Publication Date:
Sat, 2003-03-08 03:00
RIYADH, 8 March 2003 — Export contracts awarded by Iraq to Saudi companies have broken the SR500 million barrier in two months, despite war fears, according to Al-Watan daily.
Saudi exporters won contracts valued at SR376.4 million in February, with the total value of contracts in two months reaching SR547 million. Saudi investors’ interest in Iraq is at an all-time high, the paper noted, despite fears of an imminent US-led war.
Competition comes from a Kuwaiti company operating through a group of 60 Gulf investors in Iraq, a Saudi businessman revealed.
The recent registration of 15 Saudi companies brings the total number of Saudi companies in Iraq to 100.
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