Britain: Time for “economic openness” on Iraq

Iraq and Britain have agreed on the importance of cooperation in the field of investment. All challenges have been discussed and work to overcome them in order to activate the Iraqi labor market to the benefit of the two countries, especially as Britain realized that the time is ripe for investment in Iraq.
Iraq’s ambassador to Britain, Salah al-Tamimi, said investments could boost Iraq after its war on terrorism, which destroyed the infrastructure of a number of cities, adding that it is an opportunity for British companies to cooperate with Iraqi companies. Important projects between Iraq and the countries of the world.
He stressed the need to increase economic cooperation and discuss ways to develop relations at all levels between the two countries and work with trade visas. Then Foreign Minister Ibrahim al-Jaafari spoke about the liberation of the Iraqi territories from “Da’ash”, saying that the period after the “urging” in which Iraq will be open to investment by international companies. Jaafari proposed the adoption of a reconstruction project in Iraq similar to the Marshall Plan and Marshall Plan for the reconstruction of Germany.
The Minister of Trade and Investment in the United Kingdom, “Hans” spoke in turn, saying: The activation of the economy of the two countries is imperative, noting the agreement on various topics, especially in trade and investment, and we will improve this through the International Monetary Fund and UK companies are located in Iraq, PB. “This is an opportunity for the two sides to discuss the possibility of concluding important trade agreements, which is a way of serving Iraq.” Her Majesty the Queen of Britain stands with Iraq and supports it, he said.
He said that Iraq has needed to support other countries such as Britain, especially in the field of oil, stressing that the Iraqi human element is not used properly and we are working on Strengthening the private sector. The Minister of Oil, Jabbar al-Allaibi, discussed mechanisms of cooperation between foreign companies and the Ministry of Oil, indicating that the refineries that have been opened opened many jobs, especially in southern Iraq, an export refinery for petrochemical products and there are other contracts for the establishment of other refineries, calling on the Iraqi private sector to participate in that.
“After serving 20 years in parliament and following war disputes, I went to Iraq, and I found it very possible to invest in Iraq, especially after its resistance and determination to fight and expel terrorism from its territory,” said Jeffrey Liberson, who works on the conflict and war resolution file for Libya and Egypt. Construction and reconstruction The EU can also play such a large role between Britain and Iraq, with the latter having important opportunities for investment.
He stressed that the time is very appropriate to open up to Iraq economically, and companies must take some risk and go to Iraq, and we strongly promote it and the international institutes also see it, and that this conference came at the time of the existence of opportunities in this, even in renewable energy. The oil specialist Majid Jafar said: The power plants are growing within one thousand MW and we have logistical services in Umm Qasr and more than 90 percent of the workforce are Iraqis.
Ziyad al-Zaid of PB said the Rumaila field has been transformed into the world’s largest field for decades of oil and energy, and we believe there will be a 35 percent rise in energy production after a few years. The head of the National Investment Authority Sami Al-Araji reviewed the opportunities presented in all sectors in Iraq.
Minister of Planning Salman Jumaili pointed to the direction of his ministry to cooperate with the private sector, stressing that the government is working to support investment and investors. Former Minister of Industry Mohammed Al-Daraji presented a videotape on Iraq’s external and internal debts and the country’s ability to pay these debts and start development projects, calling on British companies to work and invest in Iraq.
The adviser to Prime Minister Walid al-Halli said that the revitalization of foreign investment will lead to support the economy, and the provision of thousands of jobs.
The President of the Economic Council Ibrahim Baghdadi said: Before 2003 there was no law to invest in Iraq, explaining that the Constitution enacted after that year included two important articles in this regard, namely Article 25, which focused on economic reform and support and development of the private sector, The need to support investment in Iraq.
He referred to the issuance of the Investment Law No. 13 of 2006 and its amendments to be one of the most important investment laws in the Middle East. He pointed out that the government launched a package of important economic reforms, most notably the activation of the four laws. He called on British companies to come and invest in Iraq because we believe that the next 25 years will be the investment competition in the Middle East for us, and will be an Iraqi with distinction.


https://en.economiciraq.com/2017/07/1...nness-on-iraq/