Iraqi economic forum - Saudi in September






29/8/2017 12:21 AM


Baghdad / Hussein Thugb


The march of openness to the most important global and regional economic blocs continues and comes after the world's major economies have confirmed the role of Iraq on the big arena of the global economy with the wealth and sites strategically very important for the overall production processes of all international specialized companies.


Today we stand at an important detail in the march of the Iraqi economy represented by the great openness between the two brotherly countries Iraq and Saudi Arabia and the announcement of the establishment of the Iraqi-Saudi Chamber of Commerce and Industry which aims to bring about a major change in the shape of the national economy and transforming Iraq from an importer to cover the market requirements to the producer and exporter of various goods.


The president of the elected chamber Firas Rasul al-Hamdani said: Based on the initiative prepared by the Prime Minister to open up to the Gulf States, the Federation of Iraqi Chambers of Commerce directed the establishment of the Iraqi-Saudi Joint Chamber of Commerce and Industry.


He said in an interview for "morning" that the openness between the Iraqi and Saudi economists leads to positive results in all cases and can achieve integration in many economic joints.




Investment Portal


Al-Hamdani stressed that the ambassador of Saudi Arabia to Iraq confirmed yesterday that King Salman has supported all projects in Iraq in the service sectors and productivity through the investment portal and the Saudi investor's entry strongly, and that the Kingdom supports the trends that make Iraq from an importer country to a source country "According to the ambassador of the Kingdom in Iraq" Iraq has moved from nearly 27 years to the importer of most of the goods and goods needed by the local market




Saudi grant


He stressed that the Saudi King Abdullah's 2006 grant of $ 1 billion will be reviewed and used for the service and financial sectors, and that there are major Saudi companies that wish to work and invest in Iraq.
He pointed out that the Kingdom of Saudi Arabia is the mother of the Gulf States and its entry into the field of cooperation with Iraq means the entry of all other sister countries.


He pointed out that more than 40 economic specialists representing various sectors contributed to the establishment of this room, and it was agreed on the constituent body which includes the sectors of finance, oil and aviation. Noting that the Saudi side nominated 14 personalities for this room, including the Secretary of the Arab Contractors Union Ziad al-Otaibi and Saudi Industry Ambassador Jassem Shammari.


Memorandum of Understanding
He pointed to the preparation of a memorandum of understanding agreed by the two parties during the coming period, referring to the agreement on the organization of the Iraqi Saudi Forum in September.


Al-Hamdani pointed out that the breakthrough adopted by the Federation of Iraqi Chambers of Commerce open to the establishment of common chambers, which carries great economic benefit for all parties, especially as Iraq is a rich country that has the attention of the regional effort And global.


First Deputy Chairman of the Chamber, Abdullah Tabara, stressed that the future work is large and the size of the Iraqi economy, which requires exceptional efforts should be made with the Saudi side to achieve cooperation of the highest degree of benefit to Iraq.


The Second Deputy Speaker of the Chamber, Suha Al-Kafaie, told Al-Sabah: "The presence of Iraq and Saudi Arabia in a single work is a matter of common interests and means more cooperation and means the two countries are keen on each other and this naturally leads to more stability for the two countries at all levels. For a new economic reality that can benefit the two countries.


A member of the Board of Directors of Al-Arafa Qassim Al-Bahadli, he pointed out that Iraq has wealth and businessmen with extensive field experiences, and this requires us to work with one hand in order to achieve positive results in tune with the size of the Iraqi economy.


He urged that efforts in the coming period towards the integration of the poles of the local effort, the importance of this in support of economic development.


Stage of openness


While the member of the Board of Directors of Tamkeen Abdul Hasnawi that the stage of openness to neighboring economies, including Saudi Arabia means that the next need to work plans accurate and realistic, especially as the Saudi economy is a global impact and has developed sectors can be employed to serve Iraq.


In turn, Chamber member Hassan Falah Hussein said that the integration of Iraq and Saudi Arabia economically is positive and influential at the level of the region and the world, both have wealth and energy, which are important elements in the global market and hence stems from the great importance of this convergence, which will come eat in the near future.


Muhannad al-Saadi member of the Chamber pointed out that the coming period requires that we be files containing a database of the sectors of production and service to determine the reality and then draw plans that would progress gradually and here we can benefit from the experience of the Kingdom, which was able to promote industrial production, agriculture and service aspects .


The member of the chamber d. Anwar al-Yasiri said that the existence of a real approach to the rapprochement between two important economies in the region leads to achieving great economic feasibility in all sectors of production and service to reach the tourism side, which continues throughout the year for the existence of continuous Umrah in the Kingdom is offset by the existence of holy shrines in Iraq


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