MOT wins a lawsuit of $200 million

Economy

22-12-2019, 13:37

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INA – BAGHDAD

Ministry of Trade – MOT announced that it won a $200 million lawsuit filed by a Syrian institution in the case of contracts for the memorandum of understanding.

Legal departments of MOT and Ministries of Justice and Foreign Affairs coordinated mutual work and was able to finish the lawsuit against the Minister of Trade and the Director General of the General Company for Cars and Machinery Trading in addition to their job established by the Syrian Building and Trade Corporation, where the follow-up in the lawsuit was in favor of Iraq.

“The lawsuit amounted to $200 million and was pending by the Commercial Court of First Instance in Damascus,” included a statement by the MOT.

The lawsuit was made around the Memorandum of Understanding agreements on oil-for-food and medicine, for the value of seven contracts, which included preparing multi-use transport modes for transporting food for the period from 2001 to 2003 in an initial stage, despite the obstacles that faced its implementation.