Latest news with #Iraqi-Iranian
Arab Times
14-06-2025
- Business
- Arab Times
Economists call for the acceleration of the ‘Northern Economic Zone' project
KUWAIT CITY, June 14: A general policy titled, 'Building a Special International Economic Zone', is listed on the official website 'New Kuwait' – specifically under the section for public policies and supporting projects, and directly beneath it is a single associated project – 'Developing the Northern Economic Zone.' According to the website, the project is scheduled for completion in 2026, yet the reported implementation rate remains at zero percent. The website defines the project as 'the establishment of a zone governed by special laws and regulations designed to attract investment, supported by an independent institutional framework that ensures the attraction of high value-added global investments, fosters innovation, and guarantees transparency in the management of financial resources.' Progress to date has been limited to activating the agreement between the responsible agency and the People's Republic of China to prepare the master plan for the Silk Road Project, and proposing legislation and procedures aimed at creating a business-friendly economic zone. No substantial advancement has been recorded since then, until the Cabinet meeting held recently, in which the implementation of the project was reportedly tackled. The newspaper interviewed economists to assess the importance of the Northern Economic Zone and the feasibility of completing it by 2026 -- particularly given the recent momentum of reform in Kuwait. Experts emphasized that the launching of the project will be beneficial for the national economy in multiple dimensions, including job creation for newly graduated Kuwaiti youths. Its strategic location near Mubarak Port and the Iraqi-Iranian border was also highlighted as a factor that could significantly boost the long-term success of the zone, likening it to a modern economic free zone. Economists indicated that the government, under its current reform-focused approach, has demonstrated a genuine commitment to diversifying national income sources and addressing future budget deficits by pursuing ambitious development initiatives such as this one. Analyst and economic expert Sultan Al-Jazzaf believes that the Northern Economic Zone will serve the economy in several areas; specifically in terms of giving a significant role to the local private sector, as well as attracting foreign capital, reducing unemployment rates, and helping the State diversify sources of income, especially with expectations of a large deficit in the general budget of the country this year due to the price of a barrel of oil falling below the $68 projected in the budget. Al-Jazzaf pointed out that this is especially true given that the government estimated the price of a barrel of oil in the current budget at around $68, and considering that its price recently reached $64; this matter highlights the need to rely on sources of support for the economy and the budget other than oil. He praised all the efforts currently being exerted by the government to diversify sources of income, including the Northern Economic Zone project. He stated that the advantages of the zone include its proximity to Mubarak Port, as well as its proximity to the Iraqi and Iranian markets. He said this location will stimulate economic and trade activity with neighboring countries. He is hoping that this project will be implemented as soon as possible, especially since the government has proven, through its proposal, that it is thinking from an economic perspective. 'Economic zones, in general, create competitive clusters with the potential to achieve sustainable growth; as they offer many diverse options for good investment opportunities, in addition to their role in trade exchange through the presence of constant activity,' he added. Economic and real estate expert Qais Al-Ghanim confirmed that the idea of establishing the zone, recently announced by the government, has been delayed significantly. 'It should have been implemented in 2003, given its extreme importance to Mubarak Port; taking into consideration it will be a free zone, serving both Kuwait and Iraq, allowing Iraqis to enter the region without a visa -- similar to the region located between Syria and Jordan,' he elaborated. He pointed out that the zone will serve the Kuwaiti private sector; thereby, increasing sales for factories and commercial companies, indicating the zone will generate many jobs for young Kuwaiti graduates. Economic expert and former head of Kuwait Contracting Companies Union Dr. Salah Bouresli said the economic zone is a 100 percent sound idea, as it will enhance private sector activity by attracting a wide variety of investments, which will add new value to the State budget through fees. 'Furthermore, it is a major infrastructure project. Its role will not be limited to the economic aspect alone, as it will also create other social benefits, including employing young Kuwaitis and strengthening economic relations between Kuwait and its neighboring countries.' At the same time, he expressed hope that the government will expand green spaces in the zone to include entertainment and service cities, which will stimulate the contracting market, the engineering sector, and many other private sector projects. He believes this zone will lead to a tremendous boom for the Kuwaiti banking sector, which will finance small and large projects established in the zone. 'This is in addition to its importance for logistics and warehousing services, especially since this economic zone will enjoy attractive investment laws, considering it will attract more global investments, not just local ones. This is especially true given that global economic cities offer a variety of investments; provide integrated service, logistics and residential facilities; create a competitive business environment; increase government-private partnership projects; and offer major facilities that the government will provide to investors.
Shafaq News
14-05-2025
- Politics
- Shafaq News
Quds Force leader arrives in Baghdad
Shafaq News/ On Wednesday, Iranian Quds Force commander Esmail Qaani arrived in Baghdad for an official visit. Iraqi National Security Advisor Qassem Al-Araji revealed on X that he received General Qaani and discussed ways to strengthen Iraqi-Iranian relations, enhance border security cooperation, and follow up on the implementation of the bilateral security agreement, affirming the importance of successful negotiations between Washington and Tehran. استقبلنا قائد فيلق قدس الإيراني الجنرال إسماعيل قاآني، الذي يزور بغداد، وبحثنا معه سبل تطوير العلاقات العراقية - الإيرانية، والجهود المشتركة لتأمين الحدود ومراحل تنفيذ بنود الإتفاق الأمني بين البلدين، وشددنا على أهمية نجاح المفاوضات بين واشنطن وطهران، وإلتزام الجميع بالحوار… — قاسم الاعرجي (@qassimalaraji) May 14, 2025 Qaani's arrival in Baghdad marks his third known visit in 2025. His previous unannounced trips, in January and March, focused on regional security coordination, de-escalation efforts amid rising US-Iran tensions, and direct engagement with Iraqi faction leaders and government officials.
Iraqi News
07-03-2025
- Climate
- Iraqi News
Meteorology: 4-magnitude earthquake hits Iraqi-Iranian border
Baghdad-INA The Meteorology Authority announced today, Friday, that an earthquake of 4 degrees was recorded on the Iraqi-Iranian border, southeast of the city of Kalar in Sulaymaniyah Governorate. A statement by the Authority received by the Iraqi News Agency (INA): stated that "the seismic observatories recorded an earthquake this evening, Friday, on the Iraqi-Iranian border, with a magnitude of (4) degrees, about (9) km southeast of the city of Kalar in Sulaymaniyah Governorate in Kurdistan Region."
Iraqi News
22-02-2025
- Politics
- Iraqi News
MOI and his Iranian counterