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Jordanian-Saudi ties reaching new heights

Jul 06,2020 - Last updated at Jul 06,2020

His Majesty King Abdullah has received an invitation letter from Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al Saud of Saudi Arabia to attend, as a guest of honour, the G-20 summit, which will be chaired and hosted by Saudi Arabia on November 21.

The Saudi monarch’s invitation to His Majesty King Abdullah, the only Arab leader to have been invited, reflects the deep-rooted ties between the two kingdoms.

This year, the convening of the world’s largest economies comes against the backdrop of the coronavirus pandemic.

As the virus crisis steers the global economy into uncharted waters, the meeting of the Group of Twenty (G-20) — representing around 80 per cent of the world’s economic output, two-thirds of the global population and three-quarters of international trade — is an apt opportunity to contain the economic repercussions of the pandemic and propel discussions on socioeconomic issues.

In March, His Majesty, with HRH Crown Prince Hussein, participated in the virtual Extraordinary G-20 Leaders’ Summit, held by Saudi Arabia and chaired by King Salman, to advance a coordinated global response to the coronavirus disease (COVID-19) and its economic and healthcare implications.

“This human crisis requires a global response. The world is counting on us to come together and cooperate in order to face this challenge,” the Saudi monarch had said during the meeting.

The upcoming G-20 meeting offers Jordan an opportunity to showcase its business-friendly environment and attract new investments, especially as the Kingdom kick-starts its economic engine, which was stalled for nearly three months by the virus-induced lockdown.

Jordan earnestly values the continuous support of Saudi Arabia, which maintains one of the highest investment rates in the Kingdom, with a value exceeding $12 billion in the transportation, infrastructure, energy, financial, commercial, tourism and construction sectors.

Around $1.83 billion of direct Saudi investments in Jordan at the end of 2018 have been distributed among the services, agriculture and industry sectors.

Additionally, Saudi Arabia has made investments exceeding $2.1 billion in the Aqaba Special Economic Zone, mostly in the tourism construction sector.

It is evident that the Saudi support over the years has helped Jordan weather challenges emerging from regional instability.

The forum has been instrumental in addressing global challenges and Saudi Arabia’s assumption of the G-20 presidency reaffirms its central role in regional and global affairs.

The Saudi G-20 presidency provides ample opportunities amid a series of crises, notably the COVID-19 pandemic. 

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