Iraq and Saudi Arabia signed five agreements yesterday during a visit by Iraqi Prime Minister Mustafa al-Kadhimi to Riyadh, the Saudi-owned Al-Arabiya TV channel reported.
The five agreements covered financial, commercial, economic, cultural and media fields, Al-Arabiya TV said. Separately, the Saudi state news agency (SPA) said the kingdom’s investments in Iraq were expected to rise to 10bn riyal ($2.67bn) from a little over 2bn riyal ($533.29mn) now.
“There are a number of Saudi companies investing in Iraq and there is a real desire for a number of others to expand their investments there,” SPA said.
“The Saudi side is keen on additional investments that are expected to reach 10bn riyal in various sectors.”
SPA added that Riyadh “considers positively” Iraqi calls for an increase in Saudi investment, especially in energy, water desalination and food industries.