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[size=36]Its trade exchange increased three times .. So Saudi Arabia invested in demonstrations in Iraq![/size]
Baghdad - Mawazine News
The Saudi Cabinet approved memoranda of understanding with the Iraqi side in the areas of transport, communications and trade.
The Saudi News Agency mentioned the details of the session, which was held by the Council of Ministers and chaired by the Saudi monarch, where he announced the Kingdom's approval of a memorandum of understanding between the government of the Kingdom of Saudi Arabia and the government of the Republic of Iraq for economic cooperation.
Has Iraq moved to do business with Saudi Arabia? Can Saudi Arabia fill the economic void in Iraq because of the sanctions on Iran?
The Russian Sputnik Agency quoted a spokesman for the Salvation and Development Front, the economic expert, Yahya Al-Sultani, as saying that "the issue of approval of the Memorandum of Understanding between the Iraqi and Saudi sides coincided with the demonstrations in Iraq, which is something that has served the Saudi side, especially since the trade exchange between Saudi Arabia and Iraq were up to 400 million dollars, and during the period of the demonstrations it rose three times, as the trade exchange between the two countries reached one billion and three hundred million dollars.
Al-Sultani added, "The issue of demonstrations taking place in Iraq is one of the reasons that led to the expansion of commercial activity between Iraq and Saudi Arabia, as the scarcity of Iranian goods due to poor demand for them, in addition to the quality of Saudi goods, prompted the Iraqi citizen to go towards Saudi goods." .
He stressed, "The Iraqi merchants are heading towards Saudi Arabia, because the Iranian goods are experiencing stagnation and reluctance from their consumption, so the Saudi side took advantage of this and activated its commercial movement with Iraq, through memoranda of understanding, in order to bridge the shortfall that occurs in the Iraqi market, due to the lack of import of goods." Iranian. "
He pointed out, "The Memorandum of Understanding signed between Iraq and Saudi Arabia includes land and sea transport issues, in addition to merchandise trade, as Saudi Arabia will transport goods not only to Iraq, but also to Turkey and Central Asia through Iraqi lands, which is a strategic idea that the Kingdom is carrying out, in order to achieve economic stability.
To her, and to implement her vision for 2030, which was issued in order to achieve this 14 decrees, including the Memorandum of Understanding between the Iraqi and Saudi ministries of transport. ”Ended 6/29 n
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