ID :
128401
Thu, 06/17/2010 - 13:39
Auther :
Shortlink :
https://www.oananews.org//node/128401
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The UAE is interested in boosting its commercial and investment ties with Iraq
Abu Dhabi, June 17, 2010 (WAM)- The Director General of the Ministry of Foreign Trade Abdullah Ahmed Al Saleh has affirmed that the United Arab Emirates is interested in boosting its commercial and investment ties with Iraq, including the Kurdistan Region.
In a speech delivered yesterday in London at the "Kurdistan Region: Gateway to Iraq - Trade and Investment Conference", he said that he expects the diverse and multi-sector investments of UAE companies in the Kurdistan Region to touch US$3 billion during the current year and to reach US$6billion within a few years.
Al Saleh added that UAE oil and energy companies that are investing in the Kurdistan Region are working on increasing their productivity and investments, and that many hotel and airline companies are expected to increase their operations with Irbil.
He referred to the positive outcomes of the visit that was conducted by Sheikha Lubna Al Qasimi, the Minister of Foreign Trade, who headed a large commercial and investment delegation to the Kurdistan Region last May, affirming that the UAE will work on boosting economic and commercial cooperation with Iraq in the best interest of both brotherly countries.
Al Saleh added that commercial ties between the UAE and Iraq witnessed positive developments last year that saw Iraq take up the 11th position globally, and the 2nd in the Arab World, in the UAE's list of trade partners. This was after non-oil trade between both countries increased by 63%, going up from US$3.07 billion in 2008 to US$5.01 billion in 2009.
He added that at a time when UAE exports to the Iraqi market in 2009 increased by %41 in comparison with 2008, reaching US$4.241 billion, Iraqi exports to the UAE market increased by 952% reaching US$778 million. Al Saleh added that these figures call for optimism regarding the future of economic and commercial trade ties between the UAE and Iraq.
He also pointed out that the reform and openness steps that are being undertaken within the Kurdistan Region and the investment opportunities that are available therein, adding that the stability, economic development, and comparatively high income per/capita of the region - in comparison with other parts of Iraq - are all factors that attract Emirati and global companies to invest in the Iraqi province.
Participating in the conference in London, which concludes today, are officials and businessmen from different world countries. The conference aims at boosting the level of investments in the Kurdistan Region and encouraging foreign companies to invest in it. – Emirates News Agency, WAM
In a speech delivered yesterday in London at the "Kurdistan Region: Gateway to Iraq - Trade and Investment Conference", he said that he expects the diverse and multi-sector investments of UAE companies in the Kurdistan Region to touch US$3 billion during the current year and to reach US$6billion within a few years.
Al Saleh added that UAE oil and energy companies that are investing in the Kurdistan Region are working on increasing their productivity and investments, and that many hotel and airline companies are expected to increase their operations with Irbil.
He referred to the positive outcomes of the visit that was conducted by Sheikha Lubna Al Qasimi, the Minister of Foreign Trade, who headed a large commercial and investment delegation to the Kurdistan Region last May, affirming that the UAE will work on boosting economic and commercial cooperation with Iraq in the best interest of both brotherly countries.
Al Saleh added that commercial ties between the UAE and Iraq witnessed positive developments last year that saw Iraq take up the 11th position globally, and the 2nd in the Arab World, in the UAE's list of trade partners. This was after non-oil trade between both countries increased by 63%, going up from US$3.07 billion in 2008 to US$5.01 billion in 2009.
He added that at a time when UAE exports to the Iraqi market in 2009 increased by %41 in comparison with 2008, reaching US$4.241 billion, Iraqi exports to the UAE market increased by 952% reaching US$778 million. Al Saleh added that these figures call for optimism regarding the future of economic and commercial trade ties between the UAE and Iraq.
He also pointed out that the reform and openness steps that are being undertaken within the Kurdistan Region and the investment opportunities that are available therein, adding that the stability, economic development, and comparatively high income per/capita of the region - in comparison with other parts of Iraq - are all factors that attract Emirati and global companies to invest in the Iraqi province.
Participating in the conference in London, which concludes today, are officials and businessmen from different world countries. The conference aims at boosting the level of investments in the Kurdistan Region and encouraging foreign companies to invest in it. – Emirates News Agency, WAM
