H.E. The Minister of Commerce & Investment Discusses with the Iraqi Prime Minister the Development of Trade and Investment Relations

23 Aug 2017
H.E. the Minister’s Visit Includes Government Delegation and Businessmen to Promote the Saudi-Iraqi Cooperation

H.E. the Minister of Commerce and Investment, Chairman of the Saudi-Iraqi Coordination Council, Dr. Majid bin Abdullah Al-Qasabi discussed with the Iraqi Prime Minister Haidar al-Abadi, during their meeting on Tuesday in Baghdad, ways to boost and enhance the bilateral relations in the economic, trade, agricultural and investment fields. 

His Excellency the Minister of Commerce and Investment arrived in Iraq on an official visit, heading a high-level delegation of government officials and businessmen to enhance and develop the strategic and economic relations with the Iraqi side, also to discuss promising investment opportunities and distinctive partnerships that may serve the interests of the two parties, as per the directives of the two countries leadership. This visit aims to enhance the trade exchange and create business opportunities that may serve the development plans for the Iraqi side, and which may conform to the priorities of the Kingdom in all sectors, foremost of which are the industrial, agricultural, education, health and other sectors.

H.E. Dr. Al-Qasabi confirmed that this visit comes after the opening of the border ports between the two countries, stressing the Kingdom's desire to start the commerce, investment and trade exchanges with the Iraqi side, also to strengthen the brotherly ties between the two brotherly countries. H.E. Dr. Al Qasabi referred to the royal directives to create the Saudi-Iraqi Coordination Council that may enhance the trade exchange, business opportunities and bilateral cooperation, also to promote trade relations between the two countries. H.E. Dr. Al Qasabi stressed the Kingdom's keen desire to open all areas of cooperation with Iraq to serve the interests of both countries.

Both the Saudi and Iraqi sides discussed the Kingdom's participation in the International Economic Forum, to be held in Baghdad, as well as to work on setting up the Saudi-Iraqi Business Council during the coming period, also holding the Saudi-Iraqi Business Opportunities Forum in the Kingdom, to be attended by businessmen from both sides early next year. 

This is the first visit of H.E. the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al-Qasabi, to Iraq, and it comes after a week from the issuance of the royal directives to establish the Saudi-Iraqi Coordinating Council. This visit is considered a kind of confirmation of the Kingdom's determination to open areas of cooperation with the Iraqi side, as well as a chance to discuss investment opportunities and to have constructive communication with the government agencies and the private sector, besides developing a clear implementation plan for the next phase.

It is noteworthy that the cabinet’s decision to establish the Saudi-Iraqi Coordination Council aims to strengthen the communication between the two countries at the strategic level, also to deepen the mutual political trust, and to open new horizons of cooperation in various fields including: economic, development, security, investment, tourism, cultural and media, as well as promote joint cooperation between the two sides, related to important regional and global affairs, besides Protecting the common interests and developing the partnership among the private sectors in the two countries, also giving the chance for businessmen to know about trade and investment opportunities and to adopt the effective means that may help them exploit such opportunities through direct and indirect government agencies. The Saudi-Iraqi Coordination Council aims as well to encourage the exchange of technical expertise among the concerned authorities through the transfer and promotion of technology, as well as through the cooperation in the field of scientific research, exchange of visits, participation in training programs, developing the border areas between the Kingdom and Iraq, benefit from the economic cities available to be a major agricultural and industrial source for Iraq, so that to enjoys stability and to be an attractive environment for the private sector and investors

Last Modified 26 Dec 2018