Saudi-Iraqi joint council stresses oil, trade and private sector partnerships

Updated 23 October 2017
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Saudi-Iraqi joint council stresses oil, trade and private sector partnerships

RIYADH: Following its establishment, the Saudi-Iraqi Coordination Council (SICC) issued a statement on Sunday stressing the brotherly bonds between the two countries and peoples.
The council expressed its satisfaction with the state of the oil market following an agreement between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers to cut supply to shore up prices.
The SICC stressed the importance of participants’ full commitment to the agreement until its target is achieved.
“The Council was briefed on the results of the Kingdom’s participation in the Baghdad International Fair, which was a great contribution to economic and trade relations. The Saudi side also noted the level of welcome and hospitality enjoyed by the Saudi delegation from reception to departure,” the statement said, adding that the two sides stressed the need to work together to reduce obstacles and facilitate bilateral trade.
They also agreed to develop private sector partnerships, inform businessmen of trade and investment opportunities, and encourage the exchange of technical and scientific expertise and research.
The Iraqi side thanked the Kingdom for its initiative in studying the implementation of customs ports, which will facilitate bilateral trade.
The two sides reached an agreement on opening border crossings and developing ports, roads and border areas. They also agreed to review an agreement on customs cooperation and study bilateral trade.
The SICC announced the resumption of flights from the Kingdom to Iraq, the opening of a Saudi Consulate there, and the reopening of Saudi chemical manufacturing company SABIC’s office in Iraq.
As part of the promotion of bilateral ties, it was agreed that Saudi Arabia will participate in exhibitions in Iraq, including the Baghdad International Fair, the Basra Oil and Gas Exhibition, and the Business and Investment Forum.
During the SICC’s first meeting, it discussed its priorities for the next two years, implementation of its work and the formation of a working group.
Its second meeting will be held in Iraq’s capital Baghdad in the presence of ministers and senior officials from both countries.


Saudi businesswomen eye greater role in the economy with end to driving ban

The end of the driving ban is expected to help bring an economic windfall for Saudi women. (Shutterstock)
Updated 23 June 2018
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Saudi businesswomen eye greater role in the economy with end to driving ban

  • The historic move is a huge step forward for businesswomen in the Saudi Arabia, says businesswoman
  • A recent survey by the Jeddah Chamber of Commerce indicated that transportation was a major concern holding Saudi women back from joining the labor market

The end of the driving ban will boost women’s financial power and allow them to play a bigger role in economic and social diversification in line with Vision 2030, prominent businesswomen said on Friday.

Hind Khalid Al-Zahid was the first Saudi woman designated as an executive director — for Dammam Airport Company — and also heads the Businesswomen Center at the Eastern Province Chamber of Commerce and Industry. 

She sees the historic move as a huge step forward for businesswomen in the Kingdom.

“Women being allowed to drive is very important; of course this will help a lot in sustainable development as the lifting of the ban on women driving came as a wonderful opportunity to increase women’s participation in the workforce,” she told Arab News on Friday, ahead of the end of the ban on Sunday.

She added that women in the job market are under-represented; they make up to 22 percent of the national workforce of about six million according to official estimates. Lifting the ban will help to take women’s representation in the workforce to 30 percent by 2030, she said.

“This is not just the right thing to do for women’s emancipation, but also an essential step in economic and social development as part of the reforms,” she said.

She said that there were different obstacles in increasing women’s participation in the workforce and other productive activities, and the driving ban was one of them. It was a strategic issue that needed to be addressed on a priority basis. With the issue resolved, it would help immensely in giving Saudi women better representation as they would help to diversify the Saudi economy and society.

She said that women could contribute hugely to the workforce and labor market as half of Saudi human resources were female, and unless allowed to excel in different sectors it would not be possible to do better, mainly because of restricted mobility.

A recent survey by the Jeddah Chamber of Commerce indicated that transportation was a major concern holding Saudi women back from joining the labor market.

Nouf Ibrahim, a businesswoman in Riyadh, said: “It will surely boost female economic participation and help increase women’s representation in the workforce immensely. It will also help to reduce the overall national unemployment rate as most of the unemployed are women and many of them are eligible as university graduates.”

She echoed the opinion that the move would help to bring an economic windfall for Saudi women, making it easier for them to work and do business, and thus play a bigger and better role that would help economic and social diversification in line with Saudi Vision 2030.

“Being able to drive from Sunday onwards after the ban is lifted will be a wonderful experience. Earlier we were dependent on a male family member and house driver to take us to workplace, to the shopping center, school or other required places for some work, now we can drive and that will allow active participation in productive work,” Sulafa Hakami, a Saudi woman working as the digital communication manager with an American MNC in Riyadh, told Arab News.

“Saudi women can now share effectively the bigger and better responsibilities,” she said.