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Maliki calls for China to sign a bilateral agreement for mutual protection of investments

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Maliki calls for China to sign a bilateral agreement for mutual protection of investments within the
July 18, 2011

BAGHDAD (Iba) .. Prime Minister Nuri al-Maliki’s invitation to China to sign a bilateral agreement to ensure the protection of mutual investments in the first step to achieve the strategic partnership between the two countries, stressing that the doors of the Iraqi economy open to the Chinese to re-Aamarhwalastosmar it, wishing touch Houdorasinaa in Iraq in the near future.

Maliki said in a speech today before the Conference of the Iraqi economic cooperation – the Chinese of China means a lot to Iraq in terms of its position in the world and its future in the new international system as a great country which contributes effectively to the growth of the global economy.

He noted that Iraq is seeking to strongly strengthen the common interests with him to build strategic relationships with inter-dependencies in the various economic aspects, expressing his admiration for the great the achievements of economic experience in China that are increasingly important economic and political at the present time to do the pivotal role and responsibilities at the international level .

He said al-Maliki said the Iraqi economy has seen significant shifts on the path of openness, freedom and Aatmadqoy supply and demand mechanisms essential in the economic relations in the form which facilitates the process of integration in the system of international economic, considering that this part of the economic philosophy of the new Iraq, which contributed positively to the achievement of significant growth in many economic indicators.

He noted that estimates indicate that the Iraqi economy will be among the fastest growing economies in the world during the next two years.

He made ​​it clear that there are many investment opportunities that are available in Iraq distributed among the various patterns of different investment sectors, notably direct investment and investment partnerships with public companies, state-owned.

He also showed that oil and gas sector is promising sector in the economy of Iraq, where Iraq has oil reserves of 142 billion barrels and possible reserves exceed its estimates of proven reserves, as well as large reserves of natural gas of up to 126.7 trillion cubic feet, and expected to contribute to investments in this sector the development of a large area in the oil industry in Iraq, through rounds of licensing contracts and the establishment of oil refineries and other industries related to oil and gas sector.

Also pointed out that the electricity sector requires significant investment to double its generating capacity to meet domestic demand through the creation of new generating stations throughout Iraq, with a generating capacity of Iraq in time Alhadharbhdod 7500 MW is nearly half the domestic demand for electric power, which demonstrates the extent of need for significant investment in this area to meet increased demand, is expected to reach by 2015 to 20000 MW.

The housing sector, he mentioned al-Maliki that he is suffering from a lack of which indicates the development plan five-year 2010-2014 to the existence of a need to build two million housing units and infrastructure, has put the Iraqi government through the National Investment Commission a national project to build one million housing units throughout Iraq.

He pointed also to investment opportunities that are available in the transport sector for the construction of roads, bridges, airports and ports, has been to introduce a port of Faw and build a modern network of railways and highways and the rehabilitation of a number of airports and private Bgdadoualmousel, Basra and building Euphrates Airport East Investment.

At the level of the telecommunications sector, Maliki said the Iraqi market is the fastest growing region in the mobile industry, although many of the infrastructure in this sector is still in need of large investments, and available opportunities to invest in wireless communications and Internet services, telephone ground ( optical fiber) in addition to the license in the fourth cellular phone network and to be submitted by the Ministry of Communications to improve the performance of mobile services in Iraq.

He and rely on the industry much as a sector backer for the oil sector in Iraq, there are currently 76 companies generally made ​​up of more than 250 factories and a production line in various industries and the opportunity for rehabilitation and investment in new projects or through investment partnerships between the public and private sectors.

In the sector of agriculture, Maliki said that Iraq is full of potential for large agricultural qualify for food security, especially in grain products, strategy and vegetables, as if the investment of its territory techniques of agriculture and modern irrigation, where available agricultural land vast untapped look forward greatly to exploitation through international experience adopt modern technology.

He continued in the tourism sector, Iraq has a religious tourism and archaeological, recreational and plans during the next ten years to attract fifteen million foreign tourists. Also available in Iraq, opportunities for investment in the sectors of education and health for the construction and rehabilitation of ten thousand primary and secondary schools and 1,200 health centers and more than thirty general hospital and specialist as well to the rehabilitation of many colleges and universities, youth centers, sports and culture as houses that keep pace with global developments in the curricula of education and health services, sports and youth culture and to achieve the desired development goals.

He said al-Maliki in his speech that the Iraqi government created legislation to strengthen the confidence of the Iraqi economy through the provision of legal protection for foreign investment in Iraq through the guarantees provided for in the Investment Law itself in the material guarantees and arbitration, as well as through the safeguards mandated by Iraq’s accession to the Convention on the International Foundation to ensure Investment in 2007 and, finally, through bilateral agreements to ensure and protect investments.

Maliki reiterated his emphasis on seeking to increase economic and investment cooperation with China through the constant pursuit to activate and attract Chinese investment to work in the areas of production of value-added and to benefit from China’s experience in the investment and management of special economic zones to build the Iraqi model that simulates the Chinese experience in this area.

He called on companies and Chinese enterprises to expand steps toward Iraq and to benefit from expectations of high growth of its economy and contribute to the reconstruction and the establishment of strong cooperative relationships with him in the vital sectors of the Iraqi economy, notably energy, housing, industry, agriculture and infrastructure

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