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Iraq Urges Iran to Invest More

10 Nov 2012
Iraq has urged on Iran to make greater its participation and investment in the industries of this country. And invest should be both for private and state owned industries. The call was done in a meeting of experts and senior officials of Iran at the Defense Ministry at the Ministry of Industry and Minerals. There are excellent chances for specialized firms of Iraq to make bigger the local (Iraq’s) industries. Industry and Minerals Deputy Minister Maki Hmoud stated the Iranians that Iraq had many idle industries and it required expertise of Iran to renovate them and return them to action. Hmoud was making appeal to major corporations of Iraq basically corporations which are well skilled in weapons manufacturing and reconstruction. Iran has high rated weapons industries that are also concerned with civilian activities. Iraq is not willing to revive its weapons firms, but Hmoud told that it was seeking Iran’s help to change particularly for civilian use. According to a statement of Homoud, Iraq wishes Iranian industries to diligently take part in the restoration of its firms and utilize the chance recently available to participate in the industrial investment of the country. Hmoud told the Iranians that the entry of electronically and technologically advanced industries of Iran is sure to stable the rehabilitation and improvement of the factories and firms of the Ministry. Iraq is one of the major trading partners of Iran. Iranian industries are among the finest active foreign firms in the country. Bilateral business is estimated at minimum of $10 billion per year. Source: [Azzaman]
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