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A soft drink factory opens a new era in Iraqi - Arab economic relations
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A factory recently announced in southern Baghdad, part of the Coca-Cola Company, symbolizes a new era in economic relations between Iraq, Saudi Arabia and the United Arab Emirates. A senior executive said a deal by the two countries to improve ties with Iraq helped secure a 250 million dirham bottled beverage factory, partly owned by Coca-Cola.
"The march of the UAE and Saudi Arabia to open the relationship with Iraq and its market has been very positive for us," said Mashaal Al Kedib, vice president of strategy and business development at Aujan Coca Cola.
The factory is due to arrive in 2018 southwest of Baghdad between Hilla, Najaf and Karbala in what is known as the country's industrial belt.
"The improved tripartite relationship has made our work, and our project easier, the rise between Saudi Arabia and the United Arab Emirates ... certainly helped us."
In 2011, Coca-Cola bought a $ 980 million stake in the Saudi Oujan Beverage Company, famous for its popular Vimto and Rani. This year's Coordinating Council was formed between Saudi Arabia and Iraq to strengthen relations between the two countries.
Iraq also hopes that Saudi Arabia will put up a reconstruction project for Mosul after the Iraqi army liberates the city from a tight grip.
Al-Qudib told Gulf News that his company expects the plant to create at least 150 jobs for Iraqis, placing them closer in the supply chain to an important and growing consumer market.
"We are already bigger there, especially with consumer goods moving fast."
Through these economic initiatives, Saudi Arabia is trying to back down against what it sees as unwarranted Iranian influence in Iraq.
After returning to relative stability after years of conflict that has seen much of the country destroyed, the Iraqi government is trying to attract foreign funds to the country and create jobs to ease social discontent.
[You must be registered and logged in to see this link.]
A factory recently announced in southern Baghdad, part of the Coca-Cola Company, symbolizes a new era in economic relations between Iraq, Saudi Arabia and the United Arab Emirates. A senior executive said a deal by the two countries to improve ties with Iraq helped secure a 250 million dirham bottled beverage factory, partly owned by Coca-Cola.
"The march of the UAE and Saudi Arabia to open the relationship with Iraq and its market has been very positive for us," said Mashaal Al Kedib, vice president of strategy and business development at Aujan Coca Cola.
The factory is due to arrive in 2018 southwest of Baghdad between Hilla, Najaf and Karbala in what is known as the country's industrial belt.
"The improved tripartite relationship has made our work, and our project easier, the rise between Saudi Arabia and the United Arab Emirates ... certainly helped us."
In 2011, Coca-Cola bought a $ 980 million stake in the Saudi Oujan Beverage Company, famous for its popular Vimto and Rani. This year's Coordinating Council was formed between Saudi Arabia and Iraq to strengthen relations between the two countries.
Iraq also hopes that Saudi Arabia will put up a reconstruction project for Mosul after the Iraqi army liberates the city from a tight grip.
Al-Qudib told Gulf News that his company expects the plant to create at least 150 jobs for Iraqis, placing them closer in the supply chain to an important and growing consumer market.
"We are already bigger there, especially with consumer goods moving fast."
Through these economic initiatives, Saudi Arabia is trying to back down against what it sees as unwarranted Iranian influence in Iraq.
After returning to relative stability after years of conflict that has seen much of the country destroyed, the Iraqi government is trying to attract foreign funds to the country and create jobs to ease social discontent.
[You must be registered and logged in to see this link.]
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