Saudi Arabia Encourages Firms to Tap Iraq’s New Import Decision

Saudi Arabia has moved to encourage domestic companies to take advantage of a new Iraqi decision allowing the import of certain agricultural products, sources told Asharq Al-Awsat.

The step aligns with Riyadh’s push to expand the reach of Saudi goods to global markets.

According to the information, the Saudi General Authority for Foreign Trade has notified national companies and institutions of the Iraqi Cabinet’s decision to open imports of tomatoes, potatoes, cabbage, cauliflower, lettuce, white radish and beetroot from all countries.

The move comes as annual trade between Saudi Arabia and Iraq stands at about 5 billion riyals ($1.3 billion). The two neighbors are also studying plans to establish the region’s first cross-border free economic zone at Arar, Saudi Investment Minister Khalid Al-Falih said earlier.

Saudi exports to Iraq include aluminium and related products, electrical equipment and appliances, grain-based preparations, dairy and eggs, edible animal products and minerals. Riyadh’s imports from Iraq include sugar, copper and their derivatives.

The General Authority for Foreign Trade was created in 2019 as an independent body with financial and administrative autonomy to advance the Kingdom’s international trade interests and help grow its economy.

The authority is responsible for setting foreign trade policies and strategies in coordination with the public and private sectors, representing Saudi Arabia in regional and global trade forums, and managing trade-related disputes and free trade negotiations.

It also works to protect domestic industry from harmful international trade practices by enforcing World Trade Organization rules on anti-dumping, subsidies and safeguard measures, supervises Saudi trade negotiation teams and overseas trade offices, and manages joint Saudi-foreign business councils.

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