| 2008: Global economy needs Iraq more than ever- deputy |
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June 11, 2008 The Iraqi deputy prime minister on Thursday stressed the global economy's need for Iraq more than ever before, highlighting the country's richness of natural resources. "Iraq has an abundance of water resources and huge service and economic demands. Therefore, it represents a huge opportunity for investment…The global economy needs Iraq and its resources more than ever before and this is a unique opportunity to work with one of the most resource-rich countries in the world," Barham Saleh said during a speech delivered in the Turkish city of Istanbul during the inauguration of the third Arab-Turkish economic forum. Istanbul hosts the Arab-Turkish economic form in the period June 12-13, with the participation of key figures, including the secretary of the Arab League, Amr Moussa, in addition to delegations from Turkey, Palestine, Syria, Qatar, the United Arab Emirates, Jordan and Yemen. "Iraq welcomes foreign investment and is working hard with private companies to create a favorable climate for investment," Saleh explained. In its recent report on Iraq, the International Monetary Fund (IMF) praised the successes of the Iraqi government in addressing the challenges facing the country, Saleh noted. "The Iraqi government has discussed the issue of government expenditure, which will not be able to meet the country's economic needs. Therefore, we encourage the private sector in Iraq and Arab and foreign countries to help with Iraq's recovery," Saleh said. Turkish-Iraqi economic relations have leapt forward since the convention of the first Arab-Turkish economic forum in 2006 with the participation of several Arab states. Arab investments of nearly $36 billion have been accomplished in Turkey, in addition to trade exchange and joint projects. |