Iraq woos Indonesian businesses<\/p>\n
JAKARTA (JP): A delegation of Iraqi officials yesterday met
\nwith Indonesian businesspeople to discuss possibilities of
\nincreasing trade and economic cooperation between the two
\ncountries.<\/p>\n
During yesterday's meeting, sponsored by the Middle East
\nCommittee of the Indonesian Chamber of Commerce and Industry, the
\nbusinesspeople expressed their interest in the new opportunities
\nprovided by the recent partial lifting of the United Nations
\nembargo on Iraq.<\/p>\n
Iraq agreed earlier this month to sign an oil-for-food deal
\nwith the United Nations, which will permit Baghdad to sell US$2
\nbillion worth of oil over six months to buy food, medicines and
\nother humanitarian supplies to alleviate the effects of sanctions
\non ordinary Iraqis.<\/p>\n
The agreement will allow Iraq to begin selling oil on the
\nworld market for the first time since it became the target of
\nstringent UN sanctions, including a ban on oil exports, after its
\nAugust 1990 invasion of Kuwait.<\/p>\n
The deal will permit the sale of about 700,000 barrels of
\nIraqi oil a day, well below the country's prewar production level
\nof some three million barrels a day.<\/p>\n
The head of the Iraqi delegation, Senior Deputy Minister of
\nIndustry and Minerals Qahtan H. Al-Anbaki, said yesterday Iraq
\nwas presently opening its doors to investments in a wide range of
\nfields, including agriculture, transport, telecommunications,
\nfood and humanitarian sectors.<\/p>\n
He said that economic relations between Iraq and Indonesia had
\nlong been established, thus the partial lifting of the economic
\nsanctions posed upon Iraq was merely a step to further encourage
\nthe relations between the two.<\/p>\n
Iraqi Ambassador to Indonesia Sa'doon J. Al-Zubaydi said the
\nvisit of the Iraqi delegation is also meant to follow up a joint
\nagreement signed last year allowing cooperation and an exchange
\nof technical, trade and scientific ventures between the two
\ncountries.<\/p>\n
Iraq and Indonesia, he added, are currently preparing a joint
\ncommission for trade that will incorporate officials at
\nministerial level.<\/p>\n
Indonesia's exports to Iraq last year reached $1.06 million,
\nup by more than threefold from the corresponding period in 1994.<\/p>\n
Meanwhile, imports from Iraq reached $3.6 million, up 92.6
\npercent from 1994 figures.<\/p>\n
Other members of the delegation include Iraq's Ministry of
\nTrade's Director General of Foodstuffs Yousof Abdulrahman; Iraqi
\nCentral Bank's Director General Hasib K. Jwayid; head of the
\nChamber of Commerce in Baghdad, Zuhaur Abdulgafour Alyounis;
\nDirector for the Import of Medicines and Medical Supplies Tariq
\nA. Bilal; and Director of South-South Trade of the Ministry of
\nTrade Fawzi H. Aldhahir.<\/p>\n
The delegation, which arrived here on Monday, is scheduled to
\nmeet Minister of Industry and Trade Tunky Ariwibowo and Chairman
\nof the Indonesian Chamber of Commerce and Industry Aburizal
\nBakrie, before returning to Iraq on Friday. (pwn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/iraq-woos-indonesian-businesses-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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