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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Saudi Arabia intends to implement mechanisms to facilitate the travel of Saudi businessmen to Iraq

    Rocky
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    Saudi Arabia intends to implement mechanisms to facilitate the travel of Saudi businessmen to Iraq Empty Saudi Arabia intends to implement mechanisms to facilitate the travel of Saudi businessmen to Iraq

    Post by Rocky Thu Nov 02, 2023 3:18 pm

    Saudi Arabia intends to implement mechanisms to facilitate the travel of Saudi businessmen to Iraq

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    “Jdeidah Arar” land port between Iraq and Saudi Arabia. "The Middle East"



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    Economy News - Baghdad
    Asharq Al-Awsat newspaper reported that the Saudi government has automated a mechanism for travel permits for Saudi businessmen to Iraq, and launched the electronic service through the Ministry of Commerce website, in a step to explore commercial and investment opportunities and participate in forums, exhibitions, and forums in Baghdad .
    Saudi non-oil exports to Iraq during the past five years amounted to 14.8 billion riyals ($3.9 billion), and building materials activities occupied the highest exporting sectors with a value of 4.4 billion riyals ($1.1 billion), followed by food products with 4 billion riyals ($1 billion). While the two countries seek to expand the volume of trade exchange at the current stage .
    According to the information, the Saudi General Authority for Foreign Trade informed all local companies and institutions of the completion of the automation of the mechanism for travel permits for Saudi businessmen to Iraq and the launch of the service, taking into account the demands of the private sector to travel to Iraq, explore commercial and investment opportunities, and participate in economic events in the country .
    According to the newspaper, the Federation of Saudi Chambers informed all companies and institutions that work had been done on a matrix related to incoming requests that includes the status of the applicant for the required documents, in order to facilitate the process of issuing travel permits to Iraq .
    The two countries are currently working to accelerate the volume of investments and trade to a large scale, as economic relations between the Kingdom and Iraq witnessed remarkable growth following the establishment of the Saudi-Iraqi Coordination Council in 2017, which contributed to increasing trade exchange and providing investment opportunities in all fields, including trade. Agricultural and industrial .
    The Council worked to remove all obstacles and encouraged investment in all development, trade and investment fields available in the two countries, and raised the level of trade between them .
    The Saudi Export Development Authority organizes bilateral meetings between businessmen from the two countries, the most recent of which was holding meetings for the business sector on the sidelines of the Saudi-Iraqi Economic Forum, which was held last May in Jeddah (western Saudi Arabia), with the participation of more than 190 companies from both sides in several sectors. Such as petrochemicals, packaging, building materials, food, and the medical sector .
    Through its participation in the recent Saudi-Iraqi Economic Forum and its organization of bilateral meetings, “Saudi Exports” seeks to expand the base of the spread of Saudi products and enhance its regional and international presence, in addition to raising the value of the Kingdom’s non-oil exports to promising regional markets, especially Iraq, in light of the positive indicators. And increasing commercial traffic, and in implementation of the government’s directives to support and develop relations with Baghdad, consolidate fraternal and historical ties, and contribute to raising the volume of trade exchange between them .
    Iraq was the guest of honor in the second edition of the “Made in Saudi Arabia” exhibition, which was held in Riyadh in mid-October, with the participation of more than 24 Iraqi companies from multiple sectors in an exhibition that included more than 100 national companies .
    The choice of Iraq as the guest of honor of the exhibition in its current edition came as an extension of the strong economic relations between the two countries. This represents an important foundation upon which many strategic partnerships in the economic and commercial aspects are built, which will be strengthened by the presence of an elite group of national companies participating in the exhibition, which is an opportunity to attract potential and international buyers and representatives. Sectors .
    The “Jdeidah Arar” land port in the northern Saudi border region, which was opened two years ago, is one of the gateways to commercial movement between the two countries .
    A study conducted by the Chamber of Commerce and Industry in the Northern Border Region said that trade movement between the two countries witnessed growth last March to about 381 million riyals ($101.6 million), after it was about 305 million riyals ($81.3 million) in January 2023 .



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    Added 11/02/2023 - 7:31 PM
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