TonyDownTheShore Posted January 23, 2012 Report Share Posted January 23, 2012 Improved relations spur Iraq-Kuwait trade deal; Agreement will benefit the economies of both countries January 23rd, 2012 12:12 pm · Posted in NEWS (Iraq & World Currency) In a continuing effort to improve relations, Iraq and Kuwait signed a first-of-its-kind memorandum of understanding on trade on Tuesday (January 3rd), which allows companies and businessmen to travel between both countries without visas. Officials and trade experts in both countries welcomed the initiative that seeks to expand trade and stimulate economic co-operation. The memorandum is renewable after three years. Zuhair al-Dujaili, the head of the Kuwaiti-Iraqi Friendship Association, which was formed last January to discuss outstanding issues like debt and reparations, told Al-Shorfa that Kuwait has recently taken many steps toward normalising relationswith Iraq. “The trade memorandum will be followed up next week with the inaugural Kuwait-Iraq Media Forum, which will be attended by 50 leading media professionals from both countries and aims to heal the wounds of the past history of both Kuwait and Iraq,” he said. Signing the memorandum serves to “put Iraq back on the Arab map” said al-Dujaili, adding that it will also help open up trade between the neighbours and give Iraq a gateway to the Gulf States and the greater Arab market, “from which it has been absent for far too long”. “Kuwait is Iraq’s ideal first trade partner because the costs of the goods that traders will distribute to both markets would be relatively small, and there are already four large Kuwaiti-owned commercial projects in Iraq in the fields of telecommunication, aviation, and heavy industries, whose resumption requires continuous traffic between the two countries,” al-Dujaili said. The memorandum of understanding will also encourage businessmen on both sides to launch more projects, he added, which will in turn stimulate capital investment and revitalise economic activity. Agreement comes into force soon Walid Abawi, Undersecretary of Iraq’s Ministry of Foreign Affairs, said the agreement will enter into force within a few days. “The Kuwaiti Ambassador informed us of the authorities’ approval of the entry of fifty Iraqi merchants to Kuwait as a first step, pending Kuwait’s finalisation of the agreement’s legal and administrative requirements,” Abawi said. Kuwaiti economist Hajjaj Bukhdur said, “The signing of the memorandum of understanding is the main contributing factor for the removal of political tension between the two countries, as trade helps [people] look past the negatives and focus on the positives that bind the two countries together.” Bukhdur said that Kuwait has tremendous economic and commercial capabilities to help Iraq build its infrastructure properly and stimulate capital investment in the education and health sectors. “And Iraq has a large labour pool, which would help business people realise considerable savings by not having to bring in workers from abroad,” he added. “Without a doubt, commerce will be revitalised in all sectors, be it the oil, agricultural, chemical or manufacturing sectors,” Bukhdur said. “However, the retail sector will be the most revitalised due to the proximity of the two countries, and this will open new markets for Iraq in the Gulf States, from which it can then catapult to other Arab countries.” Haitham al-Jubouri, Deputy Chairman of the Iraq’s Foreign Relations Committee, said Iraq is seeking to resolve all differences with Kuwait, adding that “the agreement is the start of a special relationship that will translate [to action] on the ground in the coming period through the [Joint Iraqi-Kuwaiti] Committee that was formed early last year.” “Iraqis consider Kuwait to be a friendly country,” al-Jubouri said. “Relations must be developed for the benefit of the people of both countries.” http://al-shorfa.com/cocoon/meii/xhtml/en_GB/features/meii/features/main/2012/01/07/feature-01 11 1 Link to comment Share on other sites More sharing options...
SgtFuryUSCZ Posted January 23, 2012 Report Share Posted January 23, 2012 ***/// No duh. 15 15 Link to comment Share on other sites More sharing options...
Brisco Posted January 23, 2012 Report Share Posted January 23, 2012 ***/// No duh. Thanks for the post Tony Tony takes the time and effort to bring us new information, and the only way you can express your gratitude is "No duh" way to raise the bar Sgt 7 1 Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted January 23, 2012 Author Report Share Posted January 23, 2012 Thanks for the post Tony Tony takes the time and effort to bring us new information, and the only way you can express your gratitude is "No duh" way to raise the bar Sgt Thanks Brisco, some people don't appreciate real news. 4 Link to comment Share on other sites More sharing options...
Brisco Posted January 23, 2012 Report Share Posted January 23, 2012 Thanks Brisco, some people don't appreciate real news. Yep I hear ya Tony I always appreciate your efforts Maybe his key board is not the only thing that shorted out when he passed coffeee through his nose Read more: 1 Link to comment Share on other sites More sharing options...
