In an interview with Al-Arabiya on the sidelines of the Saudi-Iraqi Business Forum in Riyadh, Ajlan Al-Ajlan, head of the Federation of Saudi Chambers, expressed his optimism on the growing trade and investment relations between the two countries.
Al-Ajlan stressed the importance of the meeting of 300 Saudi and Iraqi businessmen, reflecting the desire of the leadership of the two countries to allow bilateral relations between private sector institutions, highlighting the increase in trade between the two. countries by 15% last year, in the interest of their peoples.
Al-Ajlan explained that there are indications for an electrical connection project between the two sides, in addition to the need for new land outlets between the two countries.
For his part, Hamid Al-Ghazi, secretary general of the Iraqi Council of Ministers, confirmed the tendency of the Iraqi parliament to approve the agreement to protect the Saudi investor as an additional agreement in order to strengthen investment confidence. in Iraq.
In turn, the Governor of the General Foreign Trade Authority stressed the importance of relations and common interests between Saudi Arabia and Iraq, especially in the trade and investment field.
commercial exchange
Knowing that the trade relations between the two countries have reached unprecedented levels, as the volume of trade in the period between 2016 and 2021 reached almost 20 billion riyals.
The forum, organized by the Federation of Saudi Chambers of Commerce, received wide participation from Saudi and Iraqi ministers, officials and businessmen.
Forum attendees looked at both investment opportunities in Saudi Arabia that in Iraq in economic sectors and also witnessed the signing of a series of agreements and memoranda of understanding between the Saudi and Iraqi governments and agencies private.
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