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Iraq
“MINISTER OF TRANSPORT ANNOUNCES 11 MEMORANDA OF UNDERSTANDING TO BE SIGNED WITH SPAIN”
10/21/2024
Minister of Transport Razzaq Al-Saadawi announced today, Monday, 11 memoranda of understanding that will be signed with Spain, while calling on Spanish companies to participate effectively in the next session of the Baghdad and Iraq Reconstruction Exhibition.
Al-Saadawi said in a speech during the launch of the 13th session of the Iraqi-Spanish Joint Committee, “it is appropriate for me to begin my speech with the major shift in Iraq’s new economic and trade policy to deepen the bonds of trade, economic and international cooperation to restore Iraq’s leading role as an important and major axis regionally and internationally.”
He added, “the Iraqi government, headed by Prime Minister Mohammed Shia al-Sudani, has begun working to adopt a policy of economic openness to the countries of the world, in addition to maximizing the role of the private sector in the economic development process,” indicating that “Iraq is witnessing a qualitative shift today through investing in its geographical location, as it will be a cornerstone for the sustainable economy through the land railway link project from Iraq through Turkey and from there to Europe to transport goods and link the Middle East to the European continent.”
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He continued, “Iraq has been linked with friendly Spain by historical relations dating back to the seventies of the last century, perfumed by the bilateral agreement for cooperation in various economic, commercial, scientific and technical fields, signed between the governments of the two countries in 1972, which had a great impact on the contribution of Spanish companies to many economic activities in Iraq, in implementation of the paragraphs that were agreed upon in the last minutes of the previous session held in Madrid in 2013.”
He pointed out that “through the continuation of the committee’s sessions, there will be a number of opportunities available to greatly enhance the level of bilateral cooperation in many commercial, economic and technical fields,” stressing “the need to enhance joint work to increase and diversify the volume of trade exchange between our two countries, as this cooperation will play a major role in strengthening the economy to serve both parties.”
He stated that “Iraq is looking forward to being a strong economic partner for Spain, in addition to the participation of Spanish companies in Iraqi infrastructure projects.”
He added, “today we meet again in the meetings of the 13th session of the Iraqi-Spanish Joint Committee for Economic, Technical and Commercial Cooperation, and we hope that this meeting will have fruitful results.
I would also like to take this opportunity to invite Spanish companies to participate in the reconstruction projects of Iraq, and take its place in the investment map launched by the National Investment Commission in Iraq and achieve effective participation in the next session of the Baghdad International Fair,” noting“the importance of the Spanish government’s support and assistance to complete all the obligations required for Iraq to obtain full membership in the World Trade Organization.”
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Al-Saadawi expressed his “deep thanks and gratitude to the Spanish side, government and people, and its efforts aimed at developing economic and trade relations between Iraq and Spain,” expressing his hope “that these efforts will succeed for both sides to reach common goals serving the interests of the two friendly countries, which the Spanish side requested to be signed during the Prime Minister’s visit to Spain.”
He pointed out that “the agreement included:
First: A memorandum of understanding proposed by the Federation of Iraqi Chambers of Commerce sent to the Spanish side.
Second: A memorandum of understanding proposed by the Iraqi Federation of Industries sent to the Spanish side.
Third: A memorandum of understanding proposed by the Iraqi Contractors Union sent to the Spanish side.
Fourth: A memorandum of understanding proposed by the Iraqi Ministry of Water Resources sent to the Spanish side.
Fifth: A memorandum of understanding proposed by the Iraqi Ministry of Youth and Sports, also sent to the Spanish side.
Sixth: An executive program proposed by the Tourism Authority to activate the agreement signed between the two countries in 1979, also sent to the Spanish side.
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He pointed out that “the position of the memoranda of understanding proposed by the Iraqi side, which the Spanish side requested to be followed up outside the scope of the joint committee, through the Ministry of Foreign Affairs with the relevant authorities, in coordination with their representatives directly, considering that they are outside the scope of economic and trade cooperation, and according to the opinion of the Spanish side, are:
1- A memorandum of understanding proposed by the Iraqi Ministry of Foreign Affairs sent to the Spanish side.
2- A memorandum of understanding proposed by the Iraqi Ministry of Education sent to the Spanish side.
3- A memorandum of understanding proposed by the Ministry of Higher Education and Scientific Research sent to the Spanish side.
4- A memorandum of understanding proposed by the Iraqi Ministry of Culture, also sent to the Spanish side.
5- A memorandum of understanding proposed by the Iraqi Ministry of Justice to the Spanish side.
REINALDO JC
DINAR
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Prime Minister Mohammed Shia Al-Sudani held a meeting today, Monday, with the Chairman of the Egyptian Al-Suwaidi Group of Companies, Ahmed Al-Suwaidi, and a group of directors of Egyptian industrial and commercial companies, in the presence of a number of advisors to the Prime Minister.
During the meeting, Al-Sudani pointed out the expansion of economic cooperation between Iraq and Egypt, especially in partnerships with the Egyptian private sector, stressing that the investment opportunities offered in Iraq, which were received from Arab and foreign companies, exceeded 100 billion dollars, and they reveal the breadth of economic growth at all levels and fields.
The Prime Minister discussed with the Egyptian delegation the study of the economic and financial model of the group in work, and cooperation in the sectors of industry, education, energy, and infrastructure. It also included discussing investment opportunities and partnership in the sector of maximizing petroleum resources, localizing the electrical transformer industry, smart meters that are linked to the electrical grid, and the carbon iron and steel industry.
It was agreed to study the establishment of industrial cities in Baghdad, as the group presented a map of projects that will be studied by the Advisory Board and sectoral bodies.
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