Economy News – Baghdad
On Thursday evening, Prime Minister Muhammad Shi’a Al-Sudani highlighted Iraq’s current phase of unprecedented political stability and developmental growth, expressing a strong desire to enhance collaborative efforts with the Czech Republic across trade, investment, energy, and industrial sectors.
During a joint press conference with Czech Prime Minister Peter Fiala, Al-Sudani acknowledged the Czech Republic’s support for Iraq in its battle against ISIS. He stated, “We are grateful for this support, and we see significant opportunities for cooperative initiatives. Our focus is on boosting trade, investment, energy, and industrial ties.”
The Prime Minister further emphasized the launch of a development project that necessitates the involvement of Czech firms at various implementation stages. “We invite Czech companies to explore opportunities within the Iraqi market, particularly in the promising oil and gas investment sectors,” he said.
Al-Sudani also reiterated Iraq’s commitment to meet the Czech Republic’s crude oil requirements, pledging to provide recommendations to encourage new investment ventures between the two nations.
Notably, he remarked, “Iraq is experiencing a significant period of political stability and development. We engaged in discussions across multiple sectors, uncovering numerous opportunities to strengthen cooperation with the Czech Republic.”
In his address, Czech Prime Minister Peter Fiala affirmed the country’s confidence in Iraq as a crucial partner in the Middle East. He noted that Czech companies are eager to expand investments in Iraq, particularly in petrochemicals, dam construction, and other sectors, including the extraction of lithium. Additionally, Fiala mentioned opportunities for exporting training aircraft.
He added, “Economic cooperation with Iraq is on an upward trajectory; we have formally signed a memorandum of understanding for oil imports from Iraq, which holds significant importance for us.”
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