Iraq, UAE agree to increase trade exchange
The Iraqi Prime Minister, Mohammed Shia Al-Sudani and the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan. Photo: The Peninsula Qatar
Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, discussed a few days ago ways to enhance political, diplomatic, economic and commercial cooperation, with the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, according to a press statement issued by the Prime Minister’s press office.
The meeting between Al-Sudani and Al Nahyan addressed several regional and international issues and the importance of developing various aspects of bilateral relations, the statement mentioned.
Both sides agreed to develop the framework regulating bilateral trade between the two countries, and transform it into a comprehensive partnership, to achieve a broader economic integration between Iraq and the UAE, the statement clarified.
Al-Sudani and Al Nahyan agreed to activate the economic diplomacy and to advance economic growth rates in general, the statement elaborated.
The two sides agreed to support existing and future Emirati investments in Iraq, open horizons for new partnerships, and address challenges by turning them into opportunities that benefit the economies of both UAE and Iraq.
The two countries will also work to raise the levels of trade exchange and build on the significant growth witnessed in intra-trade over the past years, as bilateral non-oil trade reached about 17.5 billion USD in 2022, the statement explained.
Both Al-Sudani and Al Nahyan agreed to expand and develop the bilateral cooperation in the fields of health, tourism, culture and sports, due to their importance in strengthening and developing the relations between the two countries.