Baghdad, Minister of Industry and Minerals, Manhal Aziz Al-Khabbaz, discussed with the Lebanese economic bodies headed by former Minister Mohamed Shoucair at the headquarters of the Beirut and Mount Lebanon Chamber, in the presence of Minister of Industry George Bushkian, ways to develop prospects for cooperation in various economic fields, especially the industrial field and the development of trade and investment exchange.
During the meeting, according to the Lebanese News Agency, “it was agreed on a set of points that would achieve a qualitative leap in bilateral economic relations and enhance cooperation between the private sector in the two countries, most notably: establishing working partnerships between Lebanese and Iraqi businessmen to invest in viable opportunities in Iraq through economic zones , mainly in the free economic zone between Iraq and Jordan, and work to encourage the use of renewable energy, green industry and focus on investment in food industries to provide food security for the peoples of the two countries and work to facilitate the affairs of Lebanese businessmen in Iraq appropriate incentives and facilities and work to cancel visas entry for Lebanese who wish to visit Iraq.
During the meeting, Shoucair thanked Iraq for its permanent support for Lebanon at all levels, the most recent of which was the support it provided to Lebanon by providing Iraqi fuel to the electricity plants, which lit up the homes of the Lebanese.
He said, “After the Russian-Ukrainian war, it became more important to focus on food security primarily, hence, it is necessary to work together jointly on this issue by encouraging the establishment of food industries to maintain food security for the peoples of the two countries.”
He stressed “the need to encourage the Lebanese to invest in Iraq by providing appropriate incentives and facilities, noting that an office has been established in the Beirut and Mount Lebanon Chamber to develop economic relations, and the office has provided many services to the Lebanese who wish to invest in Iraq and vice versa.”
For his part, Lebanese Minister of Industry, stressed “the necessity of Lebanon’s entry into the joint free economic zone between Iraq and Jordan, in which Egypt may joint it,” adding that “this issue is very important for manufacturing and marketing products within these countries.”
Bushkian also stressed “the importance of organizing a joint Lebanese-Iraqi industrial conference and exhibition to develop a vision for developing cooperation in the industrial and economic fields, stressing the need to cancel entry visas for Lebanese to Iraq,” considering that “this constitutes a basic pillar for developing relations at all levels, especially at the level of economic cooperation.” .
In turn, Minister of Industry Manhal Aziz al-Khabbaz said: “With rising global demand and rising prices, there is a global trend towards green industry, alternative energy, as well as mainly to food industries to provide food security for peoples, and this is what we must focus on jointly.”
He stressed Iraq’s desire to establish partnerships with everyone, especially Lebanese businessmen, for production and investment, adding that “we do not favor encouraging the marketing of foreign products in our country, and this trend is growing for the Iraqi government to find a kind of balance between what is locally produced and what is imported from abroad.
He pointed out, “Some of the basic commodities that the Iraqi people consume greatly, while only a few are manufactured in Iraq, explaining that it is possible to jointly manufacture these commodities in Iraq to meet the market need, and these industries will certainly have protection, incentives and preference over all similar imported commodities, therefore, we must focus on partnership, since we have advanced industrial zones and feasible investment opportunities in various fields.”
Source: National Iraqi News Agency
