Kurdistan Region and UAE to establish joint business council
ERBIL (Kurdistan 24) – The Kurdistan Region and the United Arab Emirates (UAE) are set to open an economic center for expanding trade ties between Erbil and Abu Dhabi, the Kurdish investment board announced Tuesday.
The efforts to establish the new council were discussed in a meeting between the UAE Consul General in Erbil Ahmed Al Dhaheri and the head of the Kurdistan Regional Government (KRG) Board of Investment in Erbil, according to a statement.
At least six Emirati banks are discussing opening branches in the Kurdistan Region, the diplomat told the investment official.
Planned to be inaugurated in July, the council is intended to serve as a bridge between Kurdish and Emirati businesspeople and increase bilateral investments.
The Arab country also eyes developing its ties in the agricultural sector with the Kurdistan Region, the statement added.
Prime Minister Masrour Barzani has visited the Gulf nation three times this year to foster economic ties, particularly in the agriculture and investment sectors.
In a meeting with the UAE Minister of Economy Abdulla Bin Touq Al Marri on the sidelines of the World Government Summit in Dubai, Barzani discussed the “successful experience” the UAE has had in banking, investment, and reconstruction.
“We desire to increase our investments in Iraq, especially in the Kurdistan Region,” Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei told Kurdistan 24 in late March.