Ali Allawi: Iraq must cut red tape to do business with Gulf – The National

Ali Allawi: Iraq must cut red tape to do business with Gulf – The National

Ali Allawi: Iraq must cut red tape to do business with Gulf. Iraqi finance minister says Saudi and Kuwaiti officials told him 'deadly bureaucracy' discourages interest. Iraq's new government hopes to "open a new page" with Arabian Gulf countries to attract capital inflows from the region, Finance Minister Ali Allawi said.. The finance minister, who visited Saudi Arabia and Kuwait last month, said he avoided discussing Iraq's need for financing to plug a huge budget deficit expected this year.. "We want to create a kind of balance and integration between Iraq and the Gulf countries, which have a little role in the Iraqi economy," Mr Allawi said.. "Hopefully we will open a new page with regard to Gulf businessmen and the economic issues, especially with Saudi Arabia and Kuwait.". Mr Allawi's visit to the two countries was the first official overseas trip by a member of Prime Minister Mustafa Al Kadhimi's government.. The new prime minister's closeness to Washington has helped revive regional interest in Iraq.. Accompanying Mr Allawi on his trip to Saudi Arabia was Salem Chalabi, a prominent Iraqi lawyer who is well connected in Saudi Arabia and the UAE.. Although the sharp drops in oil price and