In the presence of 300 companies .. Jeddah hosts the Saudi-Iraqi Economic Forum

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[size=52]In the presence of 300 companies .. Jeddah hosts the Saudi-Iraqi Economic Forum[/size]

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2023-05-24
The activities of the “Saudi-Iraqi Economic Forum” will start tomorrow, Thursday, in Jeddah. It is organized by the Federation of Saudi Chambers with the participation of more than 300 companies, and in the presence of Iraqi Deputy Prime Minister Muhammad Tamim, Minister of Commerce Majid Al-Qasabi, and a number of ministers, officials, representatives of government and private agencies, and business owners from both countries.[/size]
[size=45]The Saudi newspaper, Al-Youm, in its issue issued today, quoted the head of the Federation of Saudi Chambers, Hassan Al-Huwaizi, as saying: The Saudi-Iraqi Business Council, which was established in 2017; It plays a pivotal role in raising the volume of trade exchange, defining the investment climate, and encouraging investors from both countries to establish joint investment projects.[/size]
[size=45]He praised the interest accorded to Saudi economic relations by the political leadership in the two countries, which culminated in the establishment of the Saudi-Iraqi Coordination Council.[/size]
[size=45]The opening session of the forum includes ministers and representatives of the Saudi and Iraqi private sectors, while its agenda includes presentations on the Joint Coordination Council, the Saudi-Iraqi Investment Company, and investment opportunities in the Kingdom and Iraq.[/size]
[size=45]The opening session will witness the signing of a number of agreements and the holding of bilateral meetings between the two sides.[/size]
[size=45]The forum is scheduled to discuss issues of activating the use of the Arar border crossing, the mechanism for exchanging information on investment opportunities, raising the volume of Saudi exports to Iraq, supplying products to Iraqi companies, and the role of the transport sector.[/size]
[size=45]The business sectors in the Kingdom and Iraq are counting on the positive outputs of the forum in light of clear governmental support and interest, in conjunction with the work of the fifth session of the Joint Saudi-Iraqi Coordination Council in Jeddah.[/size]
[size=45]The volume of trade exchange between the Kingdom and Iraq reached 5.7 billion riyals in 2022, achieving a growth of 50%, while the border crossing at Arar contributed to the growth of Saudi exports to Iraq by about 132%.[/size]
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