Riyadh, April 01, 2021, SPA -- His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, and Prime Minister of the Republic of Iraq Mustafa Al-Kadhimi, held an official talks session on Wednesday at the Royal Court in Al-Yamamah Palace, Riyadh. A joint statement was issued as follows: Emanating from the firm and historical fraternal ties and bonds that bind the two brotherly countries and peoples of the Kingdom of Saudi Arabia and the Republic of Iraq, and to enhance the relations between them on firm foundations and principles, topped by Arab and Islamic brotherhood, good neighborhood and common interests, and in response to the gracious invitation of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia, His Excellency Mustafa Al-Kadhimi, the Prime Minister of the Republic of Iraq, paid an official visit to the Kingdom of Saudi Arabia on 3/31/2021. A session of official talks was held between His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, and His Excellency Mustafa Al-Kadhimi, Prime Minister of the Republic of Iraq. The meeting dealt with prospects of bilateral cooperation between the two brotherly countries and ways to enhance them in all fields. They also exchanged views on issues of concern to the two countries at the regional and international arenas, in a way that contributes to supporting and enhancing security and stability in the region and the world at large. The two sides praised the results of the virtual meeting that took place between the Custodian of the Two Holy Mosques and the Prime Minister of the Republic of Iraq on 3/25/2021. The two sides emphasized the importance of the issues discussed and the understanding reached during that meeting, especially with regard to strengthening relations between the Kingdom and Iraq and enhancing the work of the Saudi-Iraqi Coordination Council. They expressed satisfaction with the level of cooperation and coordination between the two brotherly countries, stressing their determination to continue and deepen the aspects of cooperation and coordination between them in order to serve the common interests in various fields, especially political, security, military, commercial, investment, cultural and touristy fields. They hailed the achievements of the Iraqi-Saudi Coordination Council and the agreements and memoranda of understanding concluded, and underlined the importance of urging the ministries and relevant authorities on both sides to follow-up and activate aspects of cooperation in a way that allows optimal investment for all available capabilities and opportunities to enhance integration between the two countries, solidarity in facing common challenges, and build on the positive results previously achieved during mutual visits that took place between officials of the two countries over the last period. As regards the level of bilateral relations, the two sides affirmed their keenness on bilateral cooperation in various fields, activating the agreements and memoranda of understanding reached between the two countries, and urging the ministries and relevant authorities in the two countries to exert more efforts to ensure the speedy completion and implementation of these agreements. They also stressed the continuation of joint cooperation and coordination in facing the threat of extremism and terrorism, as they are considered a threat to the countries of the region and the world. Facing such threats comes through the exchange of expertise and experiences between the relevant security authorities and centers in the two countries. The two sides agreed to continue supporting Iraq's efforts in cooperation with Global Coalition to Defeat the remains of ISIS. The two sides also stressed the importance of joint cooperation in securing the safety of borders between the two countries. The two sides agreed on the following: 1- Establishing a joint Saudi-Iraqi fund with an estimated capital of three billion US dollars, as a contribution from the Kingdom of Saudi Arabia in promoting investment in economic fields in the Republic of Iraq for the benefit of the Saudi and Iraqi economies, with the participation of the two countries' private sectors. 2- Cooperating in the fields of energy and renewable energy as well as activating and accelerating the joint action plan, under the umbrella of the Saudi-Iraqi Coordination Council, with the need to continue coordinating the positions of the two countries in the petroleum field, within the scope of work of the Organization of Petroleum Exporting Countries (OPEC) and (OPEC +) arrangement, with full commitment to the agreement's requirements, the compensation mechanism and all the decisions that have been agreed upon so as to ensure the stability of the global oil markets. 3- Completing of the electrical grid, citing its importance for the two countries. 4- Enhancing coordination in the field of mutual support within the framework of multilateral diplomacy. 5- Promoting investment opportunities for Saudi companies and inviting them to expand their activities in Iraq in various fields as well as in the reconstruction efforts. The Republic of Iraq appreciated the participation of the Kingdom of Saudi Arabia in Kuwait Conference for the Reconstruction of Iraq held on February 12-14, 2018, citing the Kingdom's pledges and contribution during the event. It was agreed that the two sides coordinate to find out ways and aspects of the aforementioned support. Iraq also appreciated the initiatives provided by the Kingdom of Saudi Arabia for the Republic of Iraq in confronting the coronavirus pandemic (COVID-19). The Republic of Iraq also commended the announcement of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, of the Saudi Green Initiative and the Middle East Green Initiative scheduled to be launched soon as they reflect the determination of the Kingdom and the region in protecting the earth and nature in order to achieve the global goals, with emphasis on working with the Kingdom for achieving these initiatives and their goals. Several bilateral agreements were signed, including an agreement to avoid double taxation, an agreement for cooperation in the field of development planning for economic diversification and private sector development and an agreement on financing Saudi exports. Two memoranda of understanding and cooperation were also signed including a memorandum of understanding between the Iraqi Media Network and the Saudi Broadcasting Authority and a memorandum of cooperation between King Abdulaziz Foundation for Research and Archives of the Kingdom and Iraq National Library and Archives. With regard to regional issues, the two sides agreed to intensify cooperation, coordination and exchange of views on issues of common interest to both countries at the regional and international arenas, in a way that contributes to supporting and strengthening security and stability in the region, with the need to keep it away from tensions and what causes such tensions, and the joint endeavor to lay down the foundations of sustainable security and stability. The two sides stressed the security, safety and stability of the region and urged all neighboring countries to adhere to the principles of good neighborliness, common interests and non-interference in the internal affairs of countries. In this context, the Iraqi Prime Minister affirmed supporting the initiative of the Kingdom of Saudi Arabia to end the crisis in Yemen. The Iraqi Prime Minister expressed thanks to and appreciation of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, and the Kingdom's government for the warm reception and hospitality accorded to him and the accompanying delegation. --SPA 04:00 LOCAL TIME 01:00 GMT 0003 www.spa.gov.sa/w1534339