Tag Archive | "Saudi Arabia"

PM calls to end Boycott of Saudi Products


By John Lee.

Newly-appointed prime minister Haidar al-Abadi has called for an end to the boycott by a number of governorates of products from neighbouring countries, including Saudi Arabia.

He urged those provinces to instead develop their economies through regional cooperation, particularly with neighbouring states.

A number of provincial councils, including Baghdad, Basra and Najaf, had taken a decision to boycott products from Saudi Arabia, Turkey and Qatar and gave merchants a month to get rid of the products without affecting the sale of basic commodities.

Meanwhile, a number of other governorates called for boycotting Iranian products, in protest of Tehran’s meddling in Iraqi affairs.

(Source: Al Arabiya)

(Flag image via Shutterstock)

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Saudi Announces 900km Fence on Iraq Border


By John Lee.

Al Jazeera reports that Saudi Arabia has unveiled a 900-km multi-layered fence along its border with Iraq.

The project, which includes five layers of fencing equipped with watch towers, night-vision cameras and 50 radars is aimed at cutting the “number of infiltrators, drug, arms and cattle smugglers to zero“.

In 2009, Riyadh signed a deal with EADS to secure the Iraq border, but with increasing fears over infiltration by anti-government groups and al-Qaeda, the interior ministry expanded the scope to cover all the country’s borders.

In July, Saudi Arabia sent 30,000 soldiers to its border with Iraq after Iraqi soldiers withdrew from the area.

(Source: Al Jazeera)

(Saudi Arabia image via Shutterstock)

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Iran Dominates Market after Occupation of Mosul


By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

After the occupation of the Iraqi town of Mosul by armed groups, including the Islamic State (IS) and the Baath Party — banned by the Iraqi Constitution — prices of food increased significantly, a result of blocked roads and fighting near border crossings, preventing the flow of goods.

Iraq has only two sea routes, the ports of Umm Qasr and Khor al-Zubair, and the following border crossings: Trebil with Jordan; al-Waleed, al-Qaim and Rabia with Syria; Ibrahim Khalil with Turkey; Mundhiriyah with Iran; Arar with Saudi Arabia; and Safwan with Kuwait.

Iraqi markets rely heavily on border crossings for supplies, especially crossings with Turkey, Syria and Iran. The occupation of Mosul reduced access to the crossing of Ibrahim Khalil with Turkey, meaning there are no safe roads from the border to Baghdad and other provinces.

Moreover, the Rabia crossing recently fell out of central government control and into the hands of Kurdish forces. Yet, even before the occupation of Mosul, this border crossing was not favored by merchants.

The three border crossings on the frontiers of Anbar province that link Iraq to Jordan and Syria are basically inoperative, since Iraqi security forces launched a massive military operation in Anbar to eradicate terrorism in December 2014. Crucially, the Mundhiriyah crossing with Iran has remained out of the hands of the mainly Sunni militants since it is located in the majority Shiite Wasit province.

Furthermore, the Iranian government opened two other crossings with Iraq to facilitate the entry of goods. According to a statement issued by the Council of Ministers, the Iraqi government facilitated the procedures for the entry of goods through this crossing to speed up the flow of imports. The government now accepts certificates of origin, provided by inspecting companies, without taking random samples at border points.

Trade between Iraq and Turkey reached $12 billion (14 trillon Iraqi dinars) in 2013, however, on July 2, the Turkish Exporters Assembly said exports to Iraq had declined by 21%, dropping from second to third place, trailing behind the United Kingdom.

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Najaf to Boycott Saudi Goods


By John Lee.

The Provincial Council of Najaf has reportedly decided to boycott Saudi Arabian merchandise because of what it describes as Riyadh’s support for sectarian and terrorist groups fighting in Iraq.

The Media Director of Najaf’s Provincial Council told AIN:

“The merchants who will violate this decision will be punished after the period given to them to sell the current stored Saudi goods.”

(Source: FARS)

(Picture: Imam Ali Mosque, Najaf)

Posted in Industry & Trade, SecurityComments (2)

A Thawing of Relations with Saudi Arabia?


By Padraig O’Hannelly.

Earlier this week, King Abdullah bin Abdulaziz Al Saud pledged $500 million of humanitarian aid from Saudi Arabia to the Iraqi people, to be administered by the United Nations.

This could be a very significant move, given that relations between Iraq and its powerful and wealthy neighbour have been strained for many years.

As recently as March, the Iraqi prime minister accused Saudi Arabia and Qatar of effectively declaring war on his country by funding Sunni fighters in Anbar province.

And while Saudi Arabia denies any such funding, it is generally believed that wealthy individuals in the country are a key source of funding for insurgents, including ISIS.

This development can only serve to improve relations between Iraq and Saudi Arabia and is to be welcomed.

(Flag image via Shutterstock)

 

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Saudi Pledges $500m in Aid


By John Lee.

An official source at the Saudi Arabian Ministry of Foreign Affairs has said that King Abdullah bin Abdulaziz Al Saud has ordered  $500 million of humanitarian aid for Iraqi people affected by the recent tragic events, including displaced people, regardless of their religious, doctrinal or ethnic affiliations.

The United Nations Secretary General has been informed of this aid which will be provided through the United Nations organizations for the Iraqi people only.

(Source: SPA)

Posted in Industry & Trade, Politics, SecurityComments (1)

Video: Regional Economy feels Iraq Conflict


From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Fear of getting caught up in violence and difficulty getting visas to Iraq are affecting businesses in Jordan.

Posted in Industry & Trade, SecurityComments Off

Saudis Traveling to Iraq to be Penalised


By John Lee.

Saudi citizens caught traveling to Iraq will face a fine of SR10,000 ($2,700) and a three-year travel ban, according to a report from Arab News.

Col. Salman Al-Muhaya, director of the Saudi travel section at the Passport Department, said:

“There are exceptional cases where Saudis may be allowed to travel … based on specific regulations. In Iraq, for instance, certain procedures must be followed by Saudis that have to be cleared by ad hoc committees in certain areas.”

(Source: Arab News)

(Flag image via Shutterstock)

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