Agreement on Free Trade Area between Iraq and Kuwait at the Experts’ Table

Agreement on Free Trade Area between Iraq and Kuwait at the Experts’ Table

2019/7/27 14:00

{Baghdad: Al-Furat News} Economists dealt with the agreement of free trade zone between Iraq and Kuwait.

The Baghdad Economic Forum, in cooperation with the Economic Elite Group, organized an economic workshop titled “Iraq’s Trade Relations with Neighboring Countries, Benefits and Costs within the Framework of International Trade Relations”.
The head of the Baghdad Economic Forum, Fares Al-Salman, focused on the Gulf oil conflict, the agreement on the establishment of a free trade area between Iraq and Kuwait, the economic and political challenges facing Kuwait and its economic relations with its regional environment. On the distribution of common wealth with neighboring countries.
He said: “The Baghdad Economic Forum proposes the formation of a voluntary advisory council of Iraqi competencies to support and strengthen the Iraqi negotiator in defense of national rights and national security of Iraq.”
He pointed out that “we should consider the Kuwaiti strategy as one package, although Kuwait has marketed it individually to cover and facilitate the promotion of: the Greater Mubarak Port Project, the joint venture agreement for the joint oil fields, the railway project, the agreement with China for the economic investment of the islands of Warba, Boubyan areas of northern Kuwait, amending the Kuwaiti constitution to allow the non-Muslimization of non-Muslims. ”
“The strategic economic agreement with China will make the islands of Kuwait adjacent to Iraq and the north of Kuwait an advanced Chinese economic colony that can manufacture Chinese goods, which can be a national product of Kuwait and can carry nationalities and other qualities as needed,” he said. And neighboring countries and the Eastern Mediterranean region, Europe, as well as the exploitation of Iraqi territory and railways to reach Turkey and the ports of the eastern Mediterranean and from them to the European market.
He urged “the Iraqi negotiator to take into consideration Iraq’s geographic location and demographic strength, sources of wealth, military strength,” pointing out that it is a Muslim partnership project will not live long unless it is balanced and fair, so the parties must go towards the project of real economic integration, Or to enter into a more advanced stage of the project of economic integration is that the Iraqi government proposes to the Kuwaiti government a project alternative to the package of proposed agreements, the project of the Confederacy Union, similar to the Union of Lowlands (the Netherlands and Belgium), as well as the European common market.
A member of the Baghdad Economic Forum, Ikram Abdul Aziz, stood at the Jordanian-Jordanian trade agreement and its various points. Abdul Aziz pointed out that the conclusion of this agreement on the negative side is the weakness of the local product against the importer and its effects on local industry and agriculture. And in terms of oil where it will be sold at prices lower than the world price. On the positive side, it is to facilitate trade exchange and develop human resources operating in various sectors, as well as a new outlet for the export of crude oil.
The representative of the Ministry of Commerce Musab Osama has stood at the secondary framework for the conclusion of treaties under the Vienna Convention for the conclusion of treaties in 1969, and lashed Osama on the Iraqi law of treaties No. 35 of 2015 and the most important terms and definitions and the role of the Ministry of Foreign Affairs in this matter.
Forms of agreements
Faleh Al-Zubaidi of the Faculty of Management and Economics, Mustansiriya University, discussed the importance of trade agreements with neighboring countries. He said: “The conclusion of trade and political agreements and any form of agreements between countries must be based on mutual interests and mutual benefits. And the interest of common things belonging to those countries and based on the most of several factors, most notably the geographical factor, which is of great importance between neighboring countries as well as the dimension of civilization and the convergence of religious and ethnic.
Economic dimension
He pointed out that “the neighboring countries of Iraq seek to conclude agreements with Iraq because of the potential of the impact and influence with him for the most important reasons that the country is mediating a region is very important and dangerous because of its geographical location and the countries of the region strategic depth, similar to Iraq with Turkey and Iran and Syria, Of the diversity of national, religious and sectarian, as well as that Iraq is of great importance in the hearts of the peoples of the region in general because of its cultural status and historical depth, as well as the economic dimension and is the most important factors that push those countries to conclude agreements with Iraq after the release of many wars and international sanctions and the blockade of its economy, Therefore, all countries are trying to increase exports to Iraq to achieve substantial material gains. In view of these countries, the Iraqi market is an important commercial project for them. ”

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