Arar City Reveals Volume of Trade Via Arar Border Crossing

The Chamber of Commerce in Arar city, in a statistical report, revealed the volume of trade exchange through the Jadeedath Arar border crossing from the Republic of Iraq, reported Saudi Press Agency.

The Chairman of the Board of the Arar Chamber of Commerce stated that the Kingdom and the Republic of Iraq are significant economic powers with a substantial impact on the global economy.

Officials in both countries are looking forward to opening new horizons for commercial and investment cooperation between them, which would support and enhance their economic status.

The Chairman explained that since the opening of the Jadeedath Arar border crossing, the prospects for joint investments have increased, leading to the smooth flow of trade between the two brotherly countries.

He pointed out that the value of trade movement through the land ports in the Kingdom in 2022 reached 145.8 billion Riyals, with Jadeedath Arar’s share amounting to about one billion Riyals.

He emphasized the growing trade movement through the border crossing from 2020 to 2022. The volume of exports jumped from 1.2 thousand tons to 272.6 thousand tons in 2022. He also praised the growing joint investments between the two countries.

He noted the expected influx of Saudi investments into the Iraqi agricultural sector following the Iraqi Minister of Agriculture’s offer of one million hectares for agricultural investment to Saudi capital, providing all the required services.

Moreover, he mentioned that completing the infrastructure of the logistical area at the border crossing will contribute to increasing the volume of trade exchange between the Kingdom and Iraq and will lead to a rise in investments in the Northern Border region.

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