The Saudi Exports Development Authority’s “Made in Saudi” business delegation recently conducted a pivotal meeting in Basra, Iraq. This high-profile event saw the participation of more than 28 leading Saudi firms alongside 130 Iraqi corporations, representing diverse sectors such as building materials, chemicals and polymers, energy, and packaging.
The mission aimed to explore fresh avenues of cooperation between Iraq and Saudi Arabia, fostering discussions that resulted in the signing of various agreements and memorandums of understanding. This collaborative effort holds the promise of enhancing trade relations and bolstering economic ties between the two nations.
According to reports from the Saudi Press Agency, non-oil exports from Saudi Arabia to Iraq have experienced substantial growth, reaching an impressive total of $3.95 billion during the period spanning from 2018 to 2022. Among these exports, the construction materials industry emerged as a leader, contributing significantly with an estimated value of $1.18 billion. Notably, the food product sector also played a pivotal role, accounting for exports valued at $1.08 billion during this period.
This trade mission signifies a remarkable step forward in strengthening the economic partnership between Saudi Arabia and Iraq, marking a mutually beneficial collaboration that holds the potential for substantial growth and prosperity in both nations.
