The Saudi Minister of Commerce, Majid Al-Qasabi, revealed today, Thursday, that the volume of trade exchange with Iraq has increased to one billion and 500 million dollars.

Al-Qasabi said on the sidelines of the Iraqi-Saudi Economic Forum, "The numbers in the field of economic and trade cooperation between the two countries do not rise to the aspirations of leaders, businessmen and citizens of the two peoples, and we aspire to raise the level of cooperation."

He pointed out that "his country harnesses all its knowledge, systems and procedures and places them at the disposal of Iraq," pointing out that "the private sector is the true partner for development in any country and the real economic backbone and lever for any economy."

He continued, "He will discuss with his Saudi counterparts monthly the challenges of investment opportunities, solutions and proposals, and will present proposals to Iraqi officials to encourage the investment process.

Al-Qasabi concluded: "I say to every Iraqi and Saudi, whether a businessman or an official; we are at your service and under your command in any problem."

Source: National Iraqi News Agency