SgtFuryUSCZ Posted January 23, 2012 Report Share Posted January 23, 2012 Thanks Brisco, some people don't appreciate real news. Not "no duh" it's a stupid post... NO DUH, ya'll need to get along to make it work, for cryin' out loud, I was just surprised that they finally 'get it'!!!!! Quit bein' trigger happy w/ the neg button, fellas! 12 4 Link to comment Share on other sites More sharing options...
Protandim Posted January 23, 2012 Report Share Posted January 23, 2012 Look at the difference in the Kuwait Dinar and Iraqi Dinar: 1. Kuwait Dinar = 1 KWD = 3.58809 USD 2. Iraqui Dinar = 1 IQD = 0.000858001 USD Adam: Does it make sense that the Iraqi Dinar will Revalue equal too Kuwait? Please give your thoughts on the Wednesday Message Board!! Thanks Protandim 1 Link to comment Share on other sites More sharing options...
SgtFuryUSCZ Posted January 23, 2012 Report Share Posted January 23, 2012 ***/// Thanks for the +1 somebody... Man, that other stuff hurt, ouch... I'm a harmless old man with a twisted 'ol funny bone... cut me some slack - (and the V.A. Hospital meds ain't helpin', maybe sometimes I think I'm funnier than I really am.. .) I count on ya'll to keep me strait, but this was like one of those YouTube Videos of some 'ol bum gittin' the crap knocked outta him! Peace, Ya'll!!!! 13 1 Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted January 23, 2012 Author Report Share Posted January 23, 2012 Not "no duh" it's a stupid post... NO DUH, ya'll need to get along to make it work, for cryin' out loud, I was just surprised that they finally 'get it'!!!!! Quit bein' trigger happy w/ the neg button, fellas! Hi SgtFuryUSCZ, It's clear your response was misunderstood by everybody, maybe next time show your exitement a little differently, no hard feelings Sgt. 5 Link to comment Share on other sites More sharing options...
rvb4jan1 Posted January 23, 2012 Report Share Posted January 23, 2012 Improved relations spur Iraq-Kuwait trade deal; Agreement will benefit the economies of both countries January 23rd, 2012 12:12 pm · Posted in NEWS (Iraq & World Currency) In a continuing effort to improve relations, Iraq and Kuwait signed a first-of-its-kind memorandum of understanding on trade on Tuesday (January 3rd), which allows companies and businessmen to travel between both countries without visas. Officials and trade experts in both countries welcomed the initiative that seeks to expand trade and stimulate economic co-operation. The memorandum is renewable after three years. Zuhair al-Dujaili, the head of the Kuwaiti-Iraqi Friendship Association, which was formed last January to discuss outstanding issues like debt and reparations, told Al-Shorfa that Kuwait has recently taken many steps toward normalising relationswith Iraq. “The trade memorandum will be followed up next week with the inaugural Kuwait-Iraq Media Forum, which will be attended by 50 leading media professionals from both countries and aims to heal the wounds of the past history of both Kuwait and Iraq,” he said. Signing the memorandum serves to “put Iraq back on the Arab map” said al-Dujaili, adding that it will also help open up trade between the neighbours and give Iraq a gateway to the Gulf States and the greater Arab market, “from which it has been absent for far too long”. “Kuwait is Iraq’s ideal first trade partner because the costs of the goods that traders will distribute to both markets would be relatively small, and there are already four large Kuwaiti-owned commercial projects in Iraq in the fields of telecommunication, aviation, and heavy industries, whose resumption requires continuous traffic between the two countries,” al-Dujaili said. The memorandum of understanding will also encourage businessmen on both sides to launch more projects, he added, which will in turn stimulate capital investment and revitalise economic activity. Agreement comes into force soon Walid Abawi, Undersecretary of Iraq’s Ministry of Foreign Affairs, said the agreement will enter into force within a few days. “The Kuwaiti Ambassador informed us of the authorities’ approval of the entry of fifty Iraqi merchants to Kuwait as a first step, pending Kuwait’s finalisation of the agreement’s legal and administrative requirements,” Abawi said. Kuwaiti economist Hajjaj Bukhdur said, “The signing of the memorandum of understanding is the main contributing factor for the removal of political tension between the two countries, as trade helps [people] look past the negatives and focus on the positives that bind the two countries together.” Bukhdur said that Kuwait has tremendous economic and commercial capabilities to help Iraq build its infrastructure properly and stimulate capital investment in the education and health sectors. “And Iraq has a large labour pool, which would help business people realise considerable savings by not having to bring in workers from abroad,” he added. “Without a doubt, commerce will be revitalised in all sectors, be it the oil, agricultural, chemical or manufacturing sectors,” Bukhdur said. “However, the retail sector will be the most revitalised due to the proximity of the two countries, and this will open new markets for Iraq in the Gulf States, from which it can then catapult to other Arab countries.” Haitham al-Jubouri, Deputy Chairman of the Iraq’s Foreign Relations Committee, said Iraq is seeking to resolve all differences with Kuwait, adding that “the agreement is the start of a special relationship that will translate [to action] on the ground in the coming period through the [Joint Iraqi-Kuwaiti] Committee that was formed early last year.” “Iraqis consider Kuwait to be a friendly country,” al-Jubouri said. “Relations must be developed for the benefit of the people of both countries.” http://al-shorfa.com/cocoon/meii/xhtml/en_GB/features/meii/features/main/2012/01/07/feature-01 Sounds like great PR spin for both countries. Hope they abide by their agreement and move forward... 1 Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted January 23, 2012 Author Report Share Posted January 23, 2012 Sounds like great PR spin for both countries. Hope they abide by their agreement and move forward... I think they're very close to announce that chapter 7 is done along with everything else we're waiting for, jmo. 1 Link to comment Share on other sites More sharing options...
