RIYADH — The Minister of Commerce and Chairman of the Saudi-Iraqi Coordination Council Dr. Majid Bin Abdullah Al-Qasabi has reiterated the strong relations between Saudi Arabia and Iraq, which have common interests and are united by historical ties.

In a statement to the Saudi Press Agency (SPA) on the occasion of the Saudi-Iraqi Business Forum being held in Riyadh, Dr. Al-Qasabi said that the leaderships of the two countries are keen to take the relations to new heights in various fields and invest all capabilities and opportunities for the benefit of the two sides.

The minister said the Saudi-Iraqi relations, in light of the follow-up by the leaderships in the two countries, are at their best and witnessing significant growth, adding the Saudi Iraqi Coordination Council is keen to boost cooperation in various fields, including economic, development, security, investment, tourism, cultural, and media.

Dr. Al-Qasabi stressed the council's endeavor to remove all obstacles to encourage investment, provide an opportunity for businessmen to learn about the advantages of the commercial and investment sectors, and adopt effective means that contribute to the development of border areas and stimulate promising investment opportunities.

The trade exchange volume between the Kingdom and Iraq amounted to SR17.7 billion during the past five years. The two sides have engaged in joint projects including cooperation in energy, petrochemical industries, transportation, logistics services, irrigation systems, agricultural equipment, food industry, contracting sector, and real estate development. — SPA