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Al-Kazemi will exit Saudi Arabia with five major agreements and a joint fund with a capital of three billion dollars

The Media Office of the Iraqi Prime Minister issued the joint Iraqi-Saudi statement after the visit of Prime Minister Mustafa Al-Kazemi to the Kingdom of Saudi Arabia.

The statement stated, “Based on the brotherly and historical ties and ties between the Republic of Iraq and the Kingdom of Saudi Arabia and their brotherly peoples, and a desire to develop relations on solid foundations and principles, foremost among which are Arab and Islamic brotherhood, good neighborliness and common interests, and in response to a generous invitation from the Custodian of the Two Holy Mosques King Salman bin Abd. Aziz Al Saud, King of the Kingdom of Saudi Arabia, Mustafa Al-Kazemi, Prime Minister of Iraq, visited the Kingdom of Saudi Arabia on March 31, 2021. ”

He added, “A session of talks was held between Mustafa Al-Kazemi, Prime Minister of Iraq, and His Royal Highness Prince Muhammad bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, which dealt with prospects for bilateral cooperation between the two brotherly countries and ways to enhance them in all fields.” .

He said, “Views were also exchanged on issues and issues of concern to the two countries, on the regional and international arenas, in a way that contributes to supporting and strengthening security and stability in the region and the world.”

The two sides praised the results of the meeting that took place between the Prime Minister of Iraq and the Custodian of the Two Holy Mosques, via video communication on March 25, 2021, and the two sides emphasized the importance of what was discussed and understanding on during that meeting, especially with regard to strengthening relations between Iraq and the Kingdom, and enhancing the work The Saudi-Iraqi Coordination Council.

They expressed their satisfaction with the level of cooperation and coordination between the two countries, stressing their determination to continue and deepen aspects of cooperation and coordination between them in order to serve the common interests in the political, security, military, commercial, investment and tourism fields, and praised the achievements of the Iraqi-Saudi Coordination Council and the agreements and memoranda of understanding that resulted from it and the importance of urging the ministries and relevant authorities to The two sides follow-up and activate aspects of cooperation in a way that allows optimal investment for all potentials and opportunities available to enhance integration between the two countries, solidarity in facing common challenges, and build on the positive results previously achieved in the mutual visits between officials of the two countries during the last period.

On the level of bilateral relations, the two sides affirmed their keenness to expand bilateral cooperation in various fields and to activate the agreements and memoranda of understanding reached between the two countries, and urged the ministries and relevant authorities in the two countries to make more efforts to ensure the speedy completion and implementation of these agreements.

They also stressed the continuation of joint cooperation and coordination in facing the threat of extremism and terrorism, as a threat to the countries of the region and the world through the exchange of expertise and experiences between the competent security authorities and centers in the two countries, and agreed to continue to support the efforts of Iraq in cooperation with the International Coalition to confront the remnants of the terrorist organization ISIS. The importance of joint cooperation in securing the safety of the borders between the two countries.

The two sides agreed on the following:

1- Establishing a joint Iraqi-Saudi fund, the capital of which is estimated at three billion dollars, as a contribution from the Kingdom of Saudi Arabia in promoting investment in economic fields in the Republic of Iraq, for the benefit of the Saudi and Iraqi economies, with the participation of the private sector on both sides.

2- Cooperation in the fields of energy and renewable energy and activating and accelerating the joint action plan under the umbrella of the Saudi-Iraqi Coordination Council, with the need to continue cooperation and coordination of positions in the petroleum field, within the scope of work of the Organization of Petroleum Exporting Countries (OPEC), and the agreement (OPEC +), with Full commitment to the requirements of the agreement, the compensation mechanism, and all the decisions that have been agreed upon to ensure the stability of the global oil market.

3- The completion of the electrical interconnection project due to its importance for the two countries.

4- Enhancing coordination in the field of mutual support and support within the framework of multilateral diplomacy.

5- Enhancing investment opportunities for Saudi companies and calling them to expand their activities in Iraq and in various fields, and in reconstruction efforts.

The Republic of Iraq appreciated the participation of the Kingdom of Saudi Arabia in the Kuwait Conference for the Reconstruction of Iraq, which was held during the period 12-14 February 2018, and its pledges and contribution to it, and it was agreed to coordinate between the two sides to agree on the means and aspects of the aforementioned support, as well as the initiatives provided by the Kingdom of Saudi Arabia. For the Republic of Iraq in the field of confronting the Corona pandemic (Covid-19).

The Republic of Iraq commended the announcement by His Royal Highness Prince Muhammad bin Salman Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, of the Saudi Green Initiative and the Green Middle East Initiative, which will be launched soon, which expresses the Kingdom and the region’s direction to protect the land and nature in order to achieve global goals. With an emphasis on working with the Kingdom for everything that achieves these initiatives and their goals.

Bilateral agreements were signed that included (an agreement to avoid double taxation, an agreement for cooperation in the field of development planning for economic diversification and private sector development, a cooperation agreement between the Saudi Contractors Authority and the Iraqi Contractors Union for the reconstruction of Iraq, and the agreement for financing Saudi exports to Iraq).

Two memoranda of understanding and cooperation were also signed which included (a memorandum of understanding between the Iraqi Media Network and the Saudi Radio and Television Authority, and a memorandum of cooperation between the King Abdul Aziz House in the Kingdom and the House of National Books and Documents in the Republic of Iraq).

On the level of regional issues, the two sides agreed to intensify cooperation, coordination and exchange of views on issues and issues of concern to the two countries on the regional and international arenas, in a way that contributes to supporting and strengthening security and stability in the region, and the need to keep them away from tensions and their causes, and the joint endeavor to establish the foundations of security and sustainable stability.

The two sides stressed the security, safety and stability of the region, and urged all neighboring countries to adhere to the principles of good neighborliness, common interests and non-interference in the internal affairs of countries, and in this context, the Prime Minister affirmed his support for the initiative of the Kingdom of Saudi Arabia to end the Yemen crisis.

Prime Minister Mustafa Al-Kazemi expressed his thanks and appreciation to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, to His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, and to the Kingdom’s government for the warm reception he and the accompanying delegation received. And warm hospitality.

Media Office of the Prime Minister