His Excellency the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qassabi, hails the issuance of the cabinet decision to establish the Saudi-Iraqi Coordination Council, which enhances the opportunities for trade exchange and joint cooperation to promote relations between the two countries. H.E. confirms that this decision reflects the Kingdom’s desire and keenness to open all areas of cooperation with Iraq to serve the common interests of the two brotherly countries.
H.E. Dr. Al-Qasabi, who heads the Saudi-Iraqi coordinating council with members of a number of Ministers from the relevant authorities, stressed that the Iraqi and Saudi people are from one social fabric, and they have common cultural heritage, and they are intertwined with each other in blood, families and neighborhood.
H.E. the Minister pointed out that the royal directives for making Their Excellencies the Ministers members of this Council reflects the importance of strengthening the relations between our two friendly countries
The Saudi-Iraqi Council aims to enhance communication between the two countries at the strategic level, also to deepen mutual political trust and to open up new horizons of cooperation in various fields, including: economy, development, security, investment, tourism, culture and media, as well as enhancing joint cooperation between the two sides in current international and regional affairs, also safeguarding common interests and developing partnership among the private sectors In the two countries, in addition to giving chances to businessmen to know about trade and investment opportunities and to adopt active means that contribute to helping such sectors to exploit the trade opportunities. These efforts include direct and indirect government branches. This decision would encourage the exchange of technical expertise among the concerned authorities through the transfer and promotion of technology and cooperation in the field of scientific research and exchange of visits, as well as participation in training programs, also developing the border areas between the Kingdom and Iraq, and benefit from the economic cities available to be a major agricultural and industrial source for Iraq to enjoy stability, and to be an attractive environment for the private sectors and investors in both sides.
H.E. the Minister pointed out that the coming era of the economic and trade relations between the Kingdom and Iraq will witness great cooperation that may contribute to increasing trade exchange and provide investment opportunities for both sides in all fields, foremost of which are: commercial, agricultural and industrial fields. H.E. added that the Saudi-Iraqi Coordination Council will work to remove all barriers and would encourage investment.
H.E. Dr. Al-Qasabi said that the meetings held during the last period between the officials of the two countries reflect the serious desire of both sides to enhance cooperation. H.E. pointed out that the Iraqi side expressed its keenness to provide a safe investment environment and to give more incentives for Saudi investments in Iraq. On the other hand, the Kingdom is keen to provide support and facilitate all procedures for foreign investment through incentive laws and by providing an attractive investment environment while guaranteeing the realization of the Kingdom's economic interests, H.E. added that this cooperation will contribute to the establishment of joint ventures between our two brotherly countries.