London, UK–Volume of trade exchanges between the UK and Iraq has exceeded one billion dollars and imports and exports between the two nations have been significantly growing, a senior British official said on Friday.
Lord Tariq Ahmad, the British Minister of State for the Middle East, North Africa and South Asia, said in an exclusive statement to KUNA and Kuwait Television that there was astounding growth in the British-Iraqi trade exchanges last year, with the commerce volume between them exceeding one billion sterling pounds, with British exports to Iraq growing by 40 percent.
The British official was speaking on sidelines of the 11th conference of the British-Iraqi Business Council, held under the theme, “Iraq is open to the world.”
The United Kingdom has been investing in the social sector and education in Iraq, he said, alluding in particular to cooperation between the two countries’ universities.
Citing as a tangible evidence of the developing bilateral relations, he mentioned presence of the Iraqi President Abdulatif Rashid at the ceremonial crowning of Prince Charles III and the visit to Iraq by the Duchess of Edinburgh in May.
He affirmed pivotal role of the GCC in Iraq not only in investments but also in the country’s stability, alluding in this regard to the ministerial meeting of the international coalition against “Daesh” (so-called Islamic State group) in Riyadh last week.
Meanwhile, the Kuwaiti Ambassador to the UK and North Ireland Badr Al-Awadhi said in a statement to KUNA that Kuwait devotes particular concern to Iraq’s stability and prosperity and played a leading role in the international efforts to restore its stability, referring to the Kuwait’s hosting of the the conference for pledging aid for Iraq in 2018.
Kuwait is an economic gate for Iraq and its stability is useful for the two parties, he added.
Ambassador Al-Awadhi noted that the 2023 Arabian Gulf soccer tournament, hosted by the southern Iraqi city Basra in January, was attended by 15,000 Kuwaitis, noting that the decision by the Iraqi authorities to grant Kuwaiti passengers visas at the border could be helpful in boosting commercial and cultural cooperation between the two neighboring countries.
Kuwait Fund for Arab Economic Development is currently funding construction of modern schools in Baghdad and other Iraqi cities at a cost of USD 75 million, he said, citing another tangible example how the neighbors’ bilateral ties have been getting closer.
The honorary chairperson of the board, Baroness Emma Nicholson, praised Kuwait’s eminent role in supporting its neighbors, saying the Gulf state is a major partner for Iraq given the geopolitical status. Regions in southern Iraq have started to witness development due to the Kuwaiti support, she added.