Investment agreements pave the way for Iraq’s accession to the World Trade Organization, says economist

Posted by on Oct 28, 2013 | Leave a Comment

10.10.2013 12:00 AM

counting Economists investment agreements and economic signed by Iraq with the countries of the world one of the important steps that pave the way for Iraq’s accession to the World Trade Organization because it is considered a first step towards collective bargaining.

Economist and academic, Dr. Acer Yassin said in a statement (morning): The “hold these agreements to the benefit of both sides through the exchange of experiences and attract investments and allow foreign investors and the Arabs.”

said Yassin said the Iraqi investment law gives the group guarantees and benefits for foreign investors, especially in the field of construction and reconstruction, these benefits have not benefited Arab investor in the past few years, as it did not try to invest in Iraq and the trend towards the Iraqi economy because of security conditions, so it must attract Arab investors to be construction projects pilot.

noted expert that these agreements are considered privilege for the investor, as being able to own land, which implements the project, especially as the Iraq less signatory countries of the agreements guaranteeing to invest at the level of countries of the world, noting that it encourages investors and give them guarantees and additional benefits, as well as the advantages granted by the Investment Law, and opens the way for agreements with other countries, especially as the investment agreements in the field of construction and reconstruction benefit Iraq because it needs to residential units, which were estimated by the experts of two million units, but the country needs more than this number, especially in the provinces, he said.

noted that the National Investment Commission has signed contracts investment with two Blorm and Handal Alamarateten Inc. Shamara Holding last month, for the construction of housing units are in the cities of the future (1 and 2) in the region of الدهنة by 30 thousand residential units, and the Committee of Baghdad in the area of Dabbashby 20 thousand residential units.

Government has shown its willingness to consider any amendments serve the process of construction and investment and cringe difficulties encountered in the work of investors and companies the private sector, while stressing the Ambassador of the United Arab Emirates and managers of UAE companies investing in Iraq’s intention to increase the presence in the Iraqi market, expressing their aspiration to support the Iraqi government for construction projects undertaken by the UAE companies, and pledged at the same time its completion deadlines.

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