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Clare » July 29th, 2024
Spain signs EUR 1bn Cooperation Agreement with Iraq
29th July 2024 By John Lee.
The Spanish Export Credit Agency (CESCE) has signed an agreement with Iraq’s Sovereign Guarantees Committee to enhance cooperation between Spain and Iraq.
The €1 billion agreement aims to facilitate Spanish companies in executing mutually agreed projects to support the development of Iraq’s private industry under CESCE’s coverage.
The agreement underscores the commitment of both countries to boost trade, develop business lines, and provide access to Spanish technology and expertise for large-scale projects across various sectors.
CESCE will support the export of equipment, industrial plants, and production lines for key industries in Iraq. The Iraqi government will provide sovereign guarantees for the financing of these contracts, ensuring legal and economic security for the transactions and encouraging investment.
The agreement was signed at CESCE’s headquarters by its Executive President, Fernando Salazar, and Mohammed Sahib Al-Darraji, Technical Advisor to the Iraqi Prime Minister, in the presence of Iraqi Ambassador Salih Husain Ali.
This move aligns Spain with countries like Japan and Italy, which have also signed cooperation agreements with Iraq to strengthen economic and commercial ties. LINK
Austrian Company wins Licence for Compliance Certificates in Iraq
29th July 2024 By John Lee.
The Iraqi Ministry of Planning signed a contract with Austrian company TÜV Austria, granting it a license to inspect and issue compliance certificates for goods imported into Iraq.
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The contract was signed by Dr. Hussein Ali Dawood, head of the Central Organization for Standardization and Quality Control (COSQC), and Firas Mueed Hassan, the company’s authorized representative in Iraq.
Dr. Dawood emphasized the importance of this partnership in ensuring the quality and safety of imported goods, which will benefit Iraqi consumers. He highlighted that TÜV Austria operates in several countries, including Iran, and this collaboration aims to strengthen economic and trade relations with Austria.
Austrian Ambassador to Iraq, Dr. Andrea Nasi, who attended the signing ceremony, noted that the partnership will aid Iraq’s recovery by ensuring the import of quality goods and streamlining import procedures, thereby supporting the Iraqi market. LINK
Source: Dinar Recaps
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