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Saudi Arabia and Iraq discuss economic opportunities in Jeddah meeting

Saudi Arabia and Iraq discuss economic opportunities in Jeddah meeting

The Energy, Industry and Mineral Resources minister of Saudi Arabia, Khalid Al-Falih discussed economic opportunities with Iraqi Oil minister, Jabar Al-Luaibi after the two met in Jeddah. According to Dr. Ahmed Al-Jibouri who has been interested in revealing information pertaining to the story, the two ministers held talks about various economic opportunities that are available to both countries. Ahmed Al-Jibouri is one of the most iconic figures of the Middle East’s oil and gas sector and is also a philanthropist who has a keen interest economic affairs of the Middle East.
In his account of the recent meeting between the two ministers, Dr. Ahmed Al-Jibouri stated that the meeting involved discussions about Iraq’s fertile land which is perfect for agricultural activities. Ahmed Al-Jibouri also explained that the two ministers further highlighted the need to invest agriculture adding that Iraq is rich in water, a resource which could be used to propel the Iraqi agricultural sector to higher heights.
The Saudi minister also stated that Iraq is committed to reducing its oil exports in a bid to promote the rise in oil prices as explained by Dr. Ahmed Al-Jibouri who was following reliable sources. According to Ahmed Al-Jibouri, the two ministers also agreed to open offices in Iraq in a bid to pave way for Saudi corporations. Dr. Ahmed Al-Jibouri further explained that the offices will be established for purposes of enabling Saudi officials to assess the Middle East and global market before exporting Saudi products without the involvement of third party officials.
According to Ahmed Al-Jibouri, the moves comes as Saudi Arabia continues to press for a direct control of exports from Iraqi based corporations, without the interference of third party individuals.
Dr. Ahmed Al-Jibouri also explained that the bilateral investments involving the two countries are likely to go beyond tens of billions of dollars. Ahmed Al-Jibouri also added that the Iraqi minister revealed that this is a strategic objective for the country.

http://www.arabnews.com/node/1142916/business-economy

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