Qatari economists and businessmen have confirmed that the opportunities for cooperation and partnership between the private sector in the State of Qatar and Iraq are very great, in light of the great potential enjoyed by the business sector in the two countries and the promising investment opportunities that can be implemented.
They added in exclusive statements to Qatar News Agency (QNA) that the opportunities for partnership and cooperation between the private sector in the two countries are great and varied, in light of the desire to establish economic alliances between the two sides that contribute to achieving a qualitative addition and establishing a long-term partnership between the businessmen of the two countries.
Chairman of Sadara Capital Ahmed Khalaf said that the group has signed 4 memorandums of understanding with a number of international alliances in the fields of oil and gas and related services in Iraq.
Al Khalaf added, in a special statement to QNA, that the first memorandum of understanding is concerned with entering into a strategic partnership with the Iraqi Oil Tanker Company, in partnership with partners in Malaysia, to build a fleet to transport oil and its derivatives to global markets, while the second memorandum of understanding includes the completion of an oil refinery with a production capacity of 150,000 barrels per day in Mansouriya, Iraq, under the operating system, and the contract extends for 25 years.
Speaking about the third memorandum of understanding, Ahmed Al Khalaf explained that it relates to building, operating and investing in a refinery with a production capacity of 300,000 barrels per day in partnership with an alliance between Sadara Holding and specialized international and Malaysian companies.
As for the fourth memorandum of understanding, he said that it relates to the establishment of a power station with a capacity of 3000 megawatts and 100 million cubic meters per day of desalinated water in partnership between the group and its international partners specialized in this field, praising the investment climate in Iraq and its availability of great opportunities in various sectors, expecting the completion of various studies. economic projects for the aforementioned at the end of the current year.
For his part, First Vice-President of Qatar Chamber Mohammed bin Ahmed bin Tawar Al Kuwari stressed that the Iraqi market is one of the promising and important markets in the region, especially after the Iraqi government launched a series of projects in various fields, especially in the field of infrastructure.
In an exclusive statement to Qatar News Agency (QNA), Al Kuwari pointed out that the establishment of partnership and cooperation opportunities between the private sectors in the two countries is large and varied, pointing to the possibilities of establishing economic alliances between the two sides that contribute to achieving a qualitative addition and establishing a long-term partnership between the businessmen of the two countries.
He pointed out the possibility of holding business meetings that identify partnership opportunities and form a database that contributes to determining the direction of cooperation, especially by launching a series of projects in energy, infrastructure and others.
He explained that the volume of trade exchange between the two countries amounted to QR 404 million in 2022, QR 531 million in 2021, and QR 297 million in 2020.
For his part, businessman Mansour Al Mansour said that the prospects for cooperation and partnership between the private sector in Qatar and Iraq are promising, particularly given the capabilities both sides have.
He told QNA that cooperation between the two sides will enable the exchange of experiences in wide sectors, especially since Iraq is currently one of the main investment destinations in the region in light of the availability of investment opportunities in various sectors.
Al Mansour stressed the ability of the Qatari private sector to respond to the various projects that are being implemented in Iraq, in view of the experiences it gained, especially in the recent period, with its implementation of a number of projects related to the World Cup organized by Qatar last year.
Source: Qatar News Agency
