Saudi Arabia and Iraq on Sunday signed an agreement to set up the Saudi-Iraqi Coordination Council (SICC) to bolster cooperation in various fields, state-owned Saudi Press Agency reported.
The agreement was signed by the Saudi minister for commerce and investment, Majid Al-Qassabi, and Iraqi minister of planning, Salman Al-Jumaili.
The two countries agreed on opening border crossings and developing ports, roads and border areas. They also agreed to review an agreement on customs cooperation and study bilateral trade.
They also discussed the Kingdom’s participation in an international economic forum to be held in Baghdad.
The council agreed to reopen a Saudi Basic Industries Corp (SABIC) office in Iraq and grant Saudi agriculture firm SALIC an investment license.
It also agreed to develop private sector partnerships, explore available investment opportunities, and encourage the exchange of technical and scientific expertise.
In addition, flights will be resumed between both countries, the Kingdom will also open a consulate and an office of TAQA in Baghdad.
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