Saudi Arabia is applying to exempt 891 items from customs duties
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Saudi Arabia submitted to Iraq, on the sidelines of the meeting of the Iraqi-Saudi Coordinating Council, a list of 891 items of its products for the purpose of reducing or exempting them from customs duties.
In addition to the list of customs exemptions, Saudi Arabia has put forward a proposal to open a free zone in Arar port after opening in the next six months.
The meeting discussed the development of financial relations and urged Saudi banks to open branches in Iraq, in addition to opening a branch of the Iraqi Trade Bank in Riyadh in the middle of next month, as well as study the export of Iraqi dates, wheat and other national products and achieve integration in food security between the two countries and investment in poultry And agrarian reform.
In the field of investments, committees of the Iraqi-Saudi Coordination Council have agreed to open the door to investment in the oil and gas, industry, electricity, manufacturing, and the production of electric and renewable energy, as well as investment in phosphate and petrochemicals.
The most important decisions of the Council came in agreement to develop a plan for the railway project between the two countries and exchange studies on the development of ports and air transport.
The council discussed mechanisms to start implementing the stadium project to Iraq in the coming months.
In the tourism sector and religious visits, the parties concerned with Hajj and Umrah and religious visits in Iraqi cities have confirmed the rehabilitation of the old pilgrimage route between Kufa and the Holy Land, increasing the share of Iraqis wishing to perform the annual pilgrimage, in addition to opening the horizons for tourist groups, On antiquities, manuscripts and museums.