Iraqi-Russian Joint Committee agree to series of investment projects

Iraqi Foreign Minister Mohammed Ali al-Hakim and Russian Deputy Prime Minister Yury Borisov sign agreements. (Photo Credit: Iraqi Foreign Ministry)

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SULAIMANI — The Iraqi-Russian Joint Committee has completed its eighth session during which a number of agreements were signed between the two governments in Baghdad, according to a statement on Thursday (April 25) from the federal Ministry of Foreign Affairs.

The bilateral committee is designed to strengthen business and investment ties between the two countries.

The Iraqi delegation was led by Foreign Minister Mohammed Ali al-Hakim and the Russian delegation by Deputy Prime Minister Yury Borisov the statement said.

“The meeting resulted in the signing of several agreements and memorandums of understanding in various fields, including trade, finance and banking, energy, electricity, mineral wealth, industry, telecommunications, information technology, transportation, agriculture, reconstruction, housing, health, sports, culture and tourism, education and cooperation in other areas,” the statement said.

The foreign ministry statement did not go into detail about the projects that were under development.

Al-Hakim visited Moscow at the end of January, where he met with Borisov and his Russian counterpart Sergey Lavrov.

Russia has approximately $10 billion in investments in the Iraqi oil and gas sector, Lavrov revealed during the January visit and said that it hoped to increase that level.

The government of Prime Minister Adil Abdul Mahdi has been pursuing a foreign policy based on improving its business ties with its neighbors, but world powers as well. Officials have portrayed Iraq as a “bridge” in the region, where all can do business regardless of their political conflicts.

According to Russian media reports, Borisov met with Abdul Mahdi and President Barham Salih during his two-day visit to Baghdad, which started on Wednesday.

(NRT Digital Media)