Salalah: Iraq and the Sultanate of Oman have officially signed a memorandum of understanding aimed at developing trade exchange and enhancing investment opportunities between the two nations. Minister of Trade Athir Dawood Al-Ghariri announced the agreement as part of the Prime Minister’s official visit to Oman.

According to National Iraqi News Agency, the memorandum was signed in Salalah and seeks to increase trade volume, develop exports, and expand economic cooperation. The signing was conducted by Iraq’s Trade Minister Athir Dawood Al-Ghariri and Oman’s Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed bin Musa Al-Yousef.

Minister Al-Ghariri stated that the agreement represents the beginning of a new phase in economic relations, aiming to improve the flow of goods and products. It also focuses on facilitating business participation in exhibitions, exchanging commercial information, supporting joint investments, and expanding access to regional and international markets.

Al-Ghariri further noted that the Iraqi government is focused on diversifying its economic partnerships and learning from successful international experiences. He highlighted the significant potential in Iraq-Oman relations to achieve substantial growth in trade volume, benefiting both countries.

The visit also included the signing of another memorandum of understanding between the Iraq Stock Exchange and the Oman Stock Exchange. This agreement, signed by Riyadh Fakher Al-Hashemi, Director General of the Department of Foreign Economic Relations at the Trade Ministry, aims to enhance financial cooperation, share expertise, and develop joint investment tools, adding a new dimension to the economic ties between Iraq and Oman.