Economic Insights – Baghdad
The Iraqi Ambassador to Saudi Arabia, Safia Al-Suhail, reported that the trade exchange between Iraq and Saudi Arabia reached $1.3 billion in 2024, marking a considerable rise compared to previous years.
In an interview, Al-Suhail noted the significant and progressive development in the economic and commercial relations between the two nations.
She further detailed that the number of registered Saudi companies operating in Iraq has reached 34, while 46 Iraqi firms are registered in the Kingdom, highlighting the growing economic ties.
Additionally, Al-Suhail announced that Iraqi Airways plans to initiate a weekly flight service from Baghdad to Riyadh starting in early April. This move aims to bolster cultural and business interactions between the two countries.
On the political front, Ambassador Al-Suhail confirmed that Iraq is preparing to host the thirty-fourth Arab Summit on May 17, which it will chair.
She emphasized the significance of this summit, occurring after Iraq last hosted an Arab summit in 2012, underscoring Iraq’s prominent role within both Arab and regional contexts.
Al-Suhail continued to state that this summit is particularly crucial given the challenging circumstances in the Arab region. It is expected to focus on critical issues, including the Palestinian situation, the devastation in Gaza, and the ongoing conditions in Lebanon and Syria.
She highlighted that Iraq is committed to fostering Arab dialogue and solidarity in order to address common challenges and aspire to a brighter future for Arab nations.
On Thursday, Deputy Prime Minister and Foreign Minister Fouad Hussein announced May 17, 2025, as the official date for the Arab Summit in Baghdad.
This announcement was made during the twelfth meeting focused on preparations for the upcoming Arab summit, according to a statement from the Iraqi Foreign Ministry.
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