Realdinar Posted January 23, 2012 Report Share Posted January 23, 2012 I think they're very close to announce that chapter 7 is done along with everything else we're waiting for, jmo. I really like this article. Sounds really positive in terms of the growth of both economies. Keep on growing Iraq! Something has to give! :lol: :lol: 1 Link to comment Share on other sites More sharing options...
zigmeister Posted January 23, 2012 Report Share Posted January 23, 2012 I think they're very close to announce that chapter 7 is done along with everything else we're waiting for, jmo. I am hoping chapter 7 is like the objects I see in my car's side mirror's; "chapter 7 is closer than I think". 2 Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted January 23, 2012 Author Report Share Posted January 23, 2012 I am hoping chapter 7 is like the objects I see in my car's side mirror's; "chapter 7 is closer than I think". Zig today we're a day closer than yesterday. Link to comment Share on other sites More sharing options...
zigmeister Posted January 23, 2012 Report Share Posted January 23, 2012 Zig today we're a day closer than yesterday. I hope so! Link to comment Share on other sites More sharing options...
Blu Collar Guru Posted January 23, 2012 Report Share Posted January 23, 2012 Not "no duh" it's a stupid post... NO DUH, ya'll need to get along to make it work, for cryin' out loud, I was just surprised that they finally 'get it'!!!!! Quit bein' trigger happy w/ the neg button, fellas! PLUS ONE FOR YOU! 1 Link to comment Share on other sites More sharing options...
cbs71 Posted January 23, 2012 Report Share Posted January 23, 2012 Not "no duh" it's a stupid post... NO DUH, ya'll need to get along to make it work, for cryin' out loud, I was just surprised that they finally 'get it'!!!!! Quit bein' trigger happy w/ the neg button, fellas! Hey sarge, I got you down to -1 Link to comment Share on other sites More sharing options...
Brisco Posted January 23, 2012 Report Share Posted January 23, 2012 Hi SgtFuryUSCZ, It's clear your response was misunderstood by everybody, maybe next time show your exitement a little differently, no hard feelings Sgt. Diddo Sgt sorry - just a little protective of veteran DV's like Tony who work so hard to bring great info, like this article. I'am never sure where a newbie is coming from, especially when there is no dialog just "No duh" It's all good one day closer 2 Link to comment Share on other sites More sharing options...
precious1 Posted January 23, 2012 Report Share Posted January 23, 2012 Hey, this is a great article, it's TIME to get this done. Each step is closer to the prize! 1 Link to comment Share on other sites More sharing options...
Sk 1962 Posted January 23, 2012 Report Share Posted January 23, 2012 Hey Tony thanks for the post! One more day closer to financial freedom everyone 1 Link to comment Share on other sites More sharing options...
Abarvets Posted January 23, 2012 Report Share Posted January 23, 2012 Thank you for the article Tony! 1 Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted January 23, 2012 Author Report Share Posted January 23, 2012 I really like this article. Sounds really positive in terms of the growth of both economies. Keep on growing Iraq! Something has to give! :lol: :lol: The way I read this article it tells me they have resolved all the issues that were holding the release of chapter 7, they are opening the borders Jan 3rd so I think we'll see some news real soon on chap 7. 1 Link to comment Share on other sites More sharing options...
sourpuss Posted January 23, 2012 Report Share Posted January 23, 2012 Not "no duh" it's a stupid post... NO DUH, ya'll need to get along to make it work, for cryin' out loud, I was just surprised that they finally 'get it'!!!!! Quit bein' trigger happy w/ the neg button, fellas! I gave you a plus...I knew what you meant:) Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted January 23, 2012 Author Report Share Posted January 23, 2012 Thank you for the article Tony! My pleasure. Link to comment Share on other sites More sharing options...
JustNTime Posted January 23, 2012 Report Share Posted January 23, 2012 everybody , need some more of this so we can all share in the love. Link to comment Share on other sites More sharing options...
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