Sun. PM TNT News Articles from Iraq 9-17-23




Al-Sudani calls on Indian companies to contribute to implementing the development path

On Sunday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani called on Indian companies to contribute to the implementation of the “development path.”

This came during his meeting today with the Indian Ambassador to Iraq, Prashant Bissai, according to a statement issued by his office.

Al-Sudani expressed the depth of the historical relations between Iraq and India, which maintain many commonalities and opportunities for cooperation in all fields, stressing that the government is in the process of implementing strategic projects, the most important of which is the path of development. He called on Indian companies to contribute to investing in Iraq, noting the need to benefit from Indian experience in the field. Electronic payment and in the construction and operation of hospitals.

For his part, Bissai stressed the importance of Iraq in being one of its largest suppliers, represented by India’s import of Iraqi oil worth $34 billion over the past year, in addition to being India’s seventh trading partner, expressing the desire of his country’s companies to participate in projects in Iraq, most notably health sector projects. .

It is noteworthy that India is asking Iraq for more discounts in the prices of oil supplied to it, similar to cheap Russian oil, which has become the largest supplier of oil to India since May 2022 after Iraq was the first.

The value of the development road project is estimated at $17 billion to connect the “Great Port of Al-Faw” for goods on the southern Iraqi coast to the border with Turkey by extending a railway and road network.




The development road aims to link the port of Al-Faw in southern Iraq, which is rich in oil, with Turkey, turning the country into a transit center by shortening travel time between Asia and Europe in an attempt to compete with the Suez Canal.

The Iraqi government envisions high-speed trains transporting goods and passengers at speeds of up to 300 kilometers per hour, in addition to extending lines to local industrial and energy centers, which could include oil and gas pipelines.

According to the plans, the main transportation roads will be linked to the main port of Al-Faw on the shores of the Gulf through modernizing and building more than 1.2 thousand kilometers of railways and highways linking Iraq to neighboring countries.   link

With the participation of major companies.. an Iraqi-Emirati business forum to discuss investment projects

 Humaid Mohammed bin Salem, Secretary General of the Federation of Emirates Chambers, urged business owners and investors in the UAE and the Gulf Cooperation Council countries to take advantage of the investment opportunities that will be presented during the working sessions included in the first Gulf-Iraqi Business Forum, which is hosted by the Sharjah Chamber of Commerce and Industry during the 26th and 27th days. This September.

The Emirates News Agency (WAM) quoted Hamid Mohammed bin Salem as saying today, Sunday (September 17, 2023), that: “The forum will witness the discussion and presentation of several Iraqi investment projects in various economic sectors, in the presence of more than 350 Gulf and Iraqi figures, representing major companies and investment funds.” Gulf and Iraqi governments.

He added, “The investment opportunities that will be presented to Gulf investors and forum participants are focused on the sectors of agricultural investment, food security, transportation, logistics services, education, medical supplies, health care, energy, renewable energy, electrical connectivity, infrastructure, housing, finance, and banking.”




Bin Salem stressed that the projects and opportunities that will be presented have a high added value and will provide great job opportunities for Iraqis, explaining that “the forum is organized by the Sharjah Chamber in cooperation with the Federation of Emirates Chambers, the Federation of Gulf Chambers and the Federation of Iraqi Chambers of Commerce and with the support of the General Secretariat of the Gulf Cooperation Council countries.” The Gulf aims to raise the level of Gulf-Iraqi cooperation with regard to the private sector, improve Gulf-Iraqi economic relations, and identify investment opportunities on both sides and the laws related to investment and facilities granted to business owners.

The forum seeks to open new horizons and markets for economic cooperation and trade exchange between the two sides and provide opportunities to exchange experiences and opportunities for joint cooperation in the fields of trade and joint projects through bilateral meetings that will be held between Iraq and a number of Arab Gulf countries.

Bin Salem pointed out, “The forum is fully supported by the Together Initiative for Partnerships recently launched by the Federation of Emirates Chambers with the International Development Bank from the Emirate of Sharjah, which hosts this forum, which reflects the depth of the historical fraternal relations that bind the two sides, which will form a solid foundation for strengthening relations.” Commercial and investment services to serve common interests, stressing the existence of a high-level interest in enhancing Gulf investments in Iraq to support the Iraqi economy. link

Source: Dinar Recaps


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