The talks of Saudi Crown Prince Mohammed bin Salman with the Iraqi Prime Minister Mustafa Al-Kadhimi, resulted in the establishment of a joint Saudi-Iraqi fund, whose capital 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 from both sides.
It was also agreed to cooperate in the fields of energy and renewable energy and to activate and accelerate 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 oil field, within the scope of work of the Organization of Petroleum Exporting Countries (OPEC) and the (OPEC +) agreement, with full commitment to the requirements of the agreement, the compensation mechanism, and all the decisions that have been agreed upon, in a way that guarantees the stability of the global oil markets.
Among the agreements signed between the two sides, was the completion of the electrical interconnection project, due to its importance for the two countries. In addition to enhancing the investment opportunities for Saudi companies, and to invite them to expand their activities in Iraq and in various fields and in the reconstruction efforts.
Source (Al-Arabiya.net, Edited)
