emphasized that this cooperation is aimed at achieving common goals and interests for the countries and their peoples.
Moreover, Albudaiwi noted the successful economic achievements within the GCC framework, including the establishment of a free trade area in 1983 and the implementation of a customs union in 2003. These initiatives have facilitated economic, investment, and service activities among GCC states, with citizens enjoying equal treatment across member states.
He presented economic statistics, stating that the total GDP of the GCC Member States reached $2.1 trillion in 2023, with the market capitalization of Gulf financial markets exceeding $4.4 trillion. The total value of foreign reserves held by the GCC was approximately $747 billion, with a 4.4% growth rate compared to 2022.
Albudaiwi expresse
d optimism for enhancing trade facilitation and cooperation in various sectors, including e-commerce, financial technologies, and tourism. He noted that Gulf investment in the Amman Stock Exchange ranks first among Arab and foreign investments, exceeding $4 billion, while Jordanian investments in the Gulf financial markets exceed $700 million.
In conclusion, Albudaiwi emphasized the importance of strengthening the strategic GCC-Jordanian relations to benefit the people, stating that both sides have all the necessary elements for successful economic relations.
