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UAE to contribute in Iraq development, says Lubna

ABU DHABI — UAE Foreign Trade Minister Shaikha Lubna Al Qasimi discussed means of enhancing trade in commercial and investment areas with Iraqi Trade Minister, Abdul Falah Al Sudani. The meeting was held at Emirates Palace on the sideline of the visit being paid by Iraq Prime Minister Nouri Al Maliki to the UAE, to boost cooperation between the two countries in the economic, investment, agricultural and transport fields.

Lubna stressed the UAE's stance on facilitation of mutual trade development with Iraq, adding that the UAE was ready to contribute in the Iraq development efforts through provision of aid, expertise and regulation of economic laws in the country to meet rapid changes and contribute in rehabilitation of the Iraqi economy. "The UAE is ready to offer required help to rehabilitate the Iraqi economy in order to help the country join the World Trade Organisation (WTO)", she said, adding that the ministry was ready to train the Iraqi cadres. She briefed the Iraqi official on the UAE's foreign trade. The UAE has been ranked the 30th in the trade field worldwide by the WTO with Dh1 trillion from total of world trade last year.

Lubna called on Iraq to benefit from the merit of the world trade centre in the UAE and huge potentials of its efficient ports. The UAE-Iraq trade has registered growth in the recent years, as total of the mutual trade between the two countries in 2006 hit Dh8.835 billion, of which Dh935 million were UAE exports, the UAE re-exportation to Iraq stood at Dh7.656 billion , while the UAE imports from Iraq touched Dh244 million.—