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Saudi-Jordanian Mining and Pharma Partnerships to Progress Following Ministerial Visit

• By Newsdesk
• Riyadh
• May 23, 2024

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The collaboration between Saudi Arabia and Jordan in the mining and pharmaceutical sectors is set to progress following a high-level visit to the Hashemite Kingdom. Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, met with Mohammed Ahmed Al-Shehhi, chairman of the Arab Mining Co., starting on May 21.

The Ministry of Industry and Mineral Resources reported that in 2023, Saudi exports to Jordan totaled SR7.6 billion ($2 billion), while imports from Jordan were SR7.5 billion. Saudi exports included food, petrochemicals, polymers, and construction materials, while imports from Jordan comprised various commodities and pharmaceuticals.

Saudi Arabia has previously launched investment initiatives in vaccines and biologics worth $3.4 billion to ensure a steady supply of pharmaceuticals and establish itself as a key player in drug supply.

During his visit, Alkhorayef discussed enhancing mining cooperation with Al-Shehhi and Vice Minister of Mining Affairs Khalid bin Saleh Al-Mudaifer. They explored utilizing mining resources in both countries, focusing on strategic and rare minerals, and attracting significant investments in the sector.

On his X account, Alkhorayef mentioned discussions with Jordanian mining companies about developing the mining sector and exploiting the region's mineral resources. He also engaged with Jordan Phosphate Mines Co. to explore collaboration in phosphorus compound production and with Arab Potash Co., the region's largest potash producer, to enhance cooperation in specialized fertilizers.

In the pharmaceutical sector, Alkhorayef met with Tareq Darwazeh, chairman of the Jordanian Association of Pharmaceutical Manufacturers, to discuss manufacturing and marketing collaborations. He toured Jordanian pharmaceutical factories, including MS Pharma’s sterile injectables plant and Hikma Pharmaceuticals, and reviewed their international facilities via a virtual presentation.

Alkhorayef also visited the Saudi embassy in Amman, engaging with Jordanian investors and businesspeople to discuss trade and investment opportunities in mining and industry. His visit reflects Saudi Arabia's commitment to attracting investments in pharmaceuticals and healthcare and facilitating exports globally.

The Saudi minister is scheduled to meet with Jordan’s Prime Minister Bisher Al-Khasawneh, Minister of Industry, Trade, and Supply Yousef Mahmoud Al-Shamali, Minister of Energy and Mineral Resources Saleh Al-Kharabsheh, and Minister of Investment Khuloud Al-Saqqaf, as well as several investors and private sector leaders.