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Saudi Ambassador: Iraq has agreed to sign a memorandum of understanding to protect Saudi investments
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Saudi Ambassador to Iraq Abdulaziz Al-Shammari confirmed that Iraq has approved a draft memorandum of understanding to protect Saudi investments inside Iraq.
"There will be fruitful cooperation between Riyadh and Baghdad, where the Iraqi Prime Minister issued a draft memorandum of understanding on the protection of investments between the Kingdom of Saudi Arabia and the Republic of Iraq, and this is very encouraging for investment," al-Shammari said in an interview with the Saudi daily Al-Youm. "He said.
He added that the Saudi product is one of the best products and desirable in the Republic of Iraq because of its high quality and competition for many products of other countries, and is one of the best products at all levels except food products or construction materials.
Al-Shammari pointed out that Iraq is coming in the next phase on the reconstruction and development, and the Saudi companies will have an active role there. The Kingdom will contribute 1.5 billion as a contribution to the reconstruction of Iraq. Development projects will be allocated to benefit the Iraqi citizen. For the Kingdom and Iraq will be an important stage in the relations between the two countries.
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