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Saudi oil minister from Baghdad: The volume of trade exchange with Iraq amounted to 170 billion riyals

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Saudi oil minister from Baghdad: The volume of trade exchange with Iraq amounted to 170 billion riyals Empty Saudi oil minister from Baghdad: The volume of trade exchange with Iraq amounted to 170 billion riyals

Post by RamblerNash Sun Oct 22, 2017 1:09 am

Saudi oil minister from Baghdad: The volume of trade exchange with Iraq amounted to 170 billion riyals

Saudi oil minister from Baghdad: The volume of trade exchange with Iraq amounted to 170 billion riyals NB-219289-636441774563645572

Saturday 21 October 2017 12:00

Alsumaria News / Baghdad ,
said Saudi Oil Minister Khaled Al - Faleh, Saturday, that the volume of trade exchange with Iraq has reached 170 billion riyals, while noting that the cooperation between the two countries could cover several areas allow doubling the size of the exchange.

Al-Falih said during the opening of the 44th Baghdad International Fair, which was attended by Alsumaria News that "within the focus of the Kingdom of Saudi Arabia is the development and diversification of investments and exports and development of Saudi products to match the quality and prices of similar foreign goods and support of national companies," noting that "the volume of trade exchange between Iraq Saudi Arabia reached 170 billion riyals, where the Saudi exports to Iraq included minerals, electronics, food products and other products.

"Iraq and Saudi Arabia are bound by strong historical and cultural ties that are not ending. Today, both countries are moving towards a promising future to build national capacities, invest resources and establish bilateral, commercial, industrial and other partnerships to build a strong and diversified economy for both countries," he said.

"The cooperation between the two countries and the strengthening of relations proved to be very good for both of them, especially coordination and cooperation in the oil market, which led to improvement and stability as a result of cooperation within the OPEC and cooperation of other oil producing countries with it. The full cooperation of Iraq will be enhanced for efforts," he said. "Cooperation between the two countries can include several areas that allow to double the volume of trade between the two countries, especially the services of the oil and gas sector in addition to the transfer of electricity and provide financing solutions for various projects in Iraq, whether governmental or private sector banks"

"The participation of 60 Saudi companies from the private sector in the exhibition is evidence of the Kingdom's keenness and the keenness of the private sector in the Kingdom to support cooperation with Iraq," Al-Falih said. "The Baghdad exhibition is one of the signs of Iraq's new start to prosperity and growth that strengthens its relations with the world, "

The Ministry of Commerce announced on Saturday the launch of the Baghdad International Fair in its 44th session from 21 to 30 October with local, Arab and international participation.

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