Monday, 05 June 2023 07:09 GMT

Saudi-Iraqi Coordination Council Affirms Bolstering Relations Between Two Nations

(MENAFN- Kuwait News Agency (KUNA)) RIYADH, May 25 (KUNA) -- Saudi-Iraqi coordination council on Thursday affirmed intent on bolstering relations between the two nations across various fields.
Concluding statement of the council's fifths session mentioned that heading the Saudi side was Minister of Commerce Dr. Majed Al-Qasabi whereas Iraqi side was headed by Deputy Prime Minister and Minister of Planning Dr. Mohammad Tamim.
The two commended the successful efforts of OPEC+ in strengthening the stability of the oil market, asserting importance of furthering such cooperation for the benefit of both producers and consumers.
The statement also touched on the efforts of the joint team concerned with establishing the 1,000 megawatt Saudi-Iraqi electric grid.
Discussions on establishing a Saudi-Iraqi investment corporate owned entirely by public investments fund in Iraq also took place in an effort to push pace of investments, further relations, create a fruitful environment and explore opportunities.
Saudi Arabia commended the steps the Iraqi government took towards economic reformations, affirming that both nations are keen on economic welfare of their people.
The two countries, seeking broadening cooperation horizons and initiating strategic partnerships, are working on establishing economic zone located on their borderlines.
Iraq, on its part, hailed Saudi's grant of USD 1.5 billion during Kuwait-based rebuilding Iraq conferenced held back in 2018.
The two also discussed countering terrorism, intensifying cooperation in field of transport and logistic services as well as the exchange of perspectives on matters concerning both countries on regional and international fronts in pursuit of sustainable security. (end)


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