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Expectations of the revival of economic and trade cooperation between Saudi Arabia and Iraq

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Expectations of the revival of economic and trade cooperation between Saudi Arabia and Iraq

Post  claud39 on Mon Nov 19, 2018 9:00 am

http://www.uabonline.org/en/news/arabicnews/15781608160215931575157815761575160615781593157515/57748/1



Expectations of the revival of economic and trade cooperation between Saudi Arabia and Iraq




19/11/2018

















The Council of Saudi Chambers expected to witness the next stage, increasing the flow of Saudi products and products to the Iraqi market, in light of the desire of Iraqi society in the Saudi product and the readiness of Saudi companies to enter the market. 
Dr. Sami al-Obeidi, chairman of the Council of Saudi Chambers, said that the next phase will witness more activity and greater cooperation in the field of trade exchange between the two countries, in addition to opening the field of joint investments of companies and businessmen from both sides. 
Al-Obeidi praised in an interview with Asharq Al-Awsat the distinguished Saudi-Iraqi relations, especially in its economic aspect, based on the strong ties and relations between the two countries, noting that the great potential enjoyed by the countries puts them in front of a historic opportunity to build an effective partnership to achieve common aspirations. What binds the two countries is not just neighborliness and common interests, but ties of fraternity, history and one destiny.
He stressed that the visit of Iraqi President Barham Salih to Saudi Arabia yesterday confirms the development of relations and their growth significantly and steadily, thanks to the efforts of the two leaderships, pointing out that this visit comes within the framework of the constructive relations between Riyadh and Baghdad and cooperation and joint coordination to strengthen them in many fields. 
Al-Obeidi said that the visit will contribute to the development of economic cooperation relations and the promotion of trade exchange to advanced levels, especially in terms of increasing the flow of Saudi goods and products to the Iraqi market, in light of the great desire of the Iraqi society in the Saudi product and the readiness of Saudi companies to enter the Iraqi market. 
Al-Obeidi said that aspects of the development of economic relations between Riyadh and Baghdad would contribute to increasing Saudi exports to Iraq, which will be an important factor for Iraq's large market.
A number of agreements have been signed to strengthen economic cooperation between Saudi Arabia and Iraq, including the opening of the border crossing between the two countries, where 85 per cent of Saudi exports are made through land transport through Kuwait and Jordan, 15 per cent Made by shipping. 
Saudi exports to Iraq in 2016 amounted to 2.3 billion riyals ($ 613.3 million). One of the most important products to export to the Iraqi market is foodstuffs, building materials, packaging, pharmaceuticals, precious metals, jewelery and chemicals.

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