UAE aims to deepen its strategic partnership with Iraq

Baghdad (IraqiNews.com) – The UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, announced that the United Arab Emirates is eager to deepen its strategic partnership with Iraq in different fields, particularly trade and investment cooperation.

During his visit to the headquarters of Iraq’s International Development Bank (IDB) in Dubai, Al Zeyoudi reaffirmed that both countries are eager to expand their economic ties in a way that advances their shared interests and offers more chances for their business communities and the private sector, according to Sky News Arabia.

Al Zeyoudi stated that mutual investment flows and non-oil commerce were positively impacted by Iraq and the UAE’s determination to deepen their economic connections.

The two sides discussed areas of shared interest, the crucial role the IDB has played in bolstering trade and investment ties between the UAE and Iraq, potential avenues for cooperation to increase the potential for successful partnerships between the business communities in the two countries, and approaches to foster cooperation that advance trade and investment in important sectors.

Al Zeyoudi was briefed on the IDB’s plans and what its branch in Dubai achieved during the year and a half of its founding, as it succeeded in managing about 10 percent of the volume of trade exchange between the two countries, which exceeded $27 billion annually.

Al Zeyoudi was briefed about the IDB’s goals and the accomplishments of its Dubai branch in the first 18 months of operation, during which it was able to manage about 10 percent of the total amount of trade between the two countries, which amounted to over $27 billion annually.