Arab Today, arab today iraq pushes for investment as india seeks more oil
Last Updated : GMT 10:09:25
Arab Today, arab today
Arab Today, arab today

Iraq pushes for investment as India seeks more oil

Arab Today, arab today

Arab Today, arab today Iraq pushes for investment as India seeks more oil

New Delhi - AFP

Iraq\'s prime minister on Friday pitched for investment from India to rebuild his war-shattered nation, which is a critical energy supplier to New Delhi. Iraq\'s Prime Minister Nuri Al-Maliki said there were \"great opportunities\" for Indian firms to rebuild the nation\'s infrastructure -- constructing ports, highways, housing, railways, schools, hospitals and investing in oil production facilities. \"There is so much potential,\" said Maliki, who is on a three-day trip to New Delhi and Mumbai. Iraq is still struggling to rebuild its broken infrastructure since a 2003 US-led invasion ousted president Saddam Hussein and led to massive sectarian violence. This is the first head of government-level visit between the two countries since 1975, when then-prime minister Indira Gandhi visited Iraq. During the visit, the two sides were expected to sign an agreement that would increase Iraqi sales of crude oil to fuel-import reliant India. Iraq has eclipsed sanctions-hit Iran as India\'s second-biggest crude oil supplier after Saudi Arabia. India reduced its dependence on Iranian oil in the wake of US and European sanctions on the import of oil from the Islamic Republic. India and Iraq have historically enjoyed friendly ties. But while China has been energetically seeking infrastructure contracts in Iraq, and has invested substantially in Iraqi oil production, Iraq officials say India has been noticeably absent. Iraq has said it may need up to $1 trillion over the next decade to rebuild its crumbling infrastructure. \"We are rebuilding our country,\" said Maliki, whose visit followed a trip to Baghdad by Indian foreign minister Salman Khurshid in June. Luring foreign investment to Iraq has been complicated anew by the worst violence in the country since 2008. \"We have some security breaches here and there,\" conceded the chairman of Iraq\'s National Investment Commission, Sami Raouf Taqi al-Araji. But he said the country had special forces protecting foreign workers. \"We\'re committed to protecting foreign workers, they are away from their homes, they are in our care,\" Araji told reporters. Despite tensions, Iraq\'s economy has been growing, fuelled by oil exports. Indian exports to Iraq totalled around $1.3 billion in 2012, up from $740 million in 2011, according to an Indian government official. Baghdad\'s exports to India -- the vast majority of which were oil -- totalled more than $20 billion last year, up from $9 billion a year earlier in 2011. India has said it is keen to \"reverse the traffic\" by investing in Iraqi infrastructure and moving to a more broad-based relationship. The country, struggling to stabilise its ailing currency, is also pushing Iraq to accept payment for its oil exports in rupees, Indian trade minister Anand Sharma said Friday. Araji said Iraq would have to consider the request. Iran, which has long battled neighbouring Iraq for global oil market share, agreed to take payments for the oil it sells to India in rupees after Western sanctions over its disputed nuclear program blocked other payment methods.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iraq pushes for investment as india seeks more oil Arab Today, arab today iraq pushes for investment as india seeks more oil

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iraq pushes for investment as india seeks more oil Arab Today, arab today iraq pushes for investment as india seeks more oil

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday