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[size=36]A positive signal from the European Union regarding international investment in Iraq[/size]
Economy | 04:15 - 06/26/2024
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Baghdad - Mawazine News
The European Union revealed, today, Wednesday, that the Iraqi government has achieved progress in international investment.
The European Union Ambassador to Iraq, Thomas Seiler, said in his speech during the launch of the National Investment Commission conference in cooperation with the United Nations Development Program and followed by Mawazine News, “I congratulate the Iraqi state and business leaders on the great Iraqi achievement of signing the Singapore Agreement on Mediation,” indicating that “this The agreement is considered a basic international treaty that seeks to reach a settlement between the conflicting parties.”
He added, "One of the points of importance for the Iraqi government is the development in international investment as well as commercial transactions, taking into account that disputes may arise due to differences between parties across countries. Therefore, when this happens, the parties need an appropriate method to resolve these disputes in an efficient manner and in an appropriate time, and thus mediation." It is the one who does this, as it provides an opportunity for the parties to resolve the problem effectively when disputes arise. It also gives an opportunity for the parties to maintain working relationships, which is consistent with the best interest of investors as well as local companies who seek to move forward with investment operations, which are extremely important for Iraq.
He pointed out that "By signing the Singapore Agreement, Iraq clearly sent a signal about its commitment to developing mediation infrastructure, and therefore this requires the adoption of legislation to enforce mediation operations that occur based on approvals issued by Iraqi courts and are applicable to the parties, as well as the regulations for countries joining this growing agreement, which are Recently, the Kingdom of Saudi Arabia, Turkey, Jordan and Iran joined.
Siler continued, saying, "After Iraq ratified the New York 2021 Convention, we welcome the great efforts to adopt the mediation law, and I believe it will be launched soon."
He explained, "The issue of ratification is extremely important, and therefore the Government of Iraq provides evidence and example of parallelism and cooperation with international legal standards, as well as by adopting these effective alternative dispute resolution mechanisms, as they are very important for promoting investment as well as economic development and stability."
He concluded his speech by saying that "Iraq has made great progress in the United Nations program as well as through international programmes," stressing "the continued support of the Iraqi government in this process."
The European Union revealed, today, Wednesday, that the Iraqi government has achieved progress in international investment.
The European Union Ambassador to Iraq, Thomas Seiler, said in his speech during the launch of the National Investment Commission conference in cooperation with the United Nations Development Program and followed by Mawazine News, “I congratulate the Iraqi state and business leaders on the great Iraqi achievement of signing the Singapore Agreement on Mediation,” indicating that “this The agreement is considered a basic international treaty that seeks to reach a settlement between the conflicting parties.”
He added, "One of the points of importance for the Iraqi government is the development in international investment as well as commercial transactions, taking into account that disputes may arise due to differences between parties across countries. Therefore, when this happens, the parties need an appropriate method to resolve these disputes in an efficient manner and in an appropriate time, and thus mediation." It is the one who does this, as it provides an opportunity for the parties to resolve the problem effectively when disputes arise. It also gives an opportunity for the parties to maintain working relationships, which is consistent with the best interest of investors as well as local companies who seek to move forward with investment operations, which are extremely important for Iraq.
He pointed out that "By signing the Singapore Agreement, Iraq clearly sent a signal about its commitment to developing mediation infrastructure, and therefore this requires the adoption of legislation to enforce mediation operations that occur based on approvals issued by Iraqi courts and are applicable to the parties, as well as the regulations for countries joining this growing agreement, which are Recently, the Kingdom of Saudi Arabia, Turkey, Jordan and Iran joined.
Siler continued, saying, "After Iraq ratified the New York 2021 Convention, we welcome the great efforts to adopt the mediation law, and I believe it will be launched soon."
He explained, "The issue of ratification is extremely important, and therefore the Government of Iraq provides evidence and example of parallelism and cooperation with international legal standards, as well as by adopting these effective alternative dispute resolution mechanisms, as they are very important for promoting investment as well as economic development and stability."
He concluded his speech by saying that "Iraq has made great progress in the United Nations program as well as through international programmes," stressing "the continued support of the Iraqi government in this process."
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