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In continuation of the joint bilateral cooperation between the Kingdom of Saudi Arabia and the Republic of Iraq, and based on the historical fraternal ties between the two brotherly countries, and in implementation of the directives of His Royal Highness, Crown Prince and Prime Minister Prince Muhammad bin Salman bin Abdulaziz Al Saud - may God protect him - and His Excellency the Prime Minister of the Republic of Iraq, Mr. Muhammad Shayaa Al-Sudani, and the importance of bilateral work in strengthening these ties and the desire to consolidate the bonds of fruitful cooperation in all fields.
The work of the fifth session of the Saudi-Iraqi Coordination Council was held on Thursday, Dhu al-Qi`dah 5, 1444 AH, corresponding to May 25, 2023 AD, in Jeddah Governorate, Kingdom of Saudi Arabia, in the presence of Their Highnesses and Excellencies members of the Council and heads of sub-committees from the Saudi and Iraqi sides, where the Saudi side was headed by His Excellency Dr. Majed Bin Abdullah Al-Qasabi, Minister of Commerce, Chairman of the Council from the Saudi side, and the Iraqi side was chaired by His Excellency Dr. Muhammad Ali Tamim, Deputy Prime Minister and Minister of Planning, Chairman of the Council from the Iraqi side.
The following is the text of the joint statement issued by the meeting:
Proceeding from the deep-rooted and historical fraternal bonds and bonds that unite the Kingdom of Saudi Arabia and the Republic of Iraq, and between their two brotherly peoples, and in order to strengthen the distinguished relations between them, today, Thursday, Dhu al-Qi`dah 5, 1444 AH, corresponding to May 25, 2023, the work of the fifth session of the Saudi-Iraqi Coordination Council was held in Jeddah Governorate. in the Kingdom of Saudi Arabia.
The Saudi and Iraqi sides affirmed their determination to strengthen relations between the two brotherly countries in all fields, and they reviewed the work of the fifth session of the Saudi-Iraqi Coordination Council and the agreements and memorandums of understanding that resulted from the previous four sessions aimed at strengthening the brotherly relations between the two brotherly countries, and they approved the results of the work of the Council in its fifth session. And the findings of the sub-committees (Energy and Transformational Industries Committee, Political, Security and Military Committee, Cultural, Media and Islamic Affairs Committee, Agricultural Committee, Economic, Trade, Investment, Development and Relief Committee, Education, Youth and Sports Committee, Transportation, Border Crossings and Ports Committee, Finance and Banking Committee), which included the most important :
• Emphasizing the importance of expanding and strengthening the horizons of bilateral cooperation to serve the interests of the two countries and the two brotherly peoples in various fields, especially political, security, trade, investment, cultural, educational, tourism and energy, and building on the positive results achieved in the mutual visits between officials of the two countries during the last period.
• The two countries praised the successful efforts of the OPEC Plus countries in promoting the stability of the global oil market. They also stressed the importance of continuing this cooperation and the need for all participating countries to adhere to the OPEC Plus agreement, in a way that serves the interests of producers and consumers and supports the growth of the global economy. The two sides also valued the progress in the work of the joint team to implement the Saudi-Iraqi electrical interconnection project with a capacity of 1,000 megawatts in accordance with the principles of the agreement signed between the two sides. Requirements for the implementation of renewable energy projects with a capacity of 1000 megawatts, and the continuation of consultations and meetings for the implementation of the Nebras Al Sharq petrochemical project.
The two sides affirmed their determination to raise the pace of economic and investment cooperation to advance investment relations to the level of promising investment opportunities and projects owned by the two countries, through concerted efforts to create a fertile and stimulating investment environment and create appropriate investment conditions, intensifying visits of mutual delegations, and holding joint investment activities periodically to discuss Exploring promising investment opportunities and stimulating the government and private sectors to reach qualitative trade and investment exchanges in a way that achieves the aspirations of the two peoples by launching a set of joint initiatives and supporting companies to enter government competitions. The brotherly Republic of Iraq has also renewed its call for Saudi companies to invest in promising opportunities in Iraq and in
various fields.
