Iraq and Saudi Arabia discuss the formation of a joint economic coordination council


Minister of Industry and Minerals Mohammed Shiaa al-Sudani discussed on Wednesday with the Saudi ambassador to Iraq Abdulaziz bin Khalid al-Shammari the formation of a joint economic coordination council between the two countries.
A statement by the Information and Public Relations Center at the Ministry of Industry and Minerals said that “Minister Mohammed Shiaa al-Sudani met on Wednesday with Saudi Ambassador to Iraq Abdulaziz bin Khalid al-Shammari,” noting that “the two sides discussed ways to expand the horizons of industrial cooperation between the two countries, Topics and issues of common interest between the two countries. ”
“The ministry is keen to increase cooperation and open new horizons and channels of communication between Iraq and Saudi Arabia to improve the level of relations between the two countries in a way that achieves the common interests of their peoples,” the minister said.
Al-Sudani pointed out that “Iraq and Saudi Arabia have a heavy weight in the region,” stressing that “the ministry’s approach to opening up to the private sector for the purpose of concluding partnership agreements under the Companies Law, which allowed government companies to contract with Arab and foreign companies in accordance with the instructions in line with the general government direction to create the climate Appropriate to attract foreign investment, especially investors from Saudi businessmen to achieve economic development in the country. ”
Al-Sudani said that “discussions were held with SABIC to enter into investment in the field of phosphate fertilizers and petrochemicals, in addition to mineral investment, because of Iraq’s possession of minerals. The largest in the region “.
The statement pointed out that “the meeting witnessed the launch and discussion of the formation of a joint economic coordination council covering all industrial fields, both public and private, to allow Saudi businessmen to invest in Iraq.”
“It is hoped that the Council will include in its membership representatives of chambers of commerce in both countries.”
For his part, the Saudi ambassador said according to the statement, “his country’s desire to cooperate and develop bilateral relations with Iraq in various fields and work alongside Iraqi companies to contribute to the development of the industrial sector through partnership or investment.”
The ambassador expressed “the desire of Saudi businessmen to establish new projects in Iraq,” expressing the hope that “this meeting will contribute to the development of joint action and enhance the future of bilateral relations between the two countries.”

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  1. […] could herald a new age for cooperation. Planned investments in Iraq’s consumer markets and natural resources are a promising sign of improved relations. Such large projects, which are desperately needed in […]

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