Baghdad – IA – Nassar Al-Hajj
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, today, Friday, summarized the importance of activating the partnership between the Iraqi and Saudi private sectors, and while he stressed that the economic geography of the two countries constitutes an important foundation in the Gulf and Middle East regions, he pointed out the economic strengths of the partnership between Iraq and Saudi Arabia.
Saleh told the (INA), “Although the economy of the Kingdom of Saudi Arabia occupies an important position in the Group of Twenty countries, which is the largest group of countries in the world in terms of economic growth and prosperity, the weight of the economic geography of our countries, Iraq and Saudi Arabia, constitutes another basis.” “It is important in the economies of the Gulf region and the Middle East and their pioneering economic role in managing the energy market in the world.”
He added, “The oil production of our two countries constitutes second place, at least, in global oil production, and our two countries occupy first place in religious tourism in the world. Therefore, the strength of economic attraction and the relative advantages of the two large economies, Iraq and Saudi Arabia, undoubtedly lead to a high degree of economic interconnection, especially In the two main investment fields, which are the industrial and digital fields, and other areas of economic progress.”
He pointed out that “the discovery of the centers of strength of the two neighboring countries pushes towards the integration of markets and joint economic and investment activities, which are the pillars of strength identified by the Prime Minister in shaping the partnership relations between our two countries.”
He continued, “The stability and economic growth that the Kingdom has witnessed over more than the last half century, which has helped it achieve economic prosperity in two directions. The first is high economic diversification outside the energy sector and entering the world of manufacturing industry, and the second is integration into the global economy in accordance with the latest technologies and opportunities for economic progress.” “.
He added, “It is no secret that the Kingdom of Saudi Arabia today occupies a very distinguished position in the field of qualitative control over its products and all development production supplies, and its production specifications are among the first levels in the world.”
He continued his speech: “Therefore, Iraq and its economic future, which is based on the vision of the Development Road Project and the Iraq Development Fund and the commencement of work in them, in addition to the activity of the national market, is in dire need of joint cooperation between the two neighboring economies in a way that leads to common balanced benefits and interests.”
He concluded by saying: “In light of the above, it is inevitable that competitive market forces, investment, technological modernization and the transfer of knowledge that are available in a large economy such as the Saudi economy push for building solid foundations of long-term strategic economic interests and partnerships between our two neighboring countries.”