Saudi Press

Saudi Arabia and the world
Tuesday, Feb 27, 2024

Jordan, Iraq call for greater cooperation among Arab nations

Jordan, Iraq call for greater cooperation among Arab nations

The leaders of Jordan and Iraq have called for deeper Arab collaboration in the energy, agriculture and oil sectors to achieve regional prosperity.
Speaking at the World Economic Forum in Davos on Thursday, Iraq’s President Abdulatif Rashid and Jordan’s Prime Minister Bisher Hani Al-Khasawneh said the Amman-Baghdad-Cairo mechanism would benefit the broader regional economy.

Rashid said that after years of wars, civil conflicts and terrorism, Iraq was ready to embark on a new journey of achieving peace and stability at home, while contributing to a better reality for the region.

He pointed to an “optimistic” outlook if the Middle East was “able to solve its conflicts without foreign interference.”

The newly formed Iraqi government planned to increase oil, gas and agriculture projects to help advance the regional economy, which has been reeling from the impact of the COVID-19 pandemic and rising inflation, he added.

But Iraq needed “regional cooperation and some international help in terms of investment and contracts,” Rashid said.

“We get most of our water from neighboring countries. In many cases, we share oil fields with Kuwait, Iran and other countries. We don’t have many ways but to cooperate along these lines, but in Iraq, we are lucky to have agriculture, tourism, oil fields and gas.”

Al-Khasawneh said the war between Ukraine and Russia had “reinforced beliefs in Jordan that the key to progress rests upon the foundation of collective action.”

But, he said, the region suffered from a serious deficiency in inter-Arab trade, which “does not exceed 13 percent of the total volume of Arab countries’ trade.”

“All synergies are fundamental and essential to the advancement of the economies of the region and in dealing with the challenges that respective countries face,” he added.

Al-Khasawneh said that the Amman-Baghdad-Cairo mechanism “does not exist in the void, and it’s open to all interested parties in the region.”

The mechanism essentially focuses on building an industrial zone on the Jordanian-Iraqi border and establishing a pipeline to carry oil and gas from Iraq to the borders of Jordan and Egypt.

Al-Khasawneh said that for a country that lacked natural resources, building on its human capital and establishing ties with neighboring countries in the region had been essential to achieving Jordan’s national objectives.

Due to collaborations with the International Monetary Fund and other regional and international institutions, the country had been able to keep its inflation rate at 4.2 percent, which, according to Al-Khasawneh, was a “low number compared to neighboring countries with the exemption of those with natural resources.”

Meanwhile, Rashid stressed the need to encourage private enterprise and modernize financial laws and banking regulations.

The Middle East was interconnected and needed to prioritize work for the stability of populations, he said.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Alkhorayef, has announced a partnership with the London Metal Exchange to set up metal storage and delivery centers in the country. Alkhorayef highlighted Saudi Arabia's expanding military industries sector, crediting the Public Investment Fund (PIF) as a key partner, during his speech at the second PIF Private Sector Forum in Riyadh
×