Doha: Iraq and the Sultanate of Oman signed a memorandum of understanding (MoU) to develop trade exchange, enhance investment opportunities, increase export volume, and expand economic cooperation between the two countries.

According to Qatar News Agency, the signing took place during the official visit of the Iraqi Prime Minister to Oman. Iraqi Minister of Trade Atheer Dawood Al Ghurairi and Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef signed the agreement.

Al Ghurairi highlighted that the MoU marks a new chapter in bilateral economic relations and will contribute to facilitating the flow of goods and products, promoting the participation of businessmen in joint exhibitions and economic activities, exchanging commercial and economic information, supporting collaborative investment ventures, and opening up to regional and international markets.

He further noted the Iraqi government’s keenness on diversifying its economic partnerships and learning from successful experiences, noting the significant potential within Iraq-Oman relations to achieve substantial growth in the volume of trade exchange.

The statement added that the visit saw the signing of an MoU between the Iraq Stock Exchange and the Muscat Stock Exchange, designed to strengthen cooperation in the financial sector, share expertise, and develop joint investment tools – introducing a new dimension to economic ties between the two countries.