Planning Minister of Kuwait: Iraq might cooperate to take advantage of the port of Mubarak.

2017/4/14 11:46


The planning Minister, Salman Al-jumaili, that Iraq might cooperate with Kuwait to take advantage of its port Medgidia and adjacent Iraqi ports on the Gulf.

Jumaili said-who visits Kuwait right now-in a press statement that "Iraq include priority focus on Iraqi ports", stating that "if not to accommodate those ports for the movement of imports and exports for the national economy and promote the service there will be future cooperation with Kuwait to take advantage of the port of Wilmington.

Iraq keen to give Kuwait a comparative advantage in promising investment privileges in the markets due to the close relations between the two countries and geographical proximity.

He praised jumaili "capabilities of Kuwaiti companies on local and global levels," adding that "Iraq is counting on Kuwaiti investors to contribute to the economic development of his country to achieve the Government program as required.

He said that "Kuwait is one of the most important economies in the region," Noting that "promoting trade between the two countries should be in accordance with common interests and greater trade to boost development in neighbouring countries."

He noted that "a future Iraq on reconstruction of the territories liberated from the clutches of ISIS" calling on Kuwaiti companies to "invest in reconstruction as a promising trade and investment sides."

The planning Minister said that "the Iraqi Government began to take a package of economic reforms through amending laws and legislation in order to create an attractive climate for foreign investment in order to ensure a broader base of productive country."

The country's economic reform program focuses on privatization and attracting investment and encouraging the private sector to competition and export diversification in order to contribute to reducing dependence on oil revenues as the sole supplier of national income.

Jumaili was drawn to "the Iraqi economy suffer from economic problems but it was affected in years past due to fluctuations in world oil prices and the country's political crises, particularly the war on ISIS.

And on his visit to Kuwait emphasized "the importance of this visit to overcome obstacles to entering the Kuwaiti companies to invest in Iraq and to find the best possible solution for that and work to increase the volume of trade.

"The meeting with Minister of trade and industry and Minister of State for Youth Affairs Khaled Al-rudhan Agency discussed how to facilitate the flow of goods and foodstuffs and capital for businesses between the two countries and increasing visits of businessmen and Kuwaiti investors.

He stated that "the visit yielded an integrated plan to address constraints in the next stage through easier access to visas between the two countries and the access of goods between land border as well as facilitate pay goods."

Jumaily pointed out that "the State of Kuwait will touch on strengthening bilateral economic and trade ties, Kuwait's keenness on the stability of the security situation in Iraq which will be reflected positively on the promotion of development between the two countries."