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Posted on 06/25/2002 9:00:45 PM PDT by Bad~Rodeo
RIYADH, — The Kingdom is studying prospects of concluding a free-trade zone agreement with Baghdad, according to a high-level Saudi source. “The decision on the matter comes under the jurisdiction of the political leadership,” the source told Arab News.
The source highlighted the significance of such an agreement to promote inter-Arab trade. “A decision on this matter will be taken after studying economic and political aspects as Saudi exports to Iraq are now restricted by UN conditions,” the source said.
In a previous press statement, Dr. Abdul Rahman Al-Zamil, chairman of the executive council of the Exports Promotion Center, had urged the Saudi government to sign a free-trade agreement with Iraq. Baghdad has already signed free-trade accords with Algeria, Egypt, Lebanon, Oman, Qatar, Sudan, Syria, Tunisia, the United Arab Emirates and Yemen.
Saudi companies presently export foodstuffs, chemicals, medicines, pharmaceutical products and spare parts of agricultural equipment to Iraq as part of the oil-for-food and medicine program approved by the United Nations.
Iraqi Trade Minister Muhammad Mahdi Saleh has said that Baghdad has imported products worth more than $1 billion from the Kingdom under the program introduced in 1996. The source, however, pointed out that a free-trade zone accord with Baghdad under current circumstances would not help increase trade between the two Arab countries as the bilateral trade is now determined by contracts approved by the UN.
The source criticized the UN Sanctions Committee for delaying approval for Saudi exports to Iraq, adding that such delays will lead to Saudi businessmen losing Iraqi contracts under the UN program. The source disclosed that the Council of Saudi Chambers of Commerce and Industry had received an invitation from the Federation of Iraqi Chambers to send a business delegation to Baghdad.
According to Iraqi weekly Sawt Al-Tamim, Iraqi businessmen will visit the Kingdom soon to explore prospects of launching industrial and economic ventures. It said that Saudi businessmen had invited a 17-strong team of Iraqi counterparts to Riyadh for talks on industrial and economic cooperation. Contacts are under way between the two sides to set a date for the trip.
Since it obviously doesn't require anything special in their world to do this, I hereby issue this fatwa:
We declare Jihad on you.
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