Iraq urges Saudis to invest in agricultural projects

:: Iraq’s agriculture minister on Wednesday urged Saudi businessmen to invest in mutually beneficial agricultural projects in his country.

Falah Al-Lahibi was addressing members of the Council of Saudi Chambers (CSC) at a meeting chaired by its Vice Chairman Sami Al-Obaidi at the council’s headquarters in Riyadh.

Al-Lahibi, leading an Iraqi delegation, urged Saudi businessmen to learn about his country’s promising investment opportunities in the agricultural sector.

The meeting, attended by Iraqi Ambassador to the Kingdom Rushdi Al-Ani, discussed ways to strengthen bilateral economic and trade relations, and reviewed investment opportunities in both countries.

Al-Lahibi reviewed Iraq’s agricultural sector, its economic importance and its investment potential.

He said there are promising opportunities due to the availability of water, fertile land, expertise and labor, as well as the geographic proximity between the two countries. He added that investing in Iraq is now safe as security has stabilized.

Welcoming Al-Lahibi, Al-Obaidi expressed Saudi interest in investing in Iraq. He called for joint efforts to increase bilateral trade and investment in viable ventures in the agricultural sector, which is an important way to diversify sources of income in the Kingdom, in line with Vision 2030.

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