Baghdad agrees with New Delhi to strengthen cooperation in the fields of oil, industry and agricultu

Baghdad agrees with New Delhi to strengthen cooperation in the fields of oil, industry and agriculture


Published 26/08/2013 08:14 AM




Babinaoz / Agencies:
Revealed the Iraqi government for its efforts to promote the frameworks of economic cooperation with India through deepening bilateral engagement between the two countries in key areas of common interest, such as oil, energy, agriculture, water resources management, health and education, while the Minister of Commerce and Industry of India, for the pursuit of his country to study the possibility of using currency local trade exchanges with Iraq to counter the low equivalent exchange for Indian Rbeh, against the U.S. dollar.

He said Prime Minister Nuri al-Maliki in a joint statement with the presidency of the State of India, seen by term following his visit to India that "the company OVL and the Department of Contracts and Licensing petroleum in the oil ministry will begin negotiations on a patch expedition is expected to reach conclusions about them so that the contract revised will contain profitability wage against the dollar barrels of oil equivalent, consistent with the results of the economic model your company OVL ".

Maliki said that "the Indian side welcomed the offer made by Iraq during the last meeting of the Joint Committee on the development of the fields of the Middle Euphrates undeveloped a rump and rump western and Morgan, on the basis of nomination for the oil companies in the public sector Indian and Indian side agreed to study and submit a proposal to the Department of Contracts and Licensing Petroleum negotiations. "

And that "the Indian side proposed agreement standing 10 years to met the needs of crude oil increased Refineries new was confirmed by the Iraqi side to meet the needs of India, and asked the Indian side better conditions, such as the abolition of the requirements of the documentary credit (LC) to pay the dues of crude oil and increase the grace period free from ( 30) to (60) days. was the Iraqi side agreed to consider it after obtaining the relevant government approvals. "

He explained that "the Iraqi delegation and agreed to consider the pre-qualification of the Indian Oil Corporation Limited Oil Corporation Limited project manufacturing industries beyond the extraction," noting that "the two sides agreed to actively explore the potential establishment of urea plant and units of phosphate fertilizers through the use of gas resources natural Iraq as joint ventures in the Qaim area of ​​Anbar province in Iraq. "

Maliki confirmed that "the two sides agreed to establish a joint venture to build a steel plant in Iraq or in India for the production of steel pipes for the purpose of transporting oil in Iraq, and called on the Indian side of Iraq to invest in the project راستريا Ispat Nigam Limited for solid future," adding that "Iraq has welcomed the formulation of company IRCON interest in implementing integrated railway projects in Iraq, including civil works, tracks, electrification, signaling and workshops for production units for rolling trusses and supplies. "

He said the Prime Minister of Iraq that "the two sides agreed to cooperate in the activities of agricultural education and research activities through the signing of a memorandum of understanding constitute the institutional framework for mutual benefit, and agreed to a memorandum of understanding on water resources management to enhance bilateral cooperation in this area is vital for Iraq, which Under the cooperation and exchange of experiences and expertise between the two sides. "


He stressed that "it was agreed to strengthen cooperation in the health sector, including the exchange of cadres of health and medical, nursing and training and participation conferences in both countries and cooperation in the field of pharmacy," noting that "the two sides agreed to identify the education sector to be the main area of ​​mutual benefit and to increase cooperation, The relevant authorities will work to find the necessary modalities in this regard, where there are more than 10,000 students are currently studying in India. "

At the same time, the Minister of Indian Commerce and Industry Anand Sharma in a report published by the newspaper Economk Times of India that "India is considering the possibility of using the local currency in trade exchange with Iraq, in the wake of the face of declining exchange rate of the Indian rupee against the dollar is the U.S.."

He added Sharma said "the issue of payment of cost commercial transactions in local currency will be discussed during the bilateral meetings, to be held between Maliki and Minister Indians," stressing that "the terms of trade common Indian - Iraq up to nearly U.S. $ 21 billion," pointing to "work on the signing of agreements to import huge. "

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