Lubna calls on UAE and Iraq to tap virgin investment potentials
WAM (Emirates News Agency)
Abu Dhabi, 16th Feb. 2010 (WAM) -- H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, stressed today the need for maximizing efforts to increase trade exchange between the UAE and Iraq, capitalizing on the huge virgin investment potentials.
Sheikha Lubna told a symposium on investment in Kurdistan region in Iraq attended by region's Prime Minister Barham Saleh that there were no doubtadequate opportunities for pushing trade exchange to higher levels towards the strategic partnership that fits the aspired ambitions and potentials of the two brotherly countries.''Common ambition for boosting bilateral ties position us before a continued responsibility to work out advanced mechanisms to bolster joint economic and investment cooperation,' she added. Sheikha Lubna considered the UAE as a gateway for Iraq to the future, adding that the UAE is spearheading investment drive in the Kurdistan Region given the unique ability of UAE firm to explore investment offers earlier.
The UAE minister praised economic reforms Iraq is taking despite daunting challenges.
The Iraqi top official expected that oil exports from his region to world oil marketswould flow shortly.He said the region needs more foreign investment particularly in sectors of oil and energy industries to meet local demand for oil derivatives.He described tourism sector in Iraq as ''promising'' but needs more investment.According to him, the region lured investment in tune of over $ 12 billion overthe last three years and is expected to attract more foreign funds in light of the new investment law.
WAM (Emirates News Agency)
Abu Dhabi, 16th Feb. 2010 (WAM) -- H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, stressed today the need for maximizing efforts to increase trade exchange between the UAE and Iraq, capitalizing on the huge virgin investment potentials.
Sheikha Lubna told a symposium on investment in Kurdistan region in Iraq attended by region's Prime Minister Barham Saleh that there were no doubtadequate opportunities for pushing trade exchange to higher levels towards the strategic partnership that fits the aspired ambitions and potentials of the two brotherly countries.''Common ambition for boosting bilateral ties position us before a continued responsibility to work out advanced mechanisms to bolster joint economic and investment cooperation,' she added. Sheikha Lubna considered the UAE as a gateway for Iraq to the future, adding that the UAE is spearheading investment drive in the Kurdistan Region given the unique ability of UAE firm to explore investment offers earlier.
The UAE minister praised economic reforms Iraq is taking despite daunting challenges.
The Iraqi top official expected that oil exports from his region to world oil marketswould flow shortly.He said the region needs more foreign investment particularly in sectors of oil and energy industries to meet local demand for oil derivatives.He described tourism sector in Iraq as ''promising'' but needs more investment.According to him, the region lured investment in tune of over $ 12 billion overthe last three years and is expected to attract more foreign funds in light of the new investment law.