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Saudi trade team to attend Iraq reconstruction forum in Bahrain

DAMMAM - The Council of Saudi Chambers of Commerce and Industry (CSCCI) has approved the participation of the Saudi Arabian businessmen in the Iraqi-Arab partnership for reconstruction, trade and investment in Iraq forum.

The forum has been organised by the Bahraini Chamber of Commerce and Industry in the Kingdom of Bahrain on February 29.

The CSCCI delegation will meet their Iraqi counterparts to discuss opportunities available for developing trade and investment in Iraq.

Meanwhile, the ministries of foreign affairs and commerce in Saudi Arabia have set terms and conditions to facilitate the exchange of visit of the Saudi businessmen and their Iraqi counterparts according to specified mechanisms including issue of visit visas to Iraqi businessmen.

Saudi businessmen have been asked to take their time before entering into investment deals due to the deteriorating security conditions in Iraq, and the endorsement of the economic reforms, initiated by the interim Coalition Authorities as well as related rules and regulations by an internationally recognised Iraqi government. The rules are aimed at safeguarding the rights of the Saudi investors in the future.