Al-Sudani Attended Dialogue Session with Dutch Business Community in Rotterdam

Baghdad-INA

Prime Minister Mohammed S. Al-Sudani attended a dialogue session this evening, Thursday, held on the sidelines of his official visit to the Netherlands. The session was attended by a group of businessmen and representatives of 40 Dutch companies.

In a statement received by the Iraqi News Agency ( INA ), PM Al-Sudani emphasized the importance of further developing bilateral relations with the Netherlands, particularly in the economic sphere. He highlighted Iraq's current phase of recovery across multiple fronts following the successful conclusion of the war against ISIS, during which the Iraqi people prevailed with the assistance of the international community, including the Netherlands among supportive nations.

The following are the highlights of the Prime Ministers' remarks at the dialogue session:

Iraq has requested the international coalition to conclude its mission in the country after 10 years, in light of the preparedness and effectiveness of the Iraqi security services.


The government has priorities, including reforming the Iraqi economy, and we cannot continue to rely on oil revenues only.


We are proceeding on two paths: the first is achieving reforms in the various economic, banking and financial sectors, and gas investment, and the other is implementing projects that provide job opportunities and meet our needs for services and goods.

Iraq annually imports around $70 billion worth of goods (2020), while our imports from the Netherlands amount to approximately $500 million per year.


We have initiated a program to optimize water usage, particularly in light of the water scarcity conditions faced by the region and the world.


We supported farmers in acquiring modern irrigation systems, and we are trying to invest in successful experiences in the Netherlands to confront water scarcity in Iraq.

One of the outcomes of the meeting with the Dutch government is the establishment of a cooperation council between Iraq and the Netherlands, tasked with overseeing all matters, including the Agriculture and Water Committee.


We succeeded in approving a three-year budget, which is a message of stability in implementing projects without delay.

The Iraq Fund for Development will collaborate with the private sector to execute projects independently from the government, which will primarily focus on planning and organization.

 The government, for the first time, provides sovereign guarantees to the private sector of up to 85% for any project being implemented.

 We need a group of factories that provide construction materials for new cities, and invest in existing natural resources.

 Iraq will build the Development Road Project, a pivotal economic corridor connecting Al-Faw Grand Port to Europe via Türkiye, extending all the way to the port of Rotterdam.

 The Development Road saves time and transportation costs, and will contain non-stop railways.

 Al-Faw Grand Port is scheduled to be inaugurated and opened by mid-2025, with an experimental anchoring of a ship already conducted at one of its five berths.

We presented the economic amendments bill, which will provide an attractive environment for the private sector, and allow a foreign company ownership percentage of up to 100%.

 We have initiated comprehensive reforms in the financial and banking sector, including measures to ensure compliance with global standards in financial transfers.

 International and Arab banks began opening their branches in Iraq.

 A diverse range of companies from various nationalities, including French, Italian, German, Spanish, Austrian, Asian, and Arab, are currently operating in Iraq, alongside others from countries within the region.

 Iraqi state institutions are demonstrating both the will and action necessary to transition towards a better reality.