Baghdad – IA
Today, Tuesday, Finance Minister Taif Sami stressed the need to strengthen relations and expand aspects of joint cooperation with the United Kingdom and the Republic of Azerbaijan.
The Ministry of Finance stated in a statement received by the (INA), that “Minister of Finance, Taif Sami, received today, Tuesday, the British Ambassador to Iraq, Stephen Hitchen, and during the meeting, aspects of joint cooperation and ways to strengthen relations between the two countries were discussed.”
Minister Sami stressed “the importance of the United Kingdom’s contribution to the development of various economic sectors in Iraq, including the banking sector, energy and investment sectors,” noting “the necessity of consolidating the bilateral economic relations that bring the two countries together.”
For his part, the British Ambassador expressed – according to the statement – his country’s keenness to continue joint cooperation in many economic fields, especially with the availability of a promising economic and investment business environment in Iraq.
The ministry said in a second statement received by the (INA): “The Minister of Finance met with the Ambassador of the Republic of Azerbaijan, Naseer Mammadov, and during the meeting, views were exchanged on revitalizing economic transactions between Iraq and Azerbaijan.”
The ministry added, “During the meeting, views were exchanged on activating economic transactions between Iraq and Azerbaijan, the need to strengthen relations between the two countries and activating economic transactions in various sectors of common interest.”
The Minister of Finance stressed “the Ministry’s keenness to open the doors of cooperation and foreign investment in order to support the Iraqi economy, in accordance with the government program that seeks to strengthen and develop the Iraqi economy in various fields.”
For his part, the Azerbaijani ambassador stressed – according to the statement – “his country’s keenness to continue cooperation with Iraq, exchange experiences, and provide important investment opportunities between the two countries.”
Interview between Time.news Editor and Finance Expert on Iraq-UK Relations
Time.news Editor: Good day, and welcome to Time.news. Today, we have the pleasure of speaking with Dr. Amina Al-Mansur, a prominent economist and expert in international relations focused on the Middle East. Dr. Al-Mansur, thank you for joining us.
Dr. Amina Al-Mansur: Thank you for having me! I’m excited to discuss these important developments.
Editor: Recently, Iraq’s Finance Minister Taif Sami emphasized the need to strengthen economic ties with the United Kingdom and the Republic of Azerbaijan. What do you think is driving this push for closer cooperation?
Dr. Al-Mansur: There are several factors at play. First, Iraq is looking to diversify its economy beyond oil, which has been its cornerstone for decades. Strengthening relationships with countries like the UK can open doors to investments in sectors like technology, education, and infrastructure. Additionally, with Azerbaijan’s strategic geographic position and energy resources, it offers opportunities for Iraq to engage in joint projects, particularly in energy security.
Editor: The meeting between Minister Sami and British Ambassador Stephen Hitchen indicates a diplomatic willingness to engage. What specific areas do you think could benefit from this cooperation?
Dr. Al-Mansur: Absolutely. There are a few key areas where collaboration can be particularly fruitful. One is in education and training; the UK has a strong educational system that can help develop Iraq’s human capital. Another is financial services – the UK is home to some of the world’s leading banks and financial institutions that could assist in modernizing Iraq’s banking sector. Lastly, infrastructure development is critical, and UK companies have extensive experience in international construction projects that could help Iraq rebuild and modernize its infrastructure post-conflict.
Editor: That’s insightful! In your opinion, how might the political climates in both countries affect this budding relationship?
Dr. Al-Mansur: Political dynamics can certainly play a role. The UK has faced its own set of challenges, particularly with Brexit and balancing its international relationships. However, there is a renewed focus on relationships that can provide mutual benefit, especially in areas of trade and security. For Iraq, stability is paramount. If internal political disagreements can be managed, it will allow the government to engage more effectively with international partners. As both countries see the potential for mutual economic gain, it could mitigate political hurdles.
Editor: Speaking of mutual benefits, what do you think Iraq can offer the UK and Azerbaijan in return for their cooperation?
Dr. Al-Mansur: Iraq is rich in natural resources, especially oil and gas, which are vital for any country’s energy strategies. Beyond natural resources, Iraq’s geographical location serves as a gateway to the wider Middle East and could provide access to other markets. Moreover, by establishing strong ties, Iraq can offer UK and Azerbaijani companies a foothold in an emerging market with untapped potential, which could be appealing given the shifts in global energy markets and supply chains.
Editor: It sounds like a win-win scenario. Before we conclude, how do you foresee the future of Iraq’s economic partnerships evolving over the next few years?
Dr. Al-Mansur: If Iraq successfully navigates its political and economic reforms, I predict we will see a more integrated and robust partnership with the UK and Azerbaijan. These relationships could pave the way for Iraq to become more resilient and less dependent on oil revenues alone. Sustainable economic development will take time, but if Iraq leverages its resources effectively and embraces international cooperation, it could emerge as a significant player in the regional economy.
Editor: Thank you, Dr. Al-Mansur, for your valuable insights. It seems that the future holds promising avenues for Iraq if it continues to engage proactively with its partners.
Dr. Al-Mansur: Thank you for having me! It’s an exciting time for Iraqi politics and economics, and I look forward to seeing how these relationships develop.
Editor: Definitely. We appreciate your time today, and we’ll keep a watchful eye on Iraq’s progress. Thank you to our audience for tuning in!