Trade between Iraq and Saudi Arabia soars to $1.3 billion

The Iraqi ambassador to Saudi Arabia, Safia Al-Suhail, said that the volume of trade exchange between Iraq and Saudi Arabia reached $1.3 billion in 2024, reflecting a significant increase compared to previous years.

In an interview with the Asharq Al-Awsat newspaper, Al-Suhail stated that the political, economic, and commercial ties between Saudi Arabia and Iraq are undergoing a noteworthy and ongoing evolution.

The Iraqi diplomat clarified that there are 46 Iraqi firms registered in Saudi Arabia, compared to 34 Saudi companies registered in Iraq.

According to Al-Suhail, Iraqi Airways is anticipated to start weekly flights between Baghdad and the Saudi capital, Riyadh, in April. This move is expected to improve trade and tourism between Iraq and Saudi Arabia and to fortify connections between the people in both countries.

The strategic shift in Iraqi-Saudi ties reflects the goals of the leaderships in both countries to strengthen their cooperation in political, security, and economic areas.

Baghdad and Riyadh have taken concrete actions in order to strengthen their collaboration in a way that advances regional stability and serves shared interests.

IraqiNews.com