UAE announces $3 bln investment in Iraq following PM al-Kadhimi visit

UAE announces $3 bln investment in Iraq following PM al-Kadhimi visit

The United Arab Emirates announced a $3 billion investment in Iraq in a fresh bid to strengthen the economic and investment relations between the two nations, according to a statement on Sunday released by Emirates News Agency.

The statement added that the new investments are aimed at tapping new prospects of partnerships between the two countries and accelerating socio-economic and developmental growth in support of the people of Iraq.

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The announcement came diring Iraq Prime Minister Mustafa al-Kadhimi's visit to the United Arab Emirates where he met with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed.

The statement added that the Iraqi prime minister thanked the UAE for its medical support that was sent to help Iraq and its people face the health crisis.

"The two sides agreed to grow economic cooperation and accelerate trade and investment exchanges, urging their businessmen to exchange visits. They also agreed on establishing the Iraqi-UAE Business Council and to streamline all the measures in the service of the two nations and their peoples,“ the statement added.

WAM added that Iraq commends the UAE's initiative to renovate Al Hadba Minaret, the Great Mosque of al-Nuri, and