Tishwash: Iraq moves towards signing comprehensive economic agreement with UAE
Prime Minister Mohammed Shia al-Sudani stressed, on Tuesday, the importance of continuing bilateral efforts towards signing a comprehensive economic agreement between Iraq and the UAE.
His media office stated in a statement received by “Al-Eqtisad News” that “Al-Sudani received today the new UAE Ambassador to Iraq, Abdullah Matar Al-Mazrouei.”
The statement added, “The meeting witnessed discussion of bilateral relations between the two countries, which are progressing at various levels, and ways to enhance distinguished cooperation in many fields, in a way that achieves common and mutual interests between the two brotherly countries.”
Al-Sudani referred to “the efforts made by the UAE to enhance its cooperation with Iraq, especially in the strategic development road project, which constitutes a link between Iraq’s neighbors and the countries of the region, in addition to its long-term economic importance.”
He stressed “the importance of continuing bilateral efforts towards signing a comprehensive economic agreement between the two countries link
Tishwash: Switzerland reopens embassy in Iraq after 33 years
The Swiss Foreign Ministry announced today, Tuesday (September 3, 2024), the reopening of its embassy in the Iraqi capital, Baghdad, after 33 years of closure in 1991 due to the Gulf War.
“By reopening the embassy, the Federal Council aims to strengthen bilateral relations with the densely populated country and consolidate cooperation in the fields of economy, security and migration,” the ministry said in a statement.
Foreign Minister Fuad Hussein announced last May that Switzerland would reopen its embassy in Baghdad in the coming months.
In an interview with Swiss Info, during his visit to Switzerland, Hussein pointed out that Switzerland made its first official visit to Iraq in more than 40 years in 2021, during which discussions took place regarding the possibility of reopening the Swiss embassy in Iraq.link
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Tishwash: Buried Riches”: Gas Discovery in Iraq a Ray of Hope for Economic Development
Iraq has recently achieved remarkable progress in the energy sector, especially in the field of natural gas discovery. These discoveries represent an important strategic step towards achieving energy security and strengthening the economy in general, and they also open new horizons for investment and development in this vital sector.
In recent years, oil companies and the Iraqi government have announced new discoveries of gas patches in several areas. Among these discoveries, the Anbar region stands out as a major location where important gas deposits have been discovered.
According to industrial sources, the new discoveries include large quantities of dry gas, a type of natural gas that contains low levels of sulfur and is used in many industrial applications. This type of gas is used in power generation, as an industrial fuel, and in the production of chemicals, making it an important resource for the industrial and energy sectors.
The Iraqi government is working to enhance investment in these discoveries through partnerships with international energy companies. Agreements have been signed with multinational companies to develop the infrastructure necessary to extract and purify gas. It has also been agreed to implement projects to extend gas pipelines and modernize refining stations.
Building infrastructure is an important step, as extracting natural gas and delivering it to markets requires complex facilities including pipelines, refining facilities, and pumping stations.
These projects require huge investments and careful coordination between the various parties concerned, and the government is working to improve the legal environment to attract foreign investment, including improving contracting terms and simplifying bureaucratic procedures.
Despite the optimism that accompanies new gas discoveries, there are a number of challenges facing the exploration and production process. These challenges include the need for modern technology and technical expertise, in addition to the difficult geographical conditions that may affect drilling and transportation operations.
Great economic opportunities
On the other hand, developing the natural gas sector in Iraq opens up great economic opportunities. In addition to improving energy security, this sector can contribute to creating new job opportunities, increasing national revenues, and enhancing economic growth. Exporting gas to international markets can also provide an important source of financial returns.
“The discovery of new gas blocks in Iraq represents an important strategic opportunity for the country as it provides a strong foundation for developing the energy sector and enhancing economic independence,” said retired gas expert Dr. Sami Al-Jubouri, who held positions in major energy companies. “However, it is necessary to focus on improving the infrastructure and applying the latest technologies to ensure efficient and safe gas extraction, through cooperation with international companies, which will enhance Iraq’s ability to optimally exploit these resources.”
“The challenges facing the country include the need to develop local technical capabilities and increase operational efficiency, as well as manage resources sustainably to ensure long-term benefits,” Dr. Al-Jubouri added to the Iraq Observer. link
