Saudi backs Jordan’s bid for FTA with Gulf

Saudi Arabia says it will support Jordan’s bid to sign a free trade agreement with the six nations that make up the Gulf Cooperation Council.

Oil-rich Saudi Arabia made the promise after two days of talks between officials from the two nations.
Jordan has few natural resources and is seeking a trade deal to increase investment and boost the flow of goods, capital and labor.

Saudi Arabia pledged to raise the issue at a GCC meeting. No date has been set.

Jordan’s trade minister, Amer Hadidi, said on Monday that trade with Saudi Arabia reached $1.8 billion in the first seven months of 2010. That’s an increase of $300 million from than the same period last year.