Indonesia, Iraq sign economic agreement

Indonesia, Iraq sign economic agreement

JAKARTA (JP): Indonesia and Iraq signed yesterday an agreement on economic, scientific and technical cooperation and the formation of a joint commission of a ministerial level.

The agreement was signed by Director General of Foreign Economic Relations Soemadi D.M. Brotodiningrat and Iraqi Ambassador to Indonesia Sa'doon Jal Zubaydi.

A spokesman for the Ministry of Foreign Affairs said yesterday's deal will stand as an umbrella agreement to promote trade and economic ties between the two countries.

The joint commission will serve as a forum to address any problems that might emerge from the implementation of the umbrella agreement.

According to the ministry, the umbrella agreement stipulates, among other things, that any intellectual property resulting from the implementation of the agreement will belong to both parties, which will be individually entitled to use it for further development.

The joint commission will hold regular meetings alternately in Indonesia and Iraq and each delegation to the meetings will be chaired by ministerial-level officials. (13)