Iraq, Saudi Arabia agree to step up economic cooperation – Middle East Monitor

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Iraq and Saudi Arabia on Sunday announced an agreement to strengthen cooperation in the fields of the economy and investment, Anadolu reports.

A Saudi ministerial delegation headed by Environment Minister Abdulrahman Al-Fadli and Industry Minister Bander Al-Khorayef traveled to Baghdad on Sunday to attend meetings of the Iraqi-Saudi Committee.

The committee was formed in July to strengthen cooperation between the two countries in the fields of economy and investment.

Speaking at the end of the meeting, Iraqi Oil Minister Ihsan Abduljabbar said Iraq was eager to strengthen the partnership between the two countries by carrying out new projects in the fields of power link, petrochemicals and gas.

Al-Khorayef, for his part, expressed hope that the meetings of the Saudi-Iraqi Committee would contribute to joint and promising investments.

Saudi Arabia resumed diplomatic relations with Iraq in December 2015 after a 25-year hiatus after the Iraqi invasion of Kuwait in 1990.

Iraq has become a field of competition between Saudi Arabia and Iran, which maintains close relations with several Iraqi Shiite groups.

Source: Gulf OPEC, Iraq wonders whether to maintain deep oil cuts in 2021

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