Historic Agreements at the End of Iraqi-Saudi Coordination Council Meeting

Historic Agreements at the End of Iraqi-Saudi Coordination Council Meeting

The General Secretariat of the Iraqi Council of Ministers issued a statement that a number of agreements have signed at the end of Iraqi-Saudi Coordinating Council meeting. These agreements were related to investment, banking, trade, security, and tourism. Saudi Arabia has delivered a list of 891 items of its products amid of reducing or exempting from customs duties. The Secretariat said in a statement that they also offered a proposal to open a free zone in Arar port after opening during the next 6-months.

Iraqi-Saudi Coordination Council Meeting

Both sides discussed the development of financial relations and approved Saudi banks to open their branches in Iraq. It is noteworthy that Iraq has planned to open a branch of Iraqi Trade Bank in Riyadh during the first half of next month. They also discussed the export of Iraqi dates, wheat & other national products, integration of food security between both countries, investment in poultry, and agricultural reform.

The Iraqi ministries of above-mentioned fields have completed agreements to invest the expertise of Saudi Arabia in scientific and exchange in the fields of engineering, science, quality, and talented people discovery. They stressed on organizing corresponding visits to students and offering scholarships regarding the competencies of science, energy, and other essential disciplines. The Iraqi-Saudi Coordination Council committees have agreed to open the doors in the field of investments. Most important investment sectors include electricity, oil and gas, industry, manufacturing, production of electric and renewable energy, and investment in phosphate & petrochemicals.

The Secretariat said in a statement that the major decisions of the Council were regarding the agreement to develop a plan for a project to link the railways between both countries and exchange studies on the development of ports and air transport. Both sides were concerned with Hajj and Umrah and religious visits in Iraqi cities within the tourism sector and religious visits. The statement also confirmed the rehabilitation of the old pilgrimage route between Kufa and the Holy Land. It would increase the share of Iraqis wishing to perform annual Hajj, Preservation of monuments, manuscripts, and museums.

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