Saudi role in Iraq said welcome
Riyadh Daily 26 December 1988


Riyadh--- Iraq has welcomed Saudi Arabian participation in the private sector to help restore and improve its agrarian economy.

This was stated here today by the Riyadh-based Golden Grass, Inc. (GGI) president Turki Faisal Al Rasheed representative, on his return from Baghdad, where he had met the Iraqi agriculture minister, Karim Hassan Reda and toher officials.

"Iraq needs to expand its agricultural output and improve its agro-economy, while Saudi companies have the required experience and expertise." He said, adding that a congenial atmosphere exist for Saudi participation in this area.

He said as a result of his team's talks with the agriculture ministry officials, it was clear that Iraq would appreciate Saudi investment there in assisting reclamation of agricultural land, water resources and providing other facilities in this sector. Iraq was taking big strides in rehabilitating its entire economic system including improvement in its agricultural output, he added.

Assurances of guaranteed prices were also given by the Iraqi officials to Saudi businessmen, he added.

"We know that the US Commodity Credit Corporation has extended export guarantees of $1.015 billion for increased sales of US commodities to Iraq, which will place a strain on Iraq's trade balance."

He hoped that means would be developed to allow Saudi expertise to help Iraq in overcoming its problems.

Meanwhile, Turki hoped with the sale of Coopers Animal Health, U.K. one of the major animal health firms in the world –the quality and availability of Cooper's animal products in the Kingdom would not be affected.

Golden Grass company are Cooper's sole agents in Saudi Arabia.

GGI with their experience, Turki Added, could provide their expertise to grow many varieties of vegetables, cereals and potatoes for local consumption and export to the European countries and the rest of the world.