GSO explores the Future of Standardization to Achieve Economic Integration between the GCC Countries and the Hashemite Kingdom of Jordan

The deliberations of the “third session of the Gulf Jordanian Economic Communication Forum” was concluded in the Jordanian capital, Amman, under the title “New Horizons for Economic and Investment Cooperation”, which was held on 27-28 September 2022.

The event was organized by the Jordan Chamber of Commerce, in cooperation with the Federation of Gulf Cooperation Council Chambers, with support of the General Secretariat of the GCC Cooperation Council for the Arab States of the Gulf. The wide participation brought together leaders, business owners, investors, heads of federations and chambers of commerce, in addition to Gulf bodies.

The forum was inaugurated by the Jordanian Minister of Industry, Trade and Supply, His Excellency Dr. Yousef Al-Shamali, on behalf of the Jordanian Prime Minister, and in the presence of His Excellency the Secretary-General of the GCC Cooperation Council for the Arab States of the Gulf, Dr. Nayef Falah Mubarak Al-Hajraf, His Excellency the President of the Federation of Chambers of Commerce in the Gulf Cooperation Council and the President of the Federation of Saudi Chambers, Ajlan Al-Ajlan, the Director General of the Gulf Health Council, Mr. Suleiman Al-Dakhil, His Excellency the President of the Arab Organization for Agricultural Investment and Development, Mr. Muhammad bin Obaid Al Mazrouei, and a number of distinguished ambassadors of the GCC Cooperation Council for the Arab States of the Gulf in the Hashemite Kingdom of Jordan.

In the working paper presented by the GCC Standardization Organization (GSO), His Excellency President of GSO, Mr. Saud bin Nasser Al-Khusaibi, highlighted the role of GSO in facilitating trade exchange and eliminating the technical barriers to trade (TBT) among member states, with the objective of supporting the Gulf common market, the customs union and the single point of entry, and thus contributing to the implementation of the  economic agreement of the GCC Cooperation Council for the Arab States of the Gulf.

The working paper presented by His Excellency Al-Khasaibi also addressed the importance of standardization as experienced by proven research and studies that were implemented in a number of countries in the world, which showed in figures the increase in domestic product, support of national economies, encourages innovation and creativity, raises the level of safety of products and services and protects public health and the environment.

In the third part of the working paper, the president of GSO highlighted the promising investment opportunities in the areas of standardization, stressing the importance of keeping abreast with global trends in a number of areas foremost of which are climate change, supply chains, food security, artificial intelligence, digital transformation, green economy and the circular economy, the fourth industrial revolution, cybersecurity, smart cities, and other areas that constitute investment and strategic opportunities for GCC member states and the Hashemite Kingdom of Jordan.

His Excellency Al-Khusaibi concluded his paper by shedding light on the most prominent challenges and proposed solutions to achieve technical harmonization in the field of standardization in order to pave the way to accomplish economic integration within the international standardization system.

Participants in the forum held three working sessions that discussed investment in Jordan, and presentations on investment opportunities in the Gulf Cooperation Council Countries, and Gulf-Jordanian economic integration. participants encompassed businessmen, investors, government officials and the private sector in both the Gulf Cooperation Council Countries and Jordan. Feasibility studies were also presented for investment projects for entrepreneurs in Jordan, in promising sectors such as transportation, logistics, tourism, medical tourism, the financial and banking sector, information technology, food security, and agro-industry.

The forum concluded with a set of recommendations to enhance cooperation efforts between the two sides, mobilize and intensify efforts, and agree on consistent, integrated and sustainable work mechanisms and policies.

The activities of the third Jordanian Gulf Economic Communication Forum also included several field visits for the participants, including a visit to the King Hussein Business Complex and the Crown Prince Foundation.