(MENAFN- Kuwait News Agency (KUNA)) RIYADH, Oct 22 (KUNA) -- Saudi Arabia and Iraq agreed on Sunday on opening border checkpoints and setting up a trade zone between the two countries.
This was stipulated in the Riyadh Declaration, publicized following the first meeting of the freshly established Saudi-Iraqi Coordination Council, co-chaired by Saudi Minister of Investment Dr. Majed Al-Gasabi and the Iraqi Acting Minister of Planning, Suleiman Al-Jmaili.
The declaration stipulated resuming air flights between the two countries, opening a Saudi consulate in Iraq, a bureau for a Saudi energy company in the country and reopening the bureau for Sabic company there.
The Saudi Salic company will be given a permit for investment in Iraqi agriculture. Saudi Arabia will partake in fairs in Iraq, according to the declaration text.
The two sides expressed satisfaction at the noticeable recovery of the oil market, against backdrop of the oil producers' agreement on slashing crude output.
Moreover, they agreed on facilitating trade exchanges, boosting partnerships between the public and private sectors and exchanging expertise.
The joint coordination council was proclaimed earlier today, under aegies of King Salman bin Abdul Aziz and the visiting Iraqi Prime Minister Haidar Al-Abadi.
In a statement during a ceremony endorsing the new council, the King re-affirmed support for Iraq's unity and stability. Al-Abadi expressed deep satisfaction for establishing the joint council. (end) mdm.rk
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