Iraq and Kuwait to discuss mechanisms for achieving economic complementarity

11:52 2017 GMT Thursday April 13

Elaf» London:

Looking for Iraq and Kuwait currently sufficient commodity requirements between the two countries economic integration and joint industrial zones, free trade and the signing of agreements for technical and economic and trade cooperation.

This came during talks in Kuwait said Iraqi Planning Minister Commerce Secretary Salman jumaili agency with Kuwaiti Commerce and Industry Minister Khaled Nasser rudhan noted that Iraq is an important and promising market where capacity has human and economic and technical which makes him eligible for export.

Calling on the need to lift all obstacles to export the materials and products originating in Iraq to the Kuwaiti market to balance the business relationship between the two countries and the common interest .

Raising the barriers to entry of Iraqi businessmen to Kuwait Jumaili stressed the need to improve the business environment between the two marketing outreach to attract investment and economic opportunities and encourage Iraqi businessmen working with Kuwait. Noting that the most important point in this area is to raise the barriers to entry for businessmen, traders and industrialists Iraqis into Kuwaiti territory.

Explaining that the issue of visa to Kuwait an important impediment to the development of economic and trade relations between the two neighboring countries deny Kuwait of economically important opportunities where these barriers were the cause of the failure of the Kuwaiti economic activity in Iraq, while other countries invested that void and managed to achieve major gains .

The Iraqi Minister said his Government has the political will and institutions of the Iraqi decision to develop a relationship with Kuwait. Noting that the relationship with Kuwait as much as imposed by the necessities of algosiasih it at the same time, in response to the Iraqi people cherish the loving feelings for the Kuwaiti people .

Jumaili said that Iraqi Government Management heading into the legislative and technical barriers that prevent the development of mutual trade and investment between the two countries and activate transit trade through to secure and develop the roads between Iraq and Kuwait and the by the geographic countries including Jordan, Syria, Turkey and Iran. International will make Iraq a regional and international security environment.

The Iraqi Minister noted that this year will see folded page organization ISIS and terrorism in Iraq forever. Noting that this will contribute to a promising economic and investment environment so fitting that Kuwaiti moves now and before it's too late to have them attend in future economic and prosperous Iraq.

Noting that there is a comprehensive international will be Iraq environment for regional and international security is one of the pillars of security and stability to the region and the world. He praised Kuwait's efforts in formulating plans for developing the infrastructure of road link between Iraq and Kuwait promised this important gesture in the activation and activate the line trade between the two countries wishing access to activate trade exchange and promote mutual investment and strive to establish successful projects that will promote the economic reality for both countries as they move about the media library in a press statement received reading «elaf» Thursday.

Kuwait to invest Iraq site to access the region For his part, Kuwaiti Minister of Commerce and industry of the country sought to invest the geographical location of Iraq to open doors to trade through it to Iran and Turkey, Syria and Jordan and then across to world markets in Asia and Europe. .

He said his country is open to full and Iraq seeking to sign agreements for technical and economic and trade cooperation with him. He appreciates what Iraq owes from the human and economic and technical viability to be economically leading countries. He noted that opportunity available to achieve a fruitful and constructive and economic integration between Iraq and Kuwait . Modest bilateral trade volume between Iraq and Kuwait The Kuwaiti Minister acknowledged the modest bilateral trade volume between Iraq and Kuwait compared with the volume of trade with other countries bordering both countries.

Stressing the need for mutual pursuit to develop their trade and investment economic and human and geographical features for the two countries to serve the economic revival and the development of regional economic cooperation .

The Kuwaiti Minister said that he had received instructions from Amir of Kuwait sought to emphasize economic and investment relations development and strategy with Iraq as well as his interest in multiple opportunities in the Iraqi market, such as investment in the oil and gas industry and religious tourism, stressing the need to allow Kuwait to become a conduit for visitors to the citizens of the Arab Gulf States and across Asia to holy sites in Iraq as in the past when delegations and visitors of the Holy places in Iraq in Kuwait on a trip coming back .

Joint free trade zones and industrial Woabdi the Kuwaiti side wished to study economic and investment and industrial projects in Iraq at the beginning of the weave an integrated strategy between the two countries in industrial areas as well as the possibility of joint industrial zones as well as common areas of free trade between the two countries .

At the end of the meeting, the two sides noted that changes in the global oil market reflected negatively on the economic situation in the region and to Iraq and Kuwait dramatically asserting that called for rapid action to prepare and implement plans and actions that will diversify and diversify economic activity to avoid imbalance created by low oil prices.

Stressing that integrative and collaborative joint action between the two countries has become one of the necessities of the stage .

The latest statistics for altbadi size of trade between Iraq and Kuwait last year pointed to the arrival at 2.5 billion dollars a year. she explained that the line graph of the Iraq-Kuwait relations rose to witness enter 400 trucks per day from Kuwait to Iraq in addition to using the Iraqi soil to store goods coming from Kuwait.

The Iraqi Government lifted the ban on signal by 2015 not to dispose of property and Kuwaiti territory in Iraq with the possibility of reciprocity to restore this entitlement Act property owners as they see and give freedom to the Kuwaiti citizen the right to own property and invest in Iraq .

Iraqi-Kuwaiti relations in recent years have seen a marked improvement on the political and economic levels.