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Iraqi traders entering agreements with their Iranian and Kuwaiti counterparts
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Translated by IRAQdirectory.com - [12/14/2006]
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Chairman of the Chamber of Commerce in the Iraqi city of Kirkuk, said that Iraqi traders concluded commercial and economic agreements with a number of Iranian merchants on the sidelines of an exhibition for the reconstruction of Iraq held in Iran at the beginning of last week.
The chairman of the Chamber of Kirkuk, Khalil Ismail Agha, said that high-ranking commercial Iraqi delegation "participated in the conference which was held on the sidelines of the exhibition in the Iranian cities of Tabriz and Kermanshah".
He added that the delegation discussed with the Iranian side "ways of joint cooperation between the Chamber of Commerce and a number of Iraqi traders with their Iranian counterparts, as well as the possibility of developing trade and economic relations between the two countries and ways of participation of Iran in supporting the Iraqi infrastructure through reconstructing a number of economic sectors in the country". Agha pointed out that the Iranian side is interested in" entering the Iraqi market which is considered the main market for importing a large number of goods and commodities and foodstuffs, since Iraq is one of the most important markets that receive such Iranian products". He explained that a number of Iraqi traders "concluded during the exhibition, a number of agreements that will contribute to the arrival of good quantities of different products, which will help to develop the economy and trade exchange between the two neighbors".
On the other hand, a member of the Kuwaiti investors delegation said that the delegation is currently visiting Kurdistan region to discuss investment opportunities and the establishment of a number of important projects in it.
The member of the delegation, Tariq Al-Musawi, of the Kuwaiti public warehouses company, said that the delegation consists of "a number of Kuwaiti companies came to Kurdistan, to explore and discuss investment opportunities in the region".
Al-Musawi said: "We sensed that there are good investment opportunities, and we will sign a preliminary agreement or an understanding memorandum with the competent authorities for the establishment of different storage warehouses, refrigerated, chilled and dry, and a truck parking area". He added: "The intention is to establish an integrated network of storage areas, to give a solution for traders who bring goods to the region". Al-Musawi did not specify the timing of the agreement, or the areas in which they will establish the projects he spoke about.
The delegation of Kuwaiti investors visited Dohuk governorate, and held talks with its governor, Tamr Ramadan, on investment opportunities in the region. The delegation also visited (Zakho) on the Iraqi-Turkish border to get acquainted with the region that have been identified for the establishment of a free trade zone in it.
On his part, Osama Al-Bader, director of the national real estate company in Kuwait and a member of the visiting delegation said: "we now have two projects. One of which includes the development of an area of 104 thousand square meters of land for the construction of a compound in the city of Irbil, consists of a hotel (4 star), a commercial center, a large cinema and apartment buildings", noting that the final cost for this project "amounts to about 100 million dollars".
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