Strengthening Economic Ties: Iraq and Saudi Arabia
Increasing Trade Volumes
The Iraqi Ambassador to Saudi Arabia, Safia Al-Suhail, announced that trade exchange between Iraq and Saudi Arabia reached an impressive $1.3 billion in 2024, marking a substantial increase compared to previous years. This growth underscores the deepening economic and commercial relations between the two nations.
Business Engagements
In a recent interview, Ambassador Al-Suhail highlighted that the number of Saudi companies registered in Iraq has grown to 34, while 46 Iraqi companies are now registered in Saudi Arabia. This expansion reflects a commitment to enhance bilateral trade and investment opportunities.
Aviation Connectivity
To bolster the connection between the two countries, Iraqi Airways is set to launch a weekly flight from Baghdad to Riyadh starting in early April. This initiative aims to promote trade and tourism, facilitating stronger ties between the peoples of Iraq and Saudi Arabia.
Political Developments
On the political front, Ambassador Al-Suhail confirmed that Baghdad is actively preparing to host Arab leaders for the 34th Arab Summit on May 17, 2025. This summit is particularly significant as it is the first hosted by Iraq since the previous summit in 2012, emphasizing Iraq’s prominent role in regional affairs.
The upcoming summit takes place under exceptional circumstances in the Arab world, making it critical for addressing pressing issues. Key topics expected to be discussed include the Palestinian situation, particularly the devastation in Gaza, as well as the ongoing crises in Lebanon and Syria.
Promoting Arab Collaboration
Ambassador Al-Suhail expressed Iraq’s intent to foster Arab dialogue and solidarity to address common challenges, aiming to construct a better future for the Arab population.
Official Announcement
On May 17, 2025, an official date for the Arab Summit in Baghdad was confirmed by Deputy Prime Minister and Foreign Minister Fouad Hussein during the 12th preparatory meeting for the summit, according to a statement from the Iraqi Foreign Ministry.
This developing narrative of increased economic collaboration and political engagement between Iraq and Saudi Arabia signals a significant shift in the regional landscape, highlighting the potential for enhanced partnerships in various sectors.
