Iraq gives priority to Saudi Arabia to trade cooperation

In the context of the detente realized during the Beirut's summit, Iraq has for the first time offered a licensing for Saudi investors to establish a project for processing irrigation systems, giving Saudi Arabia the priority to trade relations and welcoming any relations with Kuwait. These are in line with presidential directives in Iraq to revitalize Iraq's relations with the Arab states on the ground of solidarity and a message of appreciation carried by an Iraqi minister to the Saudi leadership.

Muyassar Raja Shallah, the Iraqi minister of industry, currently visiting Riyadh to take part in the meetings of the 7th session of the Arab ministers of industry said that trade with Saudi Arabia exceeds USD one billion, expressing his hope that this number will increase.

Shallah said in a statement to the Saudi daily al-Watan that his ministry issued its consent to found the project that is 100% Saudi capital. He stressed that Baghdad, following the positive developments that took place at Beirut's Arab summit gave its directives to give Saudi Arabia the priority in trade relations.

The Iraqi minister of industry also stressed his country's welcome to trade dealing with Kuwait. He indicated that Kuwaiti goods had recently arrived to the Iraqi markets, but he gave no more details.