Iraq PM heading to India for investment, trade

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BAGHDAD (AFP) –  Iraqi Prime Minister Nuri al-Maliki is to visit India, officials said Wednesday, to push for investment in much-needed reconstruction as New Delhi looks to secure critical energy supplies.

The premier's three-day trip to New Delhi and Mumbai, the first by an Iraqi leader since the 2003 US-led invasion ousted president Saddam Hussein, comes on the heels of a visit by Indian Foreign Minister Salman Khurshid to Baghdad in June.

But the prospects of luring foreign investment to Iraq have been complicated as the country has been hit by its worst violence since 2008, with the interior ministry describing Iraq as a "battleground".

Maliki will set off on Thursday with a delegation including the ministers of oil, health and agriculture, the head of Iraq's national investment commission, and several advisors.

He is due to meet with his Indian counterpart Manmohan Singh, as well as India's President Pranab Mukherjee and other top officials and leaders, according to Suresh Reddy, India's envoy to Baghdad.

"It is a very important visit," Maliki's spokesman Ali Mussawi told AFP. "It will mark a major change in relations between Iraq and India, a big step forward."

Mussawi said discussions would focus on energy, but also housing, healthcare, education and railways.
"Naturally ... economic considerations would be a big part of bilateral discussions," Reddy said.

"Since energy is of critical importance to Iraq, and India being dependent on imported energy, so energy would constitute a very important component of the discussions."

"But it's not just trade alone."

Reddy said Indian exports to Iraq totalled around $1.3 billion in 2012, up from $740 million in 2011, while Baghdad's exports to India -- the vast majority of which were oil -- totalled more than $20 billion last year, compared to around $9 billion in 2011.

Iraq, which currently exports around 2.3 million barrels per day (bpd) of oil, is looking to dramatically boost its energy output, with officials aiming for overall production capacity of 9 million bpd by 2017.

Baghdad is almost entirely dependent on oil sales for income, and while efforts to boost energy production have resulted in a significant increase in output, steps to diversify the country's economy have sputtered.

India, meanwhile, has made clear its requirement to secure energy supplies to drive economic growth and development, with its dependence on Iraqi exports increasing as sanctions have limited Iran's oil sales.

While in Baghdad in June, Khurshid insisted that India also wanted to promote investment in other fields in Iraq.

But whereas firms from the West, Turkey, South Korea and China have sought to win major government contracts in Iraq as Baghdad looks to restore its war-battered infrastructure and dilapidated economy, Indian companies have been noticeably absent.

Considerations of investment in Iraq have been complicated by a marked spike in violence in recent months that authorities have failed to stem.

More than 1,000 people died as a result of violence last month, the United Nations said, the highest such figure since 2008, and more than 400 have been killed already this month, according to an AFP tally.

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Baghdad (IraqiNews.com) The Premier, Nouri al-Maliki, will conduct an official visit, which will last for four days, to India on next Thursday in response to an official invitation from the Indian PM.

A statement by Maliki’s office received by IraqiNews.com “Maliki will conduct negotiations with the Indian President and PM to discuss upgrading the mutual cooperation in the political and economic fields in addition to security, anti-terrorism efforts, oil, energy, agriculture, trade, water resources, health, education and information technology fields.”

“Maliki will also meet a number of other officials and businessmen,” the statement added.

“Ministers of oil, Agriculture, Health will accompany Maliki in addition to head of Investment Committee, a number of Deputy Ministers, Advisors and businessmen,” the statement concluded.

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[ltr]Baghdad (IraqiNews.com) The Premier, Nouri al-Maliki, headed to India in a formal visit. [/ltr]

[ltr]An informed source stated to Iraqi News (IraqiNews.com) “Maliki accompanied by the Oil, Agriculture, Health Ministers and the Investment Commission in addition to some undersecretaries and investors, headed to India for several days.” [/ltr]

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Aug 22 (Reuters) - Iraqi Prime Minister Nuri al-Maliki expects to finalise a deal to sell India more crude oil during a visit to New Delhi over the next few days, Maliki said on Thursday.



Iraq was India's biggest supplier of crude in June, pipping Saudi Arabia to the top slot, while imports from Iran, which used to be India's second-biggest supplier, have slumped due to sanctions.



Indian energy companies are also interested in Iraqi oil exploration and refinery projects and Maliki's four-day visit may see in some preliminary agreements on Indian investments in the increasingly important OPEC oil producer.



"Iraq welcomed this desire by India to initiate this cooperation in the energy area which includes a deal ... to supply India with oil," Maliki said at a press conference in Baghdad before leaving for India.