The meeting witnessed a discussion of the establishment of the Saudi-Iraqi Investment Company wholly owned by the Public Investment Fund, opportunities for building investment partnerships in Iraq, and a review of various investment opportunities in a number of sectors.
The two sides praised the growth of the volume of intra-trade between the two brotherly countries, as the volume of trade exchange reached (1.5) billion dollars for the year 2022 AD, an increase of (50%) compared to the year 2021 AD, which reflects the depth and sustainability of economic relations between the Kingdom of Saudi Arabia and the Republic of Iraq, and the two sides agreed to Continuing to enhance trade exchange between the two countries, benefiting from the opening of the new port of Arar, and accelerating the opening of the Jumaimah border crossing. The Kingdom praised the economic reforms pursued by the Government of the Republic of Iraq, and the two sides affirmed their keenness to enhance joint economic cooperation that aims to achieve stability and economic prosperity for the two brotherly peoples and enhance their ability to overcome the challenges facing them. imposed by the recent international crises.
• The two sides praised the role of the Saudi Commercial Attaché and the Saudi Companies Center in Baghdad, which contributed to the development of intra-trade between the two countries and investments by enabling Saudi companies to open branches in the Republic of Iraq and facilitating access to investment opportunities and projects.
• What has been accomplished in the financial sector was also praised, as the branch of the National Bank of Iraq will contribute to facilitating the intra-trade process between the two countries, as well as the branch of the Iraqi Trade Bank when it starts its work, and the announcement of the Arab National Bank in the Kingdom of Saudi Arabia with the strategic partner "Arab Bank" to establish " Arab Bank of Iraq", and the promotion of investments between the two sides is supported by the double taxation avoidance agreement, which is expected to enter into force soon. On cooperation between the two central banks in the field of financial technologies, in addition to the existing coordination between other financial agencies such as ministries of finance and financial market authorities.
• The two sides stressed the importance of discussing prospects for cooperation and opportunities for integration and striving to build strategic partnerships in the special economic zones between the Kingdom of Saudi Arabia and the Republic of Iraq by working to establish a special economic zone on the borders of the two countries.
• The Republic of Iraq has appreciated the Kingdom of Saudi Arabia's announcement of an amount of one and a half billion dollars for the reconstruction of Iraq at the Kuwait Conference for the Reconstruction of Iraq, which was held during the period 12-14 February 2018 AD, and its pledges and contribution to it. The two sides urge the existing development projects presented by the Government of the Kingdom of Saudi Arabia through the Saudi Fund for Development Which aims to contribute to achieving sustainable development in the Republic of Iraq, and they also discussed the challenges facing the course of development work, and how to overcome them to achieve the development goals of growth and prosperity, and praised the launched development projects funded by the Saudi Fund for Development.
• The two sides reviewed the effective role played by the Saudi-Iraqi Business Council in developing economic relations and cooperation between the business sectors of the two sides and supporting small and medium enterprises, and stressed the importance of continuing those efforts in coordination with government agencies in both countries to overcome any challenges facing the business community.
• Continued joint cooperation in confronting the threat of extremism and terrorism as an existential threat to countries in the region and the world. They agreed to continue supporting Iraq's efforts in cooperation with the international coalition to combat terrorism and extremism. The two sides also stressed the importance of cooperation in securing the borders between the two brotherly countries.
• The two sides affirmed the continuation of cooperation in the field of transport and logistics services between the two countries, and facilitating the movement of land, air and sea ports, travel procedures and the transportation of goods between the two countries, as direct flights between the two countries were resumed, via carriers via the Saudi national airline.
• Intensifying cooperation and exchanging views on matters and issues of concern to the two countries on the regional and international arenas, in a way that contributes to supporting and strengthening security and stability in the region and the world, and the need to remove the region from tensions and seek to establish sustainable security. They agreed to continue communication and exchange visits to complement bilateral consultations at the highest levels, to expand and follow up areas of joint cooperation in a way that serves the interests of the two brotherly countries.
• Enhancing coordination in the field of mutual support and advocacy within the framework of multilateral diplomacy, especially for positions and jobs in international organizations.
• Intensifying scientific, knowledge and educational cooperation between the two countries, maximizing the benefit from previous programs and initiatives, establishing academic and research partnerships between universities and higher education institutions in the two countries, as well as building (20) educational buildings in the Republic of Iraq, with the Iraqi side ready to overcome all direct obstacles to the implementation of the project. The secretariat of the council was assigned from both sides to follow up the implementation in coordination with the relevant authorities
• The Republic of Iraq has appreciated the gift of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud - may God protect him - to the brotherly Iraqi people regarding the establishment of a sports stadium and the Kingdom's support for the Iraqi sports sector, where the two parties agreed to enhance cooperation in the sports field through the establishment of various sporting events between the two countries, On the other hand, the Saudi side praised Iraq's hosting of the Gulf 25 and the resulting increase in cohesion among the peoples of the region.
• The two parties agreed to set a vision and a mechanism for cooperation and investment encouragement in the field of tourism between the two countries.
• The two sides agreed on the joint work plan for the years 2023-2024 AD, and the start of work on it through the sub-committees emanating from the Council, and its direct follow-up by the two secretariats of the Council.
• The two sides also stressed the importance of the Council's secretariats following up on the implementation of the results of the meetings of the previous sessions of the Council and its sub-committees, and the agreements resulting therefrom, and completing the formal procedures for the ratification and entry into force of those agreements, which will contribute to expanding and strengthening the scope of cooperation in a number of areas.
• A number of memorandums of understanding were signed between the two sides in the fields of tourism, culture, media and news.
At the end of the meeting, the council presidents, from the Saudi and Iraqi sides, stressed the importance of strengthening the relations that bind the two brotherly peoples in all fields, and moving them forward to match the aspirations and visions of the leaderships of the two countries in order to achieve common interests, enhance the security and stability of the region, and push the wheel of development for the benefit of the two brotherly peoples. and achieve their well-being.
Jeddah-Saudi Arabia
5 Dhu al-Qi`dah 1444 AH corresponding to May 25, 2023 AD
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political
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Jeddah - conscious
The Iraqi News Agency (INA) publishes the final statement of the fifth session of the Iraqi-Saudi Coordination Council, which was held today, Thursday, in the Saudi city of Jeddah.
Below is the text of the statement:
(Draft joint final statement - intended to be announced)In continuation of the joint bilateral cooperation between the Kingdom of Saudi Arabia and the Republic of Iraq, and based on the historical fraternal ties between the two brotherly countries, and in implementation of the directives of His Royal Highness, Crown Prince and Prime Minister Prince Muhammad bin Salman bin Abdulaziz Al Saud - may God protect him - and His Excellency the Prime Minister of the Republic of Iraq, Mr. Muhammad Shayaa Al-Sudani, and the importance of bilateral work in strengthening these ties and the desire to consolidate the bonds of fruitful cooperation in all fields.
The work of the fifth session of the Saudi-Iraqi Coordination Council was held on Thursday, Dhu al-Qi`dah 5, 1444 AH, corresponding to May 25, 2023 AD, in Jeddah Governorate, Kingdom of Saudi Arabia, in the presence of Their Highnesses and Excellencies members of the Council and heads of sub-committees from the Saudi and Iraqi sides, where the Saudi side was headed by His Excellency Dr. Majed Bin Abdullah Al-Qasabi, Minister of Commerce, Chairman of the Council from the Saudi side, and the Iraqi side was chaired by His Excellency Dr. Muhammad Ali Tamim, Deputy Prime Minister and Minister of Planning, Chairman of the Council from the Iraqi side.
The following is the text of the joint statement issued by the meeting:
Proceeding from the deep-rooted and historical fraternal bonds and bonds that unite the Kingdom of Saudi Arabia and the Republic of Iraq, and between their two brotherly peoples, and in order to strengthen the distinguished relations between them, today, Thursday, Dhu al-Qi`dah 5, 1444 AH, corresponding to May 25, 2023, the work of the fifth session of the Saudi-Iraqi Coordination Council was held in Jeddah Governorate. in the Kingdom of Saudi Arabia.
The Saudi and Iraqi sides affirmed their determination to strengthen relations between the two brotherly countries in all fields, and they reviewed the work of the fifth session of the Saudi-Iraqi Coordination Council and the agreements and memorandums of understanding that resulted from the previous four sessions aimed at strengthening the brotherly relations between the two brotherly countries, and they approved the results of the work of the Council in its fifth session. And the findings of the sub-committees (Energy and Transformational Industries Committee, Political, Security and Military Committee, Cultural, Media and Islamic Affairs Committee, Agricultural Committee, Economic, Trade, Investment, Development and Relief Committee, Education, Youth and Sports Committee, Transportation, Border Crossings and Ports Committee, Finance and Banking Committee), which included the most important :
• Emphasizing the importance of expanding and strengthening the horizons of bilateral cooperation to serve the interests of the two countries and the two brotherly peoples in various fields, especially political, security, trade, investment, cultural, educational, tourism and energy, and building on the positive results achieved in the mutual visits between officials of the two countries during the last period.
• The two countries praised the successful efforts of the OPEC Plus countries in promoting the stability of the global oil market. They also stressed the importance of continuing this cooperation and the need for all participating countries to adhere to the OPEC Plus agreement, in a way that serves the interests of producers and consumers and supports the growth of the global economy. The two sides also valued the progress in the work of the joint team to implement the Saudi-Iraqi electrical interconnection project with a capacity of 1,000 megawatts in accordance with the principles of the agreement signed between the two sides. Requirements for the implementation of renewable energy projects with a capacity of 1000 megawatts, and the continuation of consultations and meetings for the implementation of the Nebras Al Sharq petrochemical project.
The two sides affirmed their determination to raise the pace of economic and investment cooperation to advance investment relations to the level of promising investment opportunities and projects owned by the two countries, through concerted efforts to create a fertile and stimulating investment environment and create appropriate investment conditions, intensifying visits of mutual delegations, and holding joint investment activities periodically to discuss Exploring promising investment opportunities and stimulating the government and private sectors to reach qualitative trade and investment exchanges in a way that achieves the aspirations of the two peoples by launching a set of joint initiatives and supporting companies to enter government competitions. The brotherly Republic of Iraq has also renewed its call for Saudi companies to invest in promising opportunities in Iraq and in
various fields.
The meeting witnessed a discussion of the establishment of the Saudi-Iraqi Investment Company wholly owned by the Public Investment Fund, opportunities for building investment partnerships in Iraq, and a review of various investment opportunities in a number of sectors.
The two sides praised the growth of the volume of intra-trade between the two brotherly countries, as the volume of trade exchange reached (1.5) billion dollars for the year 2022 AD, an increase of (50%) compared to the year 2021 AD, which reflects the depth and sustainability of economic relations between the Kingdom of Saudi Arabia and the Republic of Iraq, and the two sides agreed to Continuing to enhance trade exchange between the two countries, benefiting from the opening of the new port of Arar, and accelerating the opening of the Jumaimah border crossing. The Kingdom praised the economic reforms pursued by the Government of the Republic of Iraq, and the two sides affirmed their keenness to enhance joint economic cooperation that aims to achieve stability and economic prosperity for the two brotherly peoples and enhance their ability to overcome the challenges facing them. imposed by the recent international crises.
• The two sides praised the role of the Saudi Commercial Attaché and the Saudi Companies Center in Baghdad, which contributed to the development of intra-trade between the two countries and investments by enabling Saudi companies to open branches in the Republic of Iraq and facilitating access to investment opportunities and projects.
• What has been accomplished in the financial sector was also praised, as the branch of the National Bank of Iraq will contribute to facilitating the intra-trade process between the two countries, as well as the branch of the Iraqi Trade Bank when it starts its work, and the announcement of the Arab National Bank in the Kingdom of Saudi Arabia with the strategic partner "Arab Bank" to establish " Arab Bank of Iraq", and the promotion of investments between the two sides is supported by the double taxation avoidance agreement, which is expected to enter into force soon. On cooperation between the two central banks in the field of financial technologies, in addition to the existing coordination between other financial agencies such as ministries of finance and financial market authorities.
• The two sides stressed the importance of discussing prospects for cooperation and opportunities for integration and striving to build strategic partnerships in the special economic zones between the Kingdom of Saudi Arabia and the Republic of Iraq by working to establish a special economic zone on the borders of the two countries.
