The countrywide funding commission of Iraq has announced the begin of the 1/3 spherical of discussions on the draft agreement for the Encouragement and safety of Investments between Iraq and the Czech Republic.
The conferences, held in Prague on 22-23 July, comply with the current go to by way of high Minister Mohammed Shia’ Al-Sudani to the Czech Republic and are a part of Iraq’s efforts to bolster economic ties and promote mutual investment. The discussions goal to foster a sustainable economic partnership, facilitate generation transfer, create jobs, and support economic improvement.
The Iraqi delegation became led by NIC Chairman Dr. Haider Muhammad Makiyya, accompanied through the Iraqi negotiation group. The Czech side changed into led by using Martina Matušová, alongside the Czech negotiation group. Iraq’s chargé d’affaires in Prague, Mr. Hussein Al-Safi, and his deputy Mr. Samer Jamal additionally attended.
In his remarks, Dr. Makiya highlighted legislative and procedural reforms which have converted Iraq’s investment surroundings in latest years, mentioning a widespread upward push in both neighborhood and overseas investment interest. He officially opened the spherical of talks, describing the settlement as a milestone in deepening bilateral monetary cooperation.
Over days, the events engaged in in-intensity discussions and advanced the drafting of key provisions. in addition rounds of negotiation are planned, with the very last model of the agreement to be submitted for formal approval underneath Iraqi regulation.
On the second day, Czech Deputy Finance Minister Tomáš welcomed the development and expressed optimism for future talks. He praised Iraq’s latest reforms and showed that the Czech Ministry of Finance, thru its representative at the OECD, would support efforts to improve Iraq’s international funding rating. Iraq’s total funding extent has reportedly reached $99 billion.
Tomáš additionally acknowledged Iraq’s latest funding agreements with Qatar, Saudi Arabia, and the UAE as encouraging signs and symptoms of a strong and investor-friendly surroundings.