India's imports of crude oil from Iran have more than halved from a year ago, hitting just 140,800 bpd in June, with Essar Oil the only remaining Indian client of the sanctions-hit country.



Tensions between Iran and Iraq have simmered for decades, spilling into outright war during the 1980s, but they are now focused on the battle for market share as Iran struggles with the impact of western sanctions on its sales.



The United States and European Union have made it increasingly difficult for Iran to sell oil by imposing sanctions on finance and insurance as they target funding for Tehran's controversial nuclear programme.



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Breaking News … Maliki arrives in India

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[ltr]Baghdad (IraqiNews.com) The Premier, Nouri al-Maliki, has arrived in India.[/ltr]
[ltr]The Semi-official Iraqiya Satellite Channel reported “Maliki has arrived in the Indian Capital, New Delhi, in an official visit that will last for four days.”[/ltr]


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New Delhi, Aug 23 IANS) India said Friday it is keen to elevate ties with Iraq - its second largest supplier of crude oil - from that of a buyer-seller to a broad-based one involving equity partnership in oil production and joint ventures in oil exploration.

This was conveyed by President Pranab Mukherjee to visiting Iraqi Prime Minister Nouri Kamil al-Maliki who called on him at Rashtrapati Bhavan. Maliki is here on a four-day visit, in the first such high-level bilateral visit in 38 years.

Mukherjee also said that India remains committed to assisting Iraq in the process of rebuilding its infrastructure and institutions. Indian entrepreneurs and Indian industries are eager to engage with Iraq, according to a Rashtrapati Bhavan statement.
Mukherjee said India cherishes its cordial and friendly relations with Iraq and touched upon their historical ties.

"Thousands of Indians undertake annual pilgrimage to the Holy Shrines of Najaf and Karbala. With the emergence of democracy in Iraq, relations between the two countries are entering a new phase," the statement said.

Mukherjee said: "Iraq has become India's second largest crude oil supplier. This is a mutually beneficial partnership. India desires to elevate the relationship from a buyer-seller into a broad-based one with equity partnership in oil production, joint ventures in oil exploration, petrochemical complexes, fertilizer plants...."

He said the different MoUs to be signed during Iraqi PM's visit would establish the institutional framework to enhance co-operation between the two countries.

The president said India has been a committed partner in Iraq's progress and development and will remain so as Iraq undertakes its reconstruction and rebuilding efforts.

"India remains committed to assist Iraq in the process of rebuilding its infrastructure and institutions. Indian entrepreneurs and Indian industries are eager to engage with Iraq."

Maliki "warmly reciprocated the president's words and said India and Iraq were two friendly countries seeking to strengthen their relations and maintain a high level of contacts".

He said India and Iraq complement each other. "India needs energy while Iraq needs investment to generate employment."

He said India's experience in democracy has been applauded throughout the world and there is much that Iraq can learn from the Indian experience, the statement said.

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New Delhi, Aug 23 (ANI): Iraqi Prime Minister Nouri al-Maliki, who is on a four-day state visit to India, was given a ceremonial reception at the Rashtrapati Bhawan here this morning.

He was received by Prime Minister Dr. Manmohan Singh.

He inspected the guard of honour and also met members of the Indian Cabinet.

Nouri al-Maliki, who is accompanied by a high-level delegation, including ministers, senior officials and Captains of Industry, will call on President Pranab Mukherjee and Vice-President Mohammad Hamid Ansari.

He will hold bilateral talks with Dr. Singh, who will also host an official banquet in honour of the visiting Iraqi leader today.
His other engagements would include meetings with the Leader of the Opposition in Lok Sabha, Sushma Swaraj, and External Affairs Minister Salman Khurshid.

Prime Minister Maliki will attend a business luncheon meeting jointly organised by the three business chambers, FICCI, CII and ASSOCHAM.

In addition to New Delhi, Prime Minister Maliki and his delegation would also be visiting Agra and Mumbai.
This is the first Head of Government-level visit between the two countries since 1975 when the then Prime Minister Indira Gandhi visited Iraq.

India and Iraq enjoy time-tested, warm and friendly ties, growing cooperation in different fields, including hydrocarbons, agriculture and food security, water resource management, education, infrastructure development, pharmaceuticals and medicare, and information technology.

Iraq has emerged as India's second largest crude oil supplier with bilateral trade in excess of USD 21 billion in 2012-13.
Both countries are committed to enhance their cooperation in energy sector from the buyer-seller to a more broad-based one through mutually beneficial participation in oil exploration, refineries, petrochemical complexes and fertilizer plants. (ANI)

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