Iraq, Saudi Arabia aim to boost ties
‘Iraq plays essential role in strengthening stability in the region’
Iraq’s foreign minister yesterday called for more economic cooperation with Saudi Arabia, namely in investment and electricity, during a visit to Baghdad by his Saudi counterpart.
Fouad Hussain made no mention of resuming talks between Saudi Arabia and arch-rival Iran — previously mediated by Iraq — during a joint press conference.
Saudi Arabia’s Foreign Minister Prince Faisal Bin Farhan said Iraq plays an essential role in strengthening stability in the region. “The region cannot prosper without stability,” Prince Faisal added.
Reaffirming the Kingdom’s support of Iraq’s efforts to strengthen stability, Prince Faisal also highlighted the depth of relations with Iraq saying they’ve recently witnessed “great momentum.”
“This important visit comes at a time marked by great challenges, so it is essential to talk and discuss these challenges which affect the region as a whole,” Hussain said.
Hussain hailed “total cooperation” with Saudi Arabia on oil, particularly within the Opec cartel.
Iraq’s foreign minister said Riyadh was ready to back Saudi companies investing in Iraq, and welcomed it. “We hope Iraq will be supplied with electricity, either via the Saudi network or that in the Gulf,” he said.
Positive development
Citing “positive economic development” in Iraq, Prince Faisal said this created opportunities for cooperation between the two countries’ private sectors. Despite being oil-rich, Iraq suffers from crumbling infrastructure and public services, after decades of conflict and endemic corruption.
Baghdad is currently heavily dependent on neighbouring Iran for its electricity and gas, and has sought to diversify its energy sources. It has taken a role as a mediator between the regional rivals, after diplomatic relations between Riyadh and Tehran froze in 2016.