Baghdad An expert in economic affairs, Safwan Qusay, confirmed that the Jamima port in al-Muthanna governorate will be a major window to increase the volume of trade exchange between Iraq and the Kingdom of Saudi Arabia.

Qusay said in a statement to the National Iraqi News Agency / NINA /: “The Iraqi economy is heading to open up to the economy of Saudi Arabia as part of the efforts made to move towards economic integration, through the opening of the Jamima port in al-Muthanna governorate, which will become a major window to increase the volume of trade exchange between Iraq and the Kingdom to reach $10 billion,” noting that: “Within the strategic framework, Iraq, with its geographical location, could be a major window to link the economy of the African continent with Asia and Europe.”

He pointed out: “The money allocated in the joint fund between the Kingdom and Iraq, amounting to 3 billion dollars, can be invested to establish an appropriate infrastructure to move the investment market in the agriculture and livestock sector, and the electrical connection with the Kingdom will contribute to reviving the Iraqi industry.”

The economist called for speeding up linking the Iraqi economy with the economies of the region and reformulating national economic strategies, in order to be integrated with the countries of the region and to contribute to creating real job opportunities in the formal private sector, and to stimulate local, Arab and international investments to go to untapped energy in Iraq, which gives a revenue that may be the best in the world.

The Border Ports Authority had formed a committee for the purpose of preparing an economic and technical feasibility study to open the Jamima border crossing with Saudi Arabia.

The committee includes members from Al-Muthanna Governorate, the Ministries of Interior, Finance, Planning, Transport, Construction, Housing and Municipalities, the National Intelligence Service, as well as the Ports Authority

Source: National Iraqi News Agency