Arar Border Crossing Expected to Generate $Bln in Revenues for Iraq

The Arar border crossing is expected to generate one billion dollars in revenues to Iraq.
The Arar border crossing is expected to generate one billion dollars in revenues to Iraq.
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Arar Border Crossing Expected to Generate $Bln in Revenues for Iraq

The Arar border crossing is expected to generate one billion dollars in revenues to Iraq.
The Arar border crossing is expected to generate one billion dollars in revenues to Iraq.

The Arar border crossing between Iraq and Saudi Arabia will help revive the Iraqi economy and generate some 1 billion dollars in revenues in 2021, said the crossing’s director.

In press statements on Sunday, Habib Kadhim al-Ali said the crossing was officially open for trade and will also be open for travelers after coronavirus restrictions on international travel are lifted.

“Relevant departments have completed all their requirements for the full operation of the border crossing, at full capacity and around the clock,” Ali explained.

He said that all material entering through the border must be officially authorized, meaning they must have an official import permit. No material is allowed to enter without a license or certificate of origin.

The border crossing will become a “huge institution and provide great job opportunities for the residents of Anbar and Karbala provinces, in particular, and for Iraqis in general,” he added.

Customs clearance, transportation companies and the establishment of a commercial exchange area will all take place within Iraqi territory, he continued. “This is a unique experience and will be carried out by Iraqi employees, which will increase job opportunities.”

Revenues will be high and will increase in the coming days, Ali noted, stressing that the border crossing will become a gateway for the Arab Gulf states and Egypt to export their products and goods to Iraq.

The State Company for Iraqi Fairs and Commercial Services has launched the Iraqi fairs and import licenses through the Arar border crossing, he said.

The director said the company will start practicing commercial activity and entering the consignments as soon as the goods are shipped from Saudi Arabia, which has been very flexible to avoid any delays and ease the flow of work.



China's SAIC, Huawei to Partner in Developing New Smart EVs

FILE - Chinese men hand out national flags during national day holidays near a Huawei pop up store in Beijing, Oct. 2, 2024. (AP Photo/Ng Han Guan, File)
FILE - Chinese men hand out national flags during national day holidays near a Huawei pop up store in Beijing, Oct. 2, 2024. (AP Photo/Ng Han Guan, File)
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China's SAIC, Huawei to Partner in Developing New Smart EVs

FILE - Chinese men hand out national flags during national day holidays near a Huawei pop up store in Beijing, Oct. 2, 2024. (AP Photo/Ng Han Guan, File)
FILE - Chinese men hand out national flags during national day holidays near a Huawei pop up store in Beijing, Oct. 2, 2024. (AP Photo/Ng Han Guan, File)

Chinese automaker SAIC Motor said on Friday it would partner with tech company Huawei to develop new "globally competitive" smart electric vehicles.
The tie-up sees yet another state-owned automaker betting on partnerships with Huawei, which has risen to prominence as a supplier of smart driving technologies, to boost EV sales, Reuters reported.
"The strategic cooperation between SAIC and Huawei will further leverage their respective advantages and promote China's automotive industry to a new level in the intelligent era," SAIC said in the statement.
The deal signed on Friday provides for the two companies to cooperate strategically on manufacturing, supply chain management and sales services, SAIC said in a statement, without revealing the marquee of the co-developed lineup.
The state-owned automaker reported a decline of 20% last year in overall vehicle sales, amid a brutal price war and bruising competition in the world's largest auto market.
Its venture with Volkswagen saw sales down 5.5% while SAIC-GM's sales slumped 56.5%.
SAIC, hit with the EU's steepest extra tariffs of 35.3%, also suffered a slide of 14% in overseas shipments in 2024.
The deal adds to Huawei's expanding partnerships with state-owned automakers such as Changan, Dongfeng and BAIC Motor.
Changan set up a joint venture with Huawei and battery maker CATL in 2022 to make Avatr EVs, the sales of which more than doubled in 2024 on the year.
Dongfeng-backed Seres more than tripled its annual sales of Aito-branded cars in 2024, with the best-selling models equipped with Huawei's advanced driver assistance systems and sold in the tech firm's showrooms nationwide.
Huawei and BAIC launched their first EV under the joint brand Stelato in August.