Today, on Tuesday, the Iraqi Council of Ministers approved two agreements with Saudi Arabia regarding maritime transport and the avoidance of double taxation.

The Council also approved the allocation of $275 million to pay the dues of the Kurdistan Region.

It is worth noting that in April 2021, Saudi Arabia and Iraq agreed to establish a joint Saudi-Iraqi fund with an estimated capital of $3 billion as a contribution by the Kingdom of Saudi Arabia to encourage investment in economic areas in the Republic of Iraq, in the interests of the economy of Saudi Arabia and Iraq , and with private sector participation on both sides.

Cooperation will also take place in the field of energy and renewable energy, as well as the activation and acceleration of the joint action plan under the auspices of the Saudi-Iraqi Coordination Council with the need to continue cooperation and coordination in the oil sector. within the framework of the work of the Organization of the Petroleum Exporting Countries (OPEC) and the agreement (OPEC+), in full compliance with the requirements of the agreement, the compensation mechanism and all decisions that have been agreed, in order to ensure the stability of world oil markets.

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