The agreements were signed as part of the meetings of the Saudi-Iraqi coordination council.
They also inked deals on investment and education, reported the Iraqi news agency.
An Iraqi delegation, led by Finance Minister Ali Allawi, had arrived in Saudi Arabi on Sunday for an official visit.
The Saudi-Iraqi coordination council had convened on Sunday and will hold further meetings on Monday.
Prime Minister Mustafa al-Kadhimi was due to arrive on Monday but his trip was postponed after Custodian of the Two Holy Mosques King Salman bin Abdulaziz was admitted to hospital for medical tests.
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