Samir Nass calls for taking advantage of the Gulf and Jordanian economic components and translating them into cooperation projects

During his leadership of the Bahrain Chamber delegation at the opening of the activities of the First Jordanian Gulf Investment Conference:

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People: Achieving the four freedoms stipulated in the Manama Declaration for the Arab private sector will accelerate the pace of development and the desired economic integration.

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Nass: Accelerating the steps of economic integration increases the chances of achieving economic citizenship among the cooperation countries.

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Najibi: $152 million, the volume of trade exchange between Bahrain and Jordan, an increase of 9% over previous years.

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Najibi: $9.6 billion is the value of Jordan’s imports to the Gulf.

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Samir bin Abdullah Nass, Chairman of the Bahrain Chamber of Commerce and Industry, stressed the importance of benefiting from the great economic potentials and components of each of the Gulf Cooperation Council countries and the Hashemite Kingdom of Jordan, and translating them into cooperation projects that are in the interest of serving their economy and its ability to face the consequences of successive global economic crises, explaining that the consensus of visions between owners of… Their Majesties and Highnesses, the leaders of the Gulf Cooperation Council countries and the Hashemite Kingdom of Jordan, regarding establishing a distinguished strategic partnership that represents an incentive for the Gulf and Jordanian private sector. To increase the rates of trade to distinct levels.

During his presidency of the Bahrain Chamber delegation participating in the first Gulf-Jordanian investment conference organized by the Jordan Chamber of Commerce and the Federation of Gulf Cooperation Council Chambers yesterday morning, under the slogan “Partnerships, Investment, Economic Integration,” he called for the prospects for cooperation and investment in many of the promising strategic sectors that the Kingdom of Jordan provides to… The importance of achieving the four freedoms stipulated in the Manama Declaration for the Arab private sector, which is based on the principle of freedom of movement of individuals: granting multiple long-term visas to businessmen, in addition to the freedom of movement of people. Money and ease of transfers, as well as the freedom of movement of goods by removing non-tariff obstacles: unifying specifications and standards and unifying registration procedures, in addition to the freedom of movement of services by accelerating the approval of the Trade and Services Liberalization Agreement.

Nass said that accelerating the steps of economic integration will increase the chances of achieving economic citizenship among the countries of the Gulf Cooperation Council, which is a strategic goal in the path of the Gulf Cooperation Council, as the Kingdom of Bahrain continues to make more efforts to support joint Gulf projects that will achieve the goals and interests stipulated in the Charter. The Council and to enhance the competitiveness of this economic bloc in a way that serves the economies of all member states, calling for accelerating the steps to complete the customs union and unify customs systems and procedures, as it is one of the main goals that are being pursued to facilitate the movement of goods and services, enhance economic integration, and achieve a common vision. For a unified economy, as well as the common Gulf market, which is an important investment and trade base for the Gulf Cooperation Council countries that can compete with major global markets.

The President of the Chamber praised the strong and established historical fraternal relations that bring together the cooperation countries in the Hashemite Kingdom of Jordan, which always push towards developing the strategic partnership between them in all fields in implementation of the directives of their Majesties and Highnesses, the leaders of the Gulf Cooperation Council countries and the Hashemite Kingdom of Jordan, pointing out that based on those relations The existing document between the Gulf Cooperation Council countries and sisterly Jordan states that the Gulf private sector is constantly open to everything that would achieve common economic interests in accordance with ambitious strategies capable of To keep pace with the developments of international economic variables and their impact on local markets, especially in light of regional instability and its potential impact in the future on the economic map of Arab countries.

In turn, Mr. Khalid Muhammad Najibi, First Vice President of the Chamber, stressed the keenness of the Kingdom of Bahrain to strengthen the frameworks of bilateral cooperation with the Hashemite Kingdom of Jordan at all levels and in various fields, in a way that reflects the historical fraternal ties between the two brotherly countries and the distinguished relations between His Majesty King Hamad bin Isa Al Khalifa, King of the country. Al-Moazam, and his brother, His Majesty King Abdullah II bin Al-Hussein, King of the sisterly Hashemite Kingdom of Jordan, noting the importance of strengthening joint efforts to activate all agreements and memorandums. The understanding signed between the two brotherly countries to enhance cooperation in the economic, investment and trade fields at all levels and levels.

Najibi explained that the volume of trade exchange between Bahrain and Jordan during 2023 reached about 152 million US dollars, an increase of 9% compared to the previous year, while the volume of trade exchange between the countries of the Gulf Cooperation Council and Jordan reached 36 billion dollars during the period from 2020 to 2023, while Jordan’s imports to the Gulf were estimated at about $9.6 billion, indicating that the gross domestic product of the Gulf Cooperation Council countries last year amounted to about 2.1 trillion dollars, while the market value of the Gulf financial markets exceeded about 4.4 trillion dollars, and the balance of foreign direct investment coming into the Gulf Cooperation Council countries reached about 600 billion dollars, while the value of foreign assets reached more than 700 billion dollars, while the size of the economy reached Digital is about $118 billion.