Qatar and Iraq signed agreements on Thursday on cooperation in the fields of energy and infrastructure. Qatar's Emir Sheikh Tamim bin Hamad Al Thani announced this at a press conference on the outcome of his visit to Baghdad and talks with Iraqi Prime Minister Mohammed al-Sudani.
"A number of memorandums of understanding and agreements were signed today, as well as a joint declaration of intent, which aims to strengthen cooperation between Qatar and Iraq," said the emir, whose speech was broadcast by Al Jazeera.
According to him, the agreements reached in Baghdad cover "such vital areas as energy, electricity, the development of modern cities and the hotel business, as well as the management of hospitals in Iraq." In addition, the emir noted, the sides discussed regional infrastructure projects, including the integration of Iraq's electricity networks into the Gulf energy system.
According to the statement issued by the office of the prime minister of Iraq, the agreements assume the supply of Qatari gas to the republic, the creation of a joint oil company, as well as the construction of an oil refinery. In addition, the statement noted that the National Investment Commission of Iraq will establish a joint venture with the Qatari government to build a refinery in Iraq.
The head of the Iraqi government, speaking at a press conference, pointed to the need for investment to rebuild the country's economy, which has suffered from a lengthy armed conflict. "The secure and politically stable environment in Iraq today creates a promising operating environment, as we talked to Sheikh Tamim about. We have looked at economic prospects for Qatari companies to participate in our infrastructure reconstruction projects," al-Sudani stressed.
In addition, the prime minister said the two sides discussed Qatar's participation in Iraq's ambitious Path of Development project, which could become an alternative to the Suez Canal in the near future. "We talked about the investment opportunities related to the promising for Iraq and the region project 'Path of Development' <...>. This project is an opportunity for economic partnership, and we appreciate Qatar's sincere interest in participating in it," he said.
Path of Development
In late May, Iraqi authorities announced the launch of a transportation and logistics system project, including railroads and highways, to link the country's oil-rich southern regions with the Mediterranean coast of Turkey. According to the project, the main transport routes will be linked to the major port of Al-Faw on the Persian Gulf coast. Within the "Path of Development" it is planned to modernize and build more than 1.2 thousand kilometers of railroads connected to high-speed highways that will connect Iraq with neighboring countries.
The cost of the project is estimated at $17 billion, and Baghdad expects that much of the investment will come from the Arab countries, in particular the monarchies of the Persian Gulf. The project must be completed as early as 2029 and, according to analysts, could become a serious competitor to the Egyptian Suez Canal.
GSV "Russia - Islamic World"
Photo: official website of the President of the Russian Federation
Based on materials from TASS