Economic Development between Iraq and Morocco
On Thursday, Iraqi Foreign Minister Fouad Hussein emphasized the necessity of advancing economic and investment relations between Iraq and Morocco.
A statement from the Iraqi Ministry of Foreign Affairs detailed that Hussein, who also serves as the Deputy Prime Minister, convened with Morocco’s Minister of Economy and Finance, Nadia Fattah, in Rabat. The discussions focused on identifying pathways to bolster economic and investment collaboration between the two nations.
During the meeting, Minister Hussein highlighted the significance of nurturing these bilateral economic ties and underscored the need for a cohesive strategy with established foundations to facilitate this development. He noted the considerable opportunities for cooperation and outlined Iraq’s future economic plans, particularly in the gas sector, where the country aims to achieve self-sufficiency by 2028-2029.
The statement further indicated that Hussein addressed Iraq’s initiatives in banking, financing, industry, and tourism. He expressed admiration for Morocco’s achievements in renewable energy, asserting that enhanced collaboration in this sector would substantially benefit the Iraqi economy.
Hussein also mentioned the establishment of various joint project frameworks aimed at fostering mechanisms for collaboration between the two countries. He stressed the importance of convening the Iraqi-Moroccan Joint Committee and organizing a business forum in Baghdad to strengthen the role of the private sector in both nations.
The Moroccan Minister acknowledged Hussein’s commitment toward Iraq’s national strategy and commended the comprehensive work plan currently being implemented. She outlined potential areas for future cooperation and emphasized the necessity of creating effective mechanisms to enhance economic and investment relations between Iraq and Morocco.
In conclusion, Minister Hussein extended an invitation to the Moroccan Minister of Economy and Finance to visit Baghdad, aiming to further advance dialogues and enrich bilateral relations between the two countries.
