Riyadh, Amman expand cooperation

Deputy Crown Prince Mohammed bin Salman, second deputy premier and minister of defense, met with Jordanian Prime Minister and Minister of Defense Hani Al-Mulki at Al-Yamamah Palace here on Wednesday. Their meeting was the first of the Saudi-Jordanian Coordination Council.
The council later issued a joint statement.
During the meeting, the council reviewed the distinguished bilateral relations between the two countries in various fields, and discussed aspects of coordination in the areas referred to in the joint statement issued on 11/4/2016. The council confirmed its commitment to developing and enhancing these areas in order to achieve the aspirations of the leaderships of the two countries and serve the interests of both countries, the statement said.
During the meeting, a memorandum of understanding was signed between the Public Investment Fund and the Aqaba Economic Authority to establish an investment development project in Aqaba. An agreement was also reached between the two countries to avoid double taxation and prevent income tax evasion. A memorandum of understanding was reached for industrial cooperation between the two countries, as well as an executive program for cooperation between the Saudi Broadcasting Corporation in the Kingdom and the Jordanian Television and Broadcasting Institution.  
The meeting was briefed on a decision of the Public Investment Fund in the Kingdom in accordance with the memorandum of understanding in the field of investment promotion signed in Amman on Thursday (25/08/2016) regarding the establishment of an investment company for economic projects in Jordan, and to be registered in line with the Jordan Investment Law with participation of Jordanian banks and financial institutions.

The two sides agreed to finalize all relevant procedures regarding registration of all investment companies as early as possible.
The two sides agreed on the continuation of efforts and work of the preparatory committee of the Joint Saudi-Jordanian Coordination Council, and to complete other draft agreements, especially those in the fields of electrical connectivity, nuclear energy, investment promotion, mining, military cooperation, and military industries, so as to submit these drafts to the council to take required procedures for signatures during a visit of Custodian of the Two Holy Mosques King Salman to Jordan.
The two sides emphasized the importance of ongoing cooperation between the two countries.
At the end of the meeting, Al-Mulki expressed appreciation for the warm Saudi hospitality.
 
Agreements reached
 
The following were the agreements reached between Saudi Arabia and Jordan during the first meeting of the Saudi-Jordanian Coordination Council in Riyadh on Wednesday:
 
• MoU signed between the Public Investment Fund and the Aqaba Economic Authority to establish an investment development project in Aqaba
 
• Agreement reached between the two countries to avoid double taxation and prevent income tax evasion
 
• MoU reached for industrial cooperation between the two countries
 
• Executive program for cooperation agreed between the Saudi Broadcasting Corporation and the Jordanian Television and Broadcasting Institution

Source: Arab News