Iraq urges Arab States to prioritise economic relations

Iraqi Trade Minister Dr Khairallah Hassan Babiker has urged Arab states to give priority to economic relations, especially economy, trade and investment to ensure a thriving community and sustainable development in all Arab countries. Iraqi Trade Minister, in a speech to the preparatory meeting of the Economic and Social Council for the 24th Arab summit, said that his country’s presidency of the 23rd Arab summit session sought to strengthen cooperation and integration among Arab countries in the economic and social fields, stressing that Iraq will continue such efforts. He added that despite what has been achieved at the level of the joint Arab action over the past years, these achievements are still far from accomplishing the aspirations of the Arab people, who are fully aware that their countries enjoy considerable resources and capabilities that can guarantee them to live a more prosperous life and a brighter future. The Iraqi Trade Minister called on Arab companies operating in various fields of economy in their respective countries to participate actively in the rebuilding of Iraq and to take advantage of investment opportunities and tenders announced by Iraqi ministries. He explained that his country began several years ago implementing ambitious development plans to offer investment opportunities in all sectors of the economy, noting that Iraq is enjoying an institutional system in the area of investment that can meet all the requirements of Arab investors. Dr Khairallah said today’s meeting is being held two months after the Arab economic and social development summit in the Kingdom of Saudi Arabia, which was a prominent milestone and initiated a new quality in the course of joint Arab action. The economic summit took decisions in all aspects of economic and social development, and if implemented effectively, it will establish a solid base for Arab trade as well as real and influential start to the process of economic and social development in the Arab countries, he said, praising the great efforts made by Saudi Arabia in ensuring the success of the last economic summit. He stressed that the need for urgent action to advance joint Arab action and economic integration. (QNA)