Tuesday, 22 Sep 2020

An Economic expert to / NINA /: The Arar crossing between Iraq and Saudi Arabia will contribute to increasing the volume of trade exchange between them

Baghdad, Economic expert Safwan Qusay said that the opening of the Arar crossing between Iraq and the Kingdom of Saudi Arabia will contribute to increasing the volume of trade exchange between the two countries in the short term.

Qusay said in a statement to the National Iraqi News Agency (NINA) that “the crossing is one of the aspects of implementing the development strategy of the Kingdom of Saudi Arabia 2030, which aspires to make the Kingdom a bridge between Africa, Asia and Iraq at the same time Iraq aspires to increase its revenues by creating non-oil revenues through the investment of the distinguished geographical location, which allows it to link the continent of Asia, Africa and Europe, and this will be reflected in the future in diverting the course of international trade towards Iraq, and through this, the infrastructure will be rehabilitated and the possibility of establishing free cities for trade exchange.

He stressed that the opening of the crossing will contribute to providing real job opportunities and contribute directly to increasing the ability to attract foreign investments, including Gulf investments that aim to invest Iraqi capabilities in agricultural and animal production to achieve food security for the Arab Gulf states by investing agricultural lands in the Samawah desert; in return, Iraq seeks to build integrated strategic relationships in all economic sectors with the countries of the region, especially the Arab Gulf states that have financial capabilities that can raise the Iraqi economic capabilities to become one of the largest economies in the world, even after a while.

 

Source: National Iraqi News Agency

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