Planning Minister from Kuwait: Iraq may cooperate to benefit from the port of Mubarak

Planning Minister from Kuwait: Iraq may cooperate to benefit from the port of Mubarak


Date of release: 2017/4/14


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Iraq may cooperate with Kuwait to take advantage of its ports, Mubarak al-Kabeer and the Iraqi ports, in the waters of the Gulf, Planning Minister Salman al-Jumaili said.
Al-Jumaili, who is currently visiting Kuwait, said in a press statement that "the priority of Iraq includes the focus on Iraqi ports," noting that "in the event that these ports are not absorbed to the movement of exports and imports to serve the national economy and promote it there will be cooperation in the future with Kuwait to benefit from the port of Mubarak Al- .
He stressed Iraq's keenness to grant Kuwait a comparative advantage in promising investment concessions in the markets because of the close ties between the two countries and their geographical proximity.
Al-Jumaili praised the capabilities of Kuwaiti companies at the local and international levels, adding that "Iraq relies on Kuwaiti investors to contribute to the economic development of his country and to achieve the government program as required."
He pointed out that "Kuwait is one of the most important economies in the region," noting that "the promotion of trade between the two countries should be in accordance with the realization of common interests and greater trade exchange, which will contribute to the development of the two neighboring countries."
He pointed out that "Iraq is ahead of the process of reconstruction of the land freed from the clutches of calling," calling on Kuwaiti companies to "invest in the reconstruction process as a promising both sides of trade and investment."
"The Iraqi government has begun to take a package of economic reforms through amending laws and legislation in order to create an attractive environment for foreign investment in order to ensure the expansion of the country's productive base."
"His country's economic reform program focuses on privatization, attracting investment, encouraging the private sector to compete and diversifying exports to help reduce dependence on oil revenues as a single source of national income."
Al-Jumaili pointed out that "the Iraqi economy does not suffer from economic problems, but it was affected in the past years because of fluctuations in world oil prices and the political crises experienced by the country, especially the war on a hasty."
On his visit to Kuwait, he stressed "the importance of this brotherly visit to overcome obstacles to the entry of Kuwaiti companies to invest in Iraq and find the best possible solutions for this and work to increase the volume of trade exchange."
He added that "his meeting with the Minister of Trade and Industry and Acting Minister of State for Youth Affairs Khalid Al-Rawdan discussed how to facilitate the flow of goods, foodstuffs and capital for companies between the two countries and increase visits of Kuwaiti businessmen and investors."
"The visit resulted in the development of an integrated plan to address the obstacles in the next phase by facilitating the acquisition of visas between the two countries and the possibility of entering goods between the land border as well as facilitating the payment of goods."
Al-Jumaili pointed out that he "is aware of the will of the State of Kuwait on the promotion of bilateral economic and trade relations and Kuwait's keenness to stabilize the security situation in Iraq, which will positively affect the promotion of development between the two countries."

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