Iraq agrees in principle to establish a joint economic zone with Saudi Arabia
Iraq agrees in principle to establish a joint economic zone with Saudi Arabia
2023-11-22 05:38
Shafaq News/ The Ministry of Industry and Minerals announced, on Wednesday, its initial approval to establish a joint economic zone with Saudi Arabia on the common border between the two countries.
The Ministry of Industry stated in a statement today that its Minister, Khaled Battal Al-Najm, chaired the first meeting of the committee to study the establishment of an Iraqi-Saudi border economic zone, which was formed under his chairmanship and with the membership of the undersecretaries of the Ministries of Planning, Oil, and Trade, and in the presence of the Director General of the Industrial Cities Authority.
He added that the meeting discussed the context of performing the tasks of the committee and making decisions related to establishing this city similar to the joint economic city between Iraq and Jordan, and deliberating on the feasibility achieved from establishing this project and how to organize, manage and supervise such cities, overcome obstacles and provide appropriate conditions.
The statement continued that the committee agreed in principle to establish the economic zone on the Iraqi-Saudi border for the gains and advantages that will accrue from it from the economic and other aspects, as it will be an important port between the two countries and a development zone that includes free zones and commercial exchange and contains banks and headquarters of many joint companies.
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