Saudi Arabia has confirmed that it hopes to increase trade exchange with Iraq on Thursday, official sources have said.
The Saudi Export Development Authority has already identified the types of products imported from Iraq, added the sources.
Omar Nasser Al-Rajeh, the advisor of the Saudi Export Development Authority, was quoted by the sources as saying: “The Saudi Export Development Authority organized, on the sidelines of the Iraqi-Saudi Business Forum, a meeting of a group of Iraqi and Saudi businessmen to discuss opportunities for joint cooperation between the two countries, as about 60 Iraqi and 200 Saudi companies participated with us.”
He added, “The Kingdom of Saudi Arabia imports aluminum scrap, which is one of the most important imported things, as well as iron scrap and some foodstuffs such as dates and rice.”
Al-Rajeh also said: “Since 2017, Saudi exports began to flow into Iraq, with an annual increase of about 10 percent, and we look forward to the volume of trade exchange reflecting the size of the economies of the two countries.”
He added: “The volume of exports of foodstuffs and construction constitutes about 60 percent of the total volume of the Saudi exports to Iraq.”
The advisor also said, “Saudi exports have good acceptance among the Iraqi street due to their high quality, our products have gained confidence over the past years, as the volume of Saudi exports in the food sector is about 900 million riyals and we look forward to increase this rate.”
He concluded, “There are several products exported to Iraq, on top of which are dairy and pasta, and poultry products, and others.”
