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SAUDI ARABIA AND IRAQ AGREE ON SECURITY, TRADE AND INVESTMENT

Saudi Arabia’s Crown Prince Mohammed bin Salman and Iraq’s Prime Minister Mustafa Al-Kadhimi agreed on the need for their countries to continue coordinating in confronting extremism and terrorism.

The two leaders met at the Yamamah Palace in Riyadh on Wednesday and signed several agreements to boost economic cooperation, starting with the creation of a joint Saudi-Iraqi fund worth $3 billion.

A joint statement issued after the meeting described the fund as a contribution from the Kingdom to promote investment in economic fields in Iraq to benefit both their economies.

The two neighbours also agreed to continue cooperation within the Organisation of Petroleum Exporting Countries (OPEC), with full commitment to the requirements of the OPEC and agreement.

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