ERBIL, Kurdistan Region — Iraqi leaders received a delegation from Saudi Arabia in Baghdad on Monday to discuss strengthening economic cooperation between the two countries.
Iraqi Prime Minister Mustafa al-Kadhimi met with Saudi Minister of Commerce Majid al-Qasabi and an accompanying delegation and discussed enhancing cooperation in the fields of economy and investment, according to a statement from the PM's office.
President Barham Salih also met with Qasabi to discuss strengthening economic cooperation between the two countries, according to a statement from his office.
In June, Saudi Arabia expressed its desire to invest in gas projects and the petrochemical industry in Iraq.
Kadhimi visited Saudi Arabia in March and signed several new agreements. Saudi Arabia announced in mid-October it would increase its investments in Iraq by 10 billion Saudi riyals ($2.7 billion USD).
Iraq and Saudi have enjoyed closer ties in recent years, as Saudi Arabia looks to offset Iranian influence in the region. Rapprochement between the two began in 2015, when Saudi Arabia reopened their Baghdad embassy after 25 years of closure. In October, the two countries agreed to open the Arar border crossing, originally closed in 1991.
