Iraq, Saudi Arabia discuss trade zone plans
Saudi Arabia on Thursday (March 14th) expressed willingness to establish a trade zone with Iraq at the Arar border crossing, the Jordanian news agency, Petra, reported.
The crossing has been closed to trade since 1990, Emirati news outlet The National reported.
Saudi Minister of Commerce and Investment Majed Qasabi, visiting Iraq, said his country is ready to provide Iraq with technical and financial support, and cover all financial expenses to establish a single-window trade system, Petra said.
Reopening Arar border crossing will be the first step in this process, he said.
Iraqi chairman of the Border Crossings Commission Kadhim Iqabi said in a statement following a meeting with Qasabi that the two sides had agreed to open the Arar border crossing no later than October.
Iqabi stressed the need to complete the customs measures and move towards implementing the single-window trade system.
Iraq wishes to establish the trade area on its side of the border to create job opportunities for the local population, he added.