Iraq discusses setting up broader partnerships with Saudi Arabia
The national flags of Saudi Arabia and Iraq. Photo: Gulf Leaders Circle
Baghdad (IraqiNews.com) – The Iraqi Ambassador to Saudi Arabia, Safia Al-Suhail, discussed bilateral cooperation with the president of the Federation of Saudi Chambers, Hassan Al-Huwaizi.
Al-Suhail confirmed that Iraq is eager to open new prospects of economic cooperation between the two countries, according to a statement published on X, formerly Twitter.
The Iraqi Ambassador also explained that Iraq is keen to set up broader partnerships between the private sectors of the two countries.
The Saudi Minister of Commerce, Majid Al-Qasabi, revealed last May that the volume of trade exchange with Iraq had increased to $1.5 billion in 2022, representing an increase of 50 percent compared to 2021.
The Iraqi Federation of Industries (IFI) announced in February that Saudi Arabia seeks to set up a marketplace for Iraqi products.
The IFI said in a statement that the commercial attaché in the Saudi capital, Riyadh, expressed interest in setting up a trading hub to exhibit Iraqi products in Saudi Arabia, Shafaq News reported.
The Saudi city of Jeddah hosted last May the 5th session of the Saudi-Iraqi Coordination Council, which witnessed several agreements that would benefit both sides politically and economically.
In the closing statement of the Saudi-Iraqi Coordination Council, the two sides expressed their keenness to continue joint work in many fields, especially energy, education, banking, and electrical interconnection.