Saudi Shura agrees on mutual protection of investments with Iraq
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Economy News - Baghdad
The Saudi Shura Council approved on Monday a draft agreement between Saudi Arabia and the Republic of Iraq on the promotion and mutual protection of investments.
An investment promotion and protection agreement was signed between Saudi Arabia and Iraq during Prime Minister Adel Abdul Mahdi's visit to Saudi Arabia in April 2019.
It was signed by the Saudi side, Minister of Trade and Investment Majid bin Abdullah al-Qasabi, and the Iraqi side by the head of the National Investment Authority, Sami al-Araji.
The Cabinet approved the agreement last May; it was discussed by the House of Representatives last September.
The Saudi Shura Council approved a draft memorandum of understanding between the Saudi government and the government of Iraq to cooperate in the field of maritime transport, and a draft memorandum of understanding to organize the transport of passengers and goods by road between the Ministry of Transport in the Kingdom and the Iraqi Ministry of Transport.
The 63rd ordinary session of the Majlis, chaired by its Chairman Abdullah Al-Sheikh, has just begun.