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Fri Sep 13, 2019 11:53 am
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Saleh: Agreements with the Saudi side will raise the rate of economic growth
Economy News Baghdad
The financial adviser to the Prime Minister, the appearance of Mohammed Saleh, that the agreements and memorandums of understanding signed by Iraq with Saudi Arabia will move the economy and lift the economic growth stopped at 7%.
A Saudi delegation consisting of more than 100 personalities, including nine ministers headed by Trade and Investment Minister Majid al-Kasabi, arrived in Baghdad on Wednesday to resume the second session of the Saudi-Iraqi Coordinating Council and activate Saudi Arabia's role in investment, reconstruction and cooperation in various fields.
Saleh said in a press statement quoted by Al-Mada newspaper that "there is a great Saudi desire to invest in Iraq at high and large levels, which is matched by an Iraqi desire to establish parallel relations with all neighboring countries," stressing that "the Supreme Coordination Council between the two sides near the points of view, Advanced stages of implementation mechanism ".
He added that "the negotiations between the two sides allowed for the first time the Iraqi Trade Bank ( TBI ) to open a branch in the Saudi capital Riyadh," adding that "this section will be important for financing and financial transfer and everything related to trade and investment issues between Saudi Arabia and Iraq."
He pointed out that "Saudi Arabia has reached through its discussions with the Iraqi government to an agreement to invest more than (200) investment project in all Iraqi provinces," believing that "these investment projects need funds in the first stages only ranging from ten to fifteen billion dollars "He said.
He pointed out that "these investment opportunities include various agricultural, industrial, commercial and economic projects and the reconstruction of infrastructure and development of the electrical and gas system."
He added that "the attempts between the two parties on linking Iraq to the electrical system in the Gulf to compensate for the shortage in the field of electric power," stressing that "the desire of Saudi Arabia is based on economic relations with Iraq through the signing of new understandings and agreements to regulate the work."
Saleh believes that "the number of agreements that will be signed between Iraq and Saudi Arabia in the coming days may exceed twenty agreements and memorandums of understanding in various fields related to agriculture, industry, trade and pilgrimage and open the perpetrators of Arar and Gemayma," pointing out that "these agreements will move in certain percentages Iraqi economic growth stopped at 7 % ".
He continued that "the investment process will address the issue of unemployment by relying on the hands of Iraq in the operation of various investment projects."
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