Baghdad is waiting for a French return to the Iraqi market


2017/10/17 (00:01 PM) - Number of readings: 232 - Number (4043)



Baghdad / Fadia Al-Jawari

Economists predict that France and its companies will return to Iraq to contribute to the reconstruction process, which will be launched after the completion of the task of liberation from the daisy. Experts believe that the recent visit of Prime Minister Haider Abadi to the French capital Paris was to launch the green light for France to return after a long absence.

France was Iraq's most important partner in the volume of trade in the 1970s and 1980s, but its role declined due to economic sanctions imposed on Iraq after its invasion of Kuwait. Since 2004, France has resumed its limited economic activity and Paris has canceled some 4.8 billion euros of its old debt on Baghdad in 2005 and 2008 under the Paris Club.

This amounts to 80 percent of the debt owed to France.

In the year 2015 the level of trade increased somewhat to 1.26 billion euros, and the volume of French exports to Iraq about 430 million euros, which indicates that the share of France in the Iraqi market remained modest, trade with France did not exceed one percent of foreign trade Of Iraq.

A member of the Committee on Economy and Investment Representative Abdelkrim Naqib said in a statement to (the extent) that France "is one of the important European poles and has accumulated experience and has a long history in the field of various investment," adding that Abbadi's recent visit "is a step to open the doors of investment, "He said that Iraq is open to all countries in terms of investment.

He also said that" most of the liberated areas need great efforts to lift the mines, explosive remnants and projectiles planted by them during the fighting, and that the Iraqi government will cooperate with the international community to help Reconstruction.

French companies in Iraq are active in a variety of sectors, including fuel, electricity, transport, the environment, construction, and health.

Economist Bassem Anton believes that Iraq has old historical relations with the French side, whether diplomatic or economic, and adds in a statement to (range), "The French side was neutral in its positions on Iraqi issues," but notes that "French businessmen are afraid of coming To Iraq despite the numerous calls from the Iraqi side because of the unstable security situation. "

He added that "Abbadi's visit to France is positive and will open doors for investment in various sectors as a reassuring step for the French side, noting that the French companies" will have priority in the reconstruction of liberated cities and in other areas in different provinces, "noting that" the French side has been before him "He said, noting that" French companies have open areas for investment and have already opened their doors to invest in 10 sectors.

The most important of which is the industrial sector, because the Ministry of Industry and Minerals has many projects waiting for investment, estimated at 250 industrial projects, and in the agricultural sector as well. He adds that Iraq has also called on French companies to build schools and universities because the French have a high potential in education, In the banking sector.

The 25 major French companies have announced their readiness to work in Iraq and contribute to its reconstruction in various fields.

During his visit to Paris, Prime Minister Abbadi visited the headquarters of the French Employers Organization (MDF) in Paris and held a discussion session with the heads of major French companies, who informed them that "the liberation aims to achieve stability and the start of a reconstruction campaign for all Iraqi provinces and especially liberated from them, which we succeeded in moving to the stage Construction, "referring to" the government plan and investment opportunities available to French companies to develop their investments and start new projects in the sectors of oil, energy, housing, infrastructure and basic services, telecommunications, roads, industry, agriculture, environment and other vital areas to achieve S economic renaissance looking forward to our people that will invest the available resources and to absorb the labor force and to provide job opportunities and wide. "

For their part, the heads of French companies expressed their desire to work in Iraq and contribute to its reconstruction according to the terms of reference of their companies, and made several proposals and inquiries about investment opportunities and the labor market in Iraq.

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