U.A.E., Iraq's Kurdistan Region work on wider economic cooperation

ERBIL: U.A.E. and Iraq's Kurdistan Region have are working on expanding and supporting their economic cooperation in different sectors and stressed on the need for opening new investment opportunities for their businesspersons in order to forge strategic partnership that serve U.A.E.-Iraqi relations. The call came during a meeting between a U.A.E. delegation led by Undersecretary for Foreign Trade Affairs at Ministry of Economy, Abdullah Al Saleh, and Kurdistan officials led by Minister of Trade and Industry, Sinan Chalabi. The U.A.E.-Kurdistan discussions came one day before a U.A.E.-Iraqi trade exhibition, co-organised by U.A.E. Ministry of Economy, Dubai's Department of Economic Development and Abu Dhabi Department of Economic Development (ADDED) opens in Kurdistan's capital to showcase joint investment opportunities. Al Saleh is leading a 150-strong delegation representing 54 U.A.E. government departments and major private sector businesses to Erbil for the two-day event which will be officially opened tomorrow. Al Saleh reiterated U.A.E.'s is prepared to enter into joint investments with Kurdistan in order to boost the region's development of sectors such as construction, infrastructure, agriculture and industry. He said that U.A.E. considers Kurdistan as a main gateway for the flow of its investments into Iraqi markets. On his part, Minister Chalabi affirmed that Kurdistan Region welcomes U.A.E. investments in the region's tourism, energy, agriculture, trade and economic sectors. He expressed his government's desire to tap U.A.E.'s relevant world-class experience and expertise. He noted that U.A.E. investors can tap opportunities in Kurdistan's four free zones. According to U.A.E. Ministry of Economy, 112 Emirati companies are operating in Kurdistan Region while trade between the two sides reached US$8 billion in 2013. – Emirates News Agency, WAM