04/08/2009
Iraqi ambassador to the Kingdom, Mr. Ghanim Alwan Al Jamili recently visited Asharqia Chamber and met with Chamber's Secretary General, Mr. Adnan A. Al Nueim. They discussed ways and means to improve trade relations between the two countries.
Mr. Al Nueim said that there are bright prospects for Saudi investments in various development projects of Iraq 'rebuilding' particularly in the construction sector. He added that Saudi companies have ability and experience to participate in large size projects in Iraq.
He pointed out that on the back of growing trade relations between the two countries, Saudi exports to Iraq have gone up significantly in recent years. According to Saudi government statistics, Saudi exports to Iraq jumped to SR1.5 billion in 2007, as against SR498 million in the previous year and SR 253 million in 2005. " Bilateral trade is set to rise further based on improved relations between the two countries," said Mr. Al Nueim.
The Iraqi envoy stressed the importance of bolstering trade and commercial relations with Saudi Arabia since it is the largest economy in the region. He reiterated his country's commitment to ensuring stable relations with the Kingdom and protecting the interest of Saudi companies participating in different economic development projects in Iraq.
