[size=30]The Iraqi-Saudi trade exchange amounted to $5 billion, and the activity of the Arar port rose 75%.. Tomorrow the electrical connection will start
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Yes Iraq: Baghdad
Today, Sunday, the Iraqi-Saudi Coordination Council revealed that the trade exchange between Iraq and Saudi Arabia has reached $5 billion, while noting that activity through the Arar port has increased 75% compared to the first month of its opening.
The Secretary-General of the Council and the Governor of the Saudi General Authority for Foreign Trade, Abdul Rahman bin Ahmed Al-Harbi, said that “the establishment of the Coordination Council between Iraq and Saudi Arabia came in order to strengthen relations, as it includes all areas and opportunities for cooperation between the two countries, including the Iraqi and Saudi private sectors,” noting that “the aim of The council is to help young people create real job opportunities as well as contribute to the developmental aspects of the Iraqi people.”
He added, "The continuous meetings between the Iraqi and Saudi leaderships contributed to following up on all the achievements of the Coordinating Council and supporting all the agreements," noting that "the Arar road project is one of the pivotal projects that have been completed, and it is the first direct land line, and by the nature of the ports, it is one of the means for the commercial outlets between the two countries." .
He stressed that "the Arar port has achieved a growth of 75% over what it was in the first month," noting that "Saudi Arabia is keen to establish a commercial exchange area in an integrated area, which leads to an objective shift in the port's performance."
He added, "The work of the Arar port continues to be developed from the Iraqi side, and we have noticed the seriousness of this to facilitate the movement of trade exchange."
Al-Harbi indicated that "for the first time a joint business council was formed between the two sides, and a number of commercial investment opportunities were discussed in various sectors, as their presence in Iraq creates many job opportunities, provides the main needs and helps in developing infrastructure," pointing out: "We are at work." Serious with the Iraqi side and we address all problems, and that Prime Minister Mustafa Al-Kazemi was a great supporter, and the Secretary of the Coordination Council Hamid Al-Ghazi responded quickly to everything that occurred.
And he indicated that "Saudi investments in Iraq, including the Samawa area, are in serious discussions to determine the locations of the lands in which Saudi projects will invest and find appropriate options," explaining that "the electrical connection projects with Iraq are in their final stages, and we may announce them in the near period."
He explained that "work is underway to complete the sports city in Iraq, which is the king's gift to the Iraqi people," noting that "the projects that will be implemented in Iraq are not temporary, but sustainable."
Al-Harbi added that "Saudi Arabia is working to support Iraq and try to include it in the World Trade Organization, where Saudi Arabia chairs the Arab group," noting that "we support Iraq to join that world organization and we are ready to provide technical and technical support and convince countries to do so."
And on the trade exchange, he indicated that “the level of cooperation in the trade balance is clear and there is growth during the past five years, as we are talking about $5 billion,” noting that “one of the most difficult years is the past three years due to the Corona pandemic, which changed all balances.”
He stated that "Saudi Arabia is keen to be Iraq's first trading partner in the region, and we are working on this with the Iraqi side," noting that "Saudi products are very highly accepted by the Iraqi people."
[rtl]The trade exchange reached 15%, and tomorrow the electrical connection with Saudi Arabia will be implemented[/rtl]
On the other hand, the Secretary-General of the Council of Ministers, Hamid Al-Ghazi, announced that Iraq and Saudi Arabia will sign tomorrow an agreement on electrical interconnection to replace energy, while noting that a delegation from the Ministry of Agriculture will visit Saudi Arabia soon.
Al-Ghazi said in his speech during the Iraqi-Saudi Business Forum held in Riyadh, that "the Saudi side submitted a paper that included some problems at the Arar port, and we will work to overcome them and dealt with some of them, and the rest will be addressed during the next week."
Al-Ghazi continued, "The Coordination Council resulted in the opening of an annex in Baghdad and the signing of many memoranda of understanding to strengthen the relationship between the two countries, and we are working on many files, including the electrical connection, the development of industrial cities, sports cooperation and others," noting that "tomorrow will witness the signing of the electrical linkage agreement between Iraq." and Saudi Arabia to replace energy.”
He explained that "our technical teams are continuing their work in petrochemicals," noting that "the three pillars of the Kingdom's Vision 2030 and the Crown Prince's Green Middle East initiative, will result in discussions after the arrival of a delegation from the Agriculture Committee headed by the Minister of Agriculture to Saudi Arabia."
And he indicated that "the council has an important role in economic cooperation, and we hope that the partnership will benefit from the industrial and economic sectors and create sustainable industrial projects," explaining that "since the formation of the Coordination Council from the beginning, we have proven a key point, which is not to stop the Iraqi and Saudi Economic Business Council with a real will between the two governments."
He stressed that "the volume of trade exchange between the two countries amounted to 15%, and this is a development and progress, and we aspire to reach a number worthy of the capabilities of the two countries."
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