Economic Developments in Baghdad
On Thursday, Atheer Al-Ghariri, Iraq’s Minister of Commerce, reaffirmed the nation’s commitment to bolstering Arab economic cooperation.
During his participation in the 115th session of the Economic and Social Council of the League of Arab States, Al-Ghariri articulated Iraq’s dedication to engaging actively in international forums, particularly those organized by the League of Arab States. He emphasized the importance of the Economic and Social Council in this engagement.
The council deliberated on several significant topics, including cybersecurity and artificial intelligence, as well as support for the Palestinian cause. Additionally, it addressed essential economic issues related to the enhancement of joint Arab trade, the activation of the customs union, and the removal of customs barriers between Arab nations. Such measures are aimed at increasing intra-Arab trade volumes and strengthening the Arab bloc’s capacity to tackle prevailing economic challenges.
Furthermore, Al-Ghariri noted that the council considered preparations for the forthcoming Arab summit, which is scheduled to take place in Baghdad, with Iraq presiding over the Economic and Social Council’s proceedings. He reiterated Iraq’s commitment to increasing trade exchanges with fellow Arab countries.
Highlighting the economic relationship, Al-Ghariri indicated that the United Arab Emirates stands as Iraq’s primary trade partner, with bilateral trade amounting to $23 billion.
He underscored Iraq’s efforts to eliminate barriers to trade with other Arab nations through bilateral meetings that occurred alongside the discussions with economic and trade ministers from Tunisia, Palestine, and Jordan. The goal is to facilitate Iraqi exports and enhance cooperative economic relationships.
Moreover, Al-Ghariri reinforced the government’s commitment to fostering the private sector as a pivotal player in the nation’s economic framework. This aligns with the goals of the “government of services,” which prioritizes support for the national economy and the strengthening of trade ties with Arab allies, recognizing that a robust economy is fundamental to successful and sustainable regional partnerships.
