Deputy: Iraq has begun investing its third largest natural wealth

Information / private… Representative Mudar Al-Karawi confirmed, on Sunday, the start of a strategy to invest in Iraq’s third largest natural wealth.

Al-Karawi said in an interview with Al-Ma’louma, “Iraq possesses huge reserves of phosphate, which is used in various industries, including fertilizers of all kinds, and which constitutes an economic sector whose financial ceilings worldwide reach tens of billions of dollars annually.”

He added, “Despite the huge reserves of phosphate, Iraq imports 60-70% of its needs from abroad, at double prices,” pointing out that “the government has actually begun to adopt a strategy of investing in phosphate, operating its factories, and pumping its production, especially since phosphate represents the third largest natural wealth.” In the country after oil and gas.

He pointed out that “the documented reserves in several regions of Iraq, especially the western ones, indicate that they are sufficient for production for many decades, meaning that we are facing a wealth that will not be depleted in the near term, in light of the presence of dozens of markets to receive it in order to revive agriculture.”

Iraq has huge reserves of phosphate, which are spread in 3 regions, most notably the west of the country, and form the backbone of the fertilizer industry.

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