Saudi-Iraqi Commercial Relations, at their Best Level, Minister of Commerce Says

23 Jan 2022

Maaal Riyadh

اقرأ المزيد

Minister of Commerce and Co-chairman of the Saudi Coordination Council, Dr. Majid bin Abdullah Al-Qasabi, reiterated the strong relations between the Kingdom of Saudi Arabia and Republic of Iraq, share common interests and are united by historical ties.

The leaderships of the two countries are keen to take the relations to new heights in various fields and invest all capabilities and opportunities for the benefit of the two sides, Dr. Al-Qasabi said, in a statement, on the occasion of the Saudi-Iraqi Business Forum, held in Riyadh.

Saudi-Iraqi relations, in light of the follow-up by the leaderships in the two countries, are at their best and witnessing significant growth, adding the Saudi Iraqi Coordination Council is keen to boost cooperation in various fields, including economic, development, the security, investment, tourism, cultural, and media, SPA reported, citing the minister.

The council’s endeavor to remove all obstacles to encourage investment, provide an opportunity for businessmen to learn about the advantages of the commercial and investment sectors, and adopt effective means that contribute to the development of border areas and stimulate promising investment opportunities, Dr. Al-Qasabi stressed.

The trade exchange volume between the Kingdom and Iraq amounted

to SR17.7 billion during the past five years. The two sides have engaged in joint projects including cooperation in energy, petrochemical industries, transportation, logistics services, irrigation systems, agricultural equipment, food industry, contracting sector, and real estate development.