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January 25, 2022
Saudi Arabia and Iraq signed an electrical interconnection agreement on Tuesday at the Saudi-Iraqi Forum.
Hamid Al-Ghazi, the Secretary-General of Iraq's Council of Ministers, set out the need for the deal, saying: "Iraq is in dire need of electricity, and this connection will add to the Iraqi electric power."
The Memorandum of Understandng came as a result of a study conducted by the two countries, which concluded that there is an opportunity to connect them in what is a step towards achieving a regional market for electricity sharing.
Saudi Energy Minister Prince Ablduaziz bin Salman said: “Recently, Saudi Arabia and Jordan signed a MoU of electrical interconnection between both countries, and then a few months ago we signed an agreement in the same regard with Egypt."
“Today comes the agreement with Iraq, which is part of a goal to make the Kingdom a regional center for linking electricity systems in the Arab world,” he added.
https://www.arabnews.com/node/2011441/business-economy
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Saudi-Iraqi Coordination Council to strengthen trade relations, says chief
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Al-Harbi said that trade relations between the two countries had reached unprecedented levels, with the volume of trade exchange from 2016 to 2021 amounting to nearly SR20 billion ($5.3 billion).
He added that the Saudi-Iraqi Business Forum and the Saudi-Iraqi Business Council were expected to sign a number of agreements and memoranda of understanding between the Saudi and Iraqi private sectors.
https://www.arabnews.com/node/2011036/business-economy
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