• The Republic of Iraq has appreciated the Kingdom of Saudi Arabia's announcement of an amount of one and a half billion dollars for the reconstruction of Iraq at the Kuwait Conference for the Reconstruction of Iraq, which was held during the period 12-14 February 2018 AD, and its pledges and contribution to it. The two sides urge the existing development projects presented by the Government of the Kingdom of Saudi Arabia through the Saudi Fund for Development Which aims to contribute to achieving sustainable development in the Republic of Iraq, and they also discussed the challenges facing the course of development work, and how to overcome them to achieve the development goals of growth and prosperity, and praised the launched development projects funded by the Saudi Fund for Development.
• The two sides reviewed the effective role played by the Saudi-Iraqi Business Council in developing economic relations and cooperation between the business sectors of the two sides and supporting small and medium enterprises, and stressed the importance of continuing those efforts in coordination with government agencies in both countries to overcome any challenges facing the business community.
• Continued joint cooperation in confronting the threat of extremism and terrorism as an existential threat to countries in the region and the world. They agreed to continue supporting Iraq's efforts in cooperation with the international coalition to combat terrorism and extremism. The two sides also stressed the importance of cooperation in securing the borders between the two brotherly countries.
• The two sides affirmed the continuation of cooperation in the field of transport and logistics services between the two countries, and facilitating the movement of land, air and sea ports, travel procedures and the transportation of goods between the two countries, as direct flights between the two countries were resumed, via carriers via the Saudi national airline.
• Intensifying cooperation and exchanging views on matters and issues of concern to the two countries on the regional and international arenas, in a way that contributes to supporting and strengthening security and stability in the region and the world, and the need to remove the region from tensions and seek to establish sustainable security. They agreed to continue communication and exchange visits to complement bilateral consultations at the highest levels, to expand and follow up areas of joint cooperation in a way that serves the interests of the two brotherly countries.
• Enhancing coordination in the field of mutual support and advocacy within the framework of multilateral diplomacy, especially for positions and jobs in international organizations.
• Intensifying scientific, knowledge and educational cooperation between the two countries, maximizing the benefit from previous programs and initiatives, establishing academic and research partnerships between universities and higher education institutions in the two countries, as well as building (20) educational buildings in the Republic of Iraq, with the Iraqi side ready to overcome all direct obstacles to the implementation of the project. The secretariat of the council was assigned from both sides to follow up the implementation in coordination with the relevant authorities
• The Republic of Iraq has appreciated the gift of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud - may God protect him - to the brotherly Iraqi people regarding the establishment of a sports stadium and the Kingdom's support for the Iraqi sports sector, where the two parties agreed to enhance cooperation in the sports field through the establishment of various sporting events between the two countries, On the other hand, the Saudi side praised Iraq's hosting of the Gulf 25 and the resulting increase in cohesion among the peoples of the region.
• The two parties agreed to set a vision and a mechanism for cooperation and investment encouragement in the field of tourism between the two countries.
• The two sides agreed on the joint work plan for the years 2023-2024 AD, and the start of work on it through the sub-committees emanating from the Council, and its direct follow-up by the two secretariats of the Council.
• The two sides also stressed the importance of the Council's secretariats following up on the implementation of the results of the meetings of the previous sessions of the Council and its sub-committees, and the agreements resulting therefrom, and completing the formal procedures for the ratification and entry into force of those agreements, which will contribute to expanding and strengthening the scope of cooperation in a number of areas.
• A number of memorandums of understanding were signed between the two sides in the fields of tourism, culture, media and news.
At the end of the meeting, the council presidents, from the Saudi and Iraqi sides, stressed the importance of strengthening the relations that bind the two brotherly peoples in all fields, and moving them forward to match the aspirations and visions of the leaderships of the two countries in order to achieve common interests, enhance the security and stability of the region, and push the wheel of development for the benefit of the two brotherly peoples. and achieve their well-being.
Jeddah-Saudi Arabia
5 Dhu al-Qi`dah 1444 AH corresponding to May 25, 2023 AD
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