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Romanian-Iraqi discussions to identify joint economic cooperation projects

An Iraqi delegation of the Wasit Governorate will discuss in the days ahead with representatives of the private sector and with those of Romanian state-held companies in the portfolio of the Ministry of Economy, Trade and Business Environment (MECMA) in view to identify the opportunities for some joint projects of economic cooperation.

According to a MECMA press release, Secretary of State Constantin Claudiu Stafie received last week an Iraqi delegation, headed by the President of the Wasit Governorate Council, Mahmooud Abdulridha Al Mujbilee. During discussions, both sides underlined their wish to expand bilateral trade and economic relations based on the traditional ties between the two countries. The Iraqi side appreciated the important achievements of the Romanian industry in Iraq, as well as current opportunities for investments, technology transfer and technical assistance.

'Both sides agreed that the visit of the Wasit Governorate must be followed by organizing some other mutual visits, leading to the initiation of joint cooperation projects, exchange of trade missions of the private sector and to the activation of the Joint bilateral commission, thus creating all the prerequisites for engaging the private partners into actions of bilateral economic cooperation ', MECMA release also points out.

According to MECMA data, commercial relations with Iraq have followed an upward trend in 2009, reaching a historic high of 116 million dollars. Evolution of commercial exchanges this year (the first four months) showed an increase of almost 100 percent compared to same period last year.

Romanian exports to the market in Iraq include mineral products, machines and equipment, electrical devices, timber and wood products, live animals. Balance of trade is exclusively on a plus for Romania, Iraq not having exports of products and services to Romania.

Bilateral economic cooperation has developed on a traditional and significant basis in the period 1975 - 1990, interrupted during the UN sanctions and later resumed, but at a lesser extent, among the most notable projects being those of construction of some highway segments and the project of a tramway line in Duhok (Kurdish Autonomous Region).

Sursa: http://www.actmedia.eu

Tags: cooperation projects economic joint iraqi romanian

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