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Romania could offer Iraq expertise in reforming financial-banking, tax and insurance system

Romania could offer Iraq expertise in reforming the financial-banking, tax and insurance system as part of a project organised together with the United Nations, with a delegation of several Iraqi government officials currently paying a fact-finding visit to Bucharest in this respect.

'What we are doing now is the result of a dialogue that the Romanian Embassy in Baghdad had with the United Nations Development Programme (UNDP) that involves the expansion of such cooperation to arguably the most important area of the economic reform of Iraq, namely the reform of the financial-banking, tax and insurance system. We count on the fact that Romania, in this way, will open new doors to the practical cooperation in this field and others in Iraq, for the support of the development of the bilateral relations and for boosting our presence in a market from which we want a lot for the Romanian companies', Romanian ambassador to Iraq Iacob Prada told a conference on this issue hosted by the Romanian Foreign Ministry.

The ambassador underscored that Romania, before the current project, had given assistance after the fall of Saddam Hussein rule also for reforming the country's Foreign Ministry, a contribution much appreciated in Iraq.

The economic reform programmes director of the Baghdad-based U.N. Agency, Simona Marinescu said Romania sought to offer support in the above-mentioned fields, given that Romania had learnt many lessons during its transition years that could be transferred to the Iraqi partners.

'We focus on the bilateral relation in the economy, on the reform of the banking system, of the tax and insurance system and we'd like to look in detail and learn from Romania's experience - from the manner in which it turned from a centralised economy to a market economy. /.../ Therefore, a delegation such as ours is an important step, because we have come here to learn, to swap experience and also to pave the way for the future cooperation between our friendly governments and between our friendly countries', said Thamir Abbas Ghadhban Al-Ghadhban, chairman of the Advisory Commission of the Iraqi Prime Minister and chief of the Energy Commission of Iraq.

He said there are opportunities in Iraq for the Romanian companies operating in the oil sector and agriculture, the more so since the security climate in Iraq has improved.

Ambassador Prada stressed there are prospects this year for at least doubling the Romanian-Iraqi economic exchanges; the Romanian side hopes that the several-million-dollar contract portfolio obtained in Iraq by Romanian firms operating in hydro-power, energy and construction could exceed a billion dollars this year, he added.

Sursa: http://www.actmedia.eu

Tags: insurance system romanian banking financial could offer reforming romania

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