Lisbon: Foreign Minister Fuad Hussein met today in Lisbon, the Portuguese capital, with representatives of the Arab-Portuguese Chamber of Commerce and Industry, in the presence of a number of Portuguese businessmen and investors, on the sidelines of his official visit to Portugal.
According to National Iraqi News Agency, the Minister emphasized that Iraq attaches great importance to strengthening its economic relations with Portugal and expanding cooperation with the private sector, in order to build strategic partnerships that serve the mutual interests of both countries. He noted that Iraq is experiencing a significant phase of stability and economic openness, offering promising investment opportunities in various sectors. The Minister reviewed the most prominent projects being implemented by the Iraqi government, particularly in the fields of energy, gas, petrochemical industries, agriculture, housing, renewable energy, and religious tourism, as well as new residential city projects. He affirmed that the government is working to provide an attractive investment environment and offer the necessary facilities to foreign investors and companies.
The Minister affirmed that Iraq is a crucial strategic partner for Europe in the energy, trade, and transportation sectors. He emphasized the importance of diversifying oil export routes by developing pipeline projects towards Turkey, Syria, and Jordan, thereby enhancing energy security and providing alternative export routes, particularly given current regional developments and the challenges facing maritime traffic through the Strait of Hormuz. He noted that these projects open up significant opportunities for international companies to contribute to infrastructure and energy projects in Iraq.
The Minister invited Portuguese businesspeople and investors to visit Iraq and explore the available investment opportunities, stressing the importance of strengthening the Portuguese diplomatic presence in Iraq, given its role in supporting bilateral relations and developing economic, trade, and investment cooperation between the two countries.
The statement continued, "During the meeting, extensive discussions took place with representatives of Portuguese companies, addressing ways to enhance economic cooperation, explore investment opportunities in the Iraqi market, and expand partnerships between the private sectors of both countries, in a manner that serves mutual interests and promotes economic development. The Minister expressed his appreciation to the Arab-Portuguese Chamber of Commerce and Industry for this meeting, emphasizing Iraq's keenness to strengthen cooperation with economic institutions and the private sector in Portugal, and to translate the shared political will into tangible economic and investment partnerships and projects."