Iraq and the UAE discuss mechanisms for developing investment and supporting the private sector

The Minister of Planning, Muhammad Ali Tamim, received today, Monday, the Ambassador of the United Arab Emirates to Iraq, Salem Issa Ali Al-Qattam Al-Zaabi, and his accompanying delegation.

A statement from the Ministry stated, “The Minister praised the support provided by the UAE to Iraq in various aspects, especially economic, investment, and reconstruction operations for the liberated areas,” noting that relations between the two countries have witnessed great development in recent years, which has been reflected in an increase in the volume of trade exchange.

Tamim called on Emirati companies to take advantage of the promising investment opportunities available in Iraq, stressing the Iraqi government’s keenness and willingness to provide facilities and provide appropriate conditions for the work of the private sector, in order for it to be a strong partner in the development construction process.

Al Zaabi expressed the readiness of the United Arab Emirates to continue its support for Iraq in various fields, indicating the presence of important Emirati investments in the health, oil, and services sectors in many Iraqi governorates, pointing to the growing volume of trade exchange between the two countries to reach approximately (25) billion dollars annually.

During the meeting, the two sides also discussed a number of common files, including facilitating the work of Emirati investment companies in Iraq, signing a number of memorandums of understanding and cooperation, developing cultural relations, and enhancing economic cooperation at the comprehensive level between the two countries.

The Minister received an official invitation from the UAE government to attend the government summit that will be held in Dubai in mid-February of next year 2024.

Source: National Iraqi News Agency


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