A joint statement has been issued today between the Kingdom of Saudi Arabia and the Republic of Iraq, which reads as follows:
Results of the First Meeting of the Saudi-Iraqi Coordination Council
Under the kind patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and the Iraqi Prime Minister Dr. Haider Al-Abadi, with the presence of the US Secretary of State, Mr. Rick Tilerson, it is on Sunday, 22 October 2017, The minutes for setting up the Saudi-Iraqi Coordinating Council has been singed by the two sides, and the first meeting of the Council has been held, which aims at making consultation and coordination on common interest issues, and to enhance cooperation between the two sides in various fields.
The members of the Council conveyed their thanks and appreciation to the leaders of the two countries for their kind patronage and support for the promotion of joint relations to serve the aspirations of the governments and peoples of both countries.
The two sides pointed out the common denominators between the two countries and peoples, such as brotherhood, religion, neighborhood and common destiny.
The Council also hailed the achievements made by the Iraqi Government, by liberating areas that had been defiled by terrorism, and for the extension of State authority and control over the Iraqi territories.
The two sides expressed their satisfaction with the direction of the oil market, due to the recovery of the oil market as a result of the agreement of the OPEC countries with ten countries from outside the Organization. The attendants stressed the importance of full commitment by all countries participating in this agreement until the balance of the market is targeted. The two sides will work closely to take the necessary measures after the end of the current agreement, in accordance with the oil market outcome.
The Council has been briefed about the results of the Kingdom's participation at Baghdad International Fair, which was a very distinguished participation that may contribute to the strengthening and promotion of economic and trade relations. The Saudi side also hailed the level of welcome and hospitality enjoyed by the Saudi delegation from the warm reception to the departure.
The two sides stressed the need to work together to eliminate the obstacles and to facilitate the access of exports between the two countries. They also agreed to develop the partnership among the private sectors in the two countries, and to give the businessmen a chance to get an idea and to identify trade and investment opportunities, also to adopt effective means that may help them exploit such opportunities, in addition to encouraging the exchange of technical and scientific expertise, as well as the scientific research between the two countries.
The Saudi side will also study the possibility of cooperation in the rehabilitation of Jmaimah- Samawa road, as well as to complete the implementation of the pilgrimage road in Anbar province, also to study the technical and economic feasibility of the Saudi-Iraqi electricity link project.
The Iraqi side thanked the Kingdom for its initiative to study the implementation of customs ports. This would contribute to ease and facilitate trade exchange between the two countries.
The two sides reached an agreement on the opening of border ports and the development of seaports, roads and border areas, also they agreed to review the agreement for customs cooperation between the two countries, also to study having a zone for the trade exchange between the two countries.
It has been announced to re-operate the Air lines from the Kingdom of Saudi Arabia to the Republic of Iraq, also to open a Consulate for Saudi Arabia in Iraq, also to open an office for TAQA company in Iraq, as well as to re-open SABIC office in Iraq.
The two sides also agreed that the Saudi company Salik will obtain a license from Anbar Investment Authority to invest in Iraq, in the field of agriculture, in addition that Saudi Arabia will benefit from the economic cities available in Iraq to be an agricultural and industrial source that contribute to enhancing agricultural investment to achieve food security for the two countries.
Within the framework of promoting the bilateral relations, it has been agreed that Saudi Arabia would participate in the exhibitions to be held in the Republic of Iraq, including: Baghdad International Fair, Basra Oil and Gas Specialized Exhibition, in addition to holding Business and Investment Forum, which brings together Saudi businessmen with their Iraqi counterparts.
During the first meeting of the aforementioned Council, the two sides discussed the priorities of the Council agenda or work plans during the next two years, besides the governance of the council work, also to form a working group from the two parties to study such issues. They also agreed to hold the second meeting of the Council in Baghdad, with the presence of their Excellencies the Ministers and senior officials of the two brotherly countries.