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KFCCI: Iraq, Kuwait geographical proximity great for investment
January 18, 2017, 8:28 am

Iraq's geographical proximity with Kuwait opens great opportunities for joint investments, Kurdistan Federation of Chambers of Commerce and Industry (KFCCI) President Dr. Dara Jalil Khayat said on Tuesday.

Al-Khayat's remark was made during a meeting which was held with Kuwait Chamber of Commerce and Industry's (KCCI) senior officials.

He said that there are great shared benefits from building joint investments between the two countries; Iraq could make use of Kuwaiti marine ports, while Kuwait could utilize Iraq's Kurdistan's crossings to Turkey Al-Khayat noted that his visit to Kuwait aims at encouraging health, education, real estate and tourism investments in the Iraqi Kurdistan region, especially since economic and trade ties between the region and Kuwait have been progressively improving as a result of the latter's opening of a consulate in Iraq's Kurdistan.

He reassured that the Iraq's Kurdistan's economy has been improving because of the existence of so many developmental projects supervised by international companies.

On his part, KCCI board member Fahed Al-Jouaan said that the meeting focused on establishing a joint trade and investment cooperation with the Iraq's Kurdistan region. Iraq is considered a fertile soil that should be invested in, he added.

He added that bilateral ties with Iraq has been improving since 2012 when the neighboring country was visited by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and later was visited by His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah.

The visits saw the signing of six agreements in: diplomacy, transportation, education and economy.

Source: KUNA

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