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Long-Presse / Baghdad
Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, on Monday, French companies to enter the Iraqi market and investment, and while counting the volume of trade exchange between the two countries, which amounted last year 1.7 billion euros, "does not meet the ambitious", he stressed that Iraq sought because the turns exporter of crude oil to the producing and exporting materials manufacturer of oil products, and that the "center" of the Middle East and the world.
Shahristani said, in a speech during the Business Forum and the Iraqi investment - the French, which was held in Baghdad this morning, attended by the ministers of trade, transport and head of the Investment Authority of Iraq, and the French ambassador in Iraq, and a number of heads and representatives of French companies and the Iraqi, "The volume of trade exchange between Iraq and France arrived in the past year 2012, to one billion and 700 million euros, "adding that this" figure more than the past years, but it does not meet the ambitious compared with other countries arrived with her trade for more than tenfold. "
He called on Deputy Prime Minister for Energy Affairs, French companies, to "to take advantage of opportunities in Iraq and the availability of skilled labor and raw materials and energy in it, to make it a production base of industrial Mnecathm and marketed in the Middle East," noting that "there are 42 French companies operating in Iraq, a number quite a bit. "
Shahristani said, that "Iraq has issued over the past years, many of the laws and regulations that contributed to the new transitions, including the investment law in 2006, which provided many incentives for the investor, and has also worked to develop a comprehensive development plan focused on diversifying the economy, including the various sectors," pointing to the fact that "the plan for Iraq has evolved in the growth rate reached nine percent during the past five years."
He expected the Deputy Prime Minister for Energy Affairs, that "the growth rate rises to ten percent over the next five years", stressing that "Iraq was able to control the rate of inflation and reduced from 50 to six percent currently."
He said al-Shahristani, that "the government has worked to reduce the interest rate on banks from twenty to six percent," and added that "a number of sectors experienced substantial growth, especially energy, after the success of the licensing rounds and involving international companies to develop oil fields, where production rose currently 2.3 to 3.30 million barrels per day, "revealing" and there are plans to increase production to nine million barrels per day in 2020, as well as the increase in oil exports from 2.5 to 7.5 million barrels per day, to be Iraqi oil fuel source head in different countries the world. "
The Deputy Prime Minister for Energy Affairs, that the "surge accompanied by a rise in gas production because it is a companion to the oil production in Iraq," and added that "gas will be used as fuel for power plants and within a few years, Iraq will have a surplus of gas will be issued after sustaining the country from him."
He Shahristani said, "The Iraqis have suffered so much from a lack of electrical power, and was developing a plan for the construction of power stations by 20 thousand megawatts two years ago, and entered the department, including the service which provided energy around good," Mstrsla that "the other part of those stations will enter service during coming weeks and months to up production to 20 thousand megawatts during the year 2014 the next, and the next, and we will work to transform these stations with a simple cycle to courses vehicle to get 10 thousand megawatts of additional, as well as our call for the Iraqi and foreign investors to build power stations, new investment, the trend towards the privatization of distribution in the sectors of electricity and oil. "
The Deputy Prime Minister for Energy Affairs, on "Iraq signed seven memorandums of understanding with major international companies to build factories for petrochemicals and fertilizers, which would make him one of the largest producers of petrochemical industries and converts it from an exporter of crude oil to the producer and exporter of the material manufactured from oil derivatives."
The al-Shahristani, that "Iraq will witness a remarkable development in the field of transport in all its forms of air, land and sea, where the sector is witnessing a railway extending new lines estimated to cost a total of $ 40 million, and plans to build one of the largest ports in the Gulf (the port of Faw), and Baghdad Metro Project , because it has the geographic position helped him to be a hub for the Middle East and the world. "
He called on Deputy Prime Minister for Energy Affairs, Iraqi and foreign investors to "invest in the housing sector because Iraq is suffering from a deficit in this sector up to three million units," pointing out that it "has already been created residential complexes large in some provinces, and there are more than 70 housing projects less to invest in the Iraqi provinces. "
Shahristani said, that "Iraq is suffering from the financial system is sophisticated needs to promote it despite the possession of hard currency reserves exceeded 88 billion dollars."
The aim of Business and Investment Forum Iraqi - French to discuss ways to enhance cooperation between the two sides in all economic fields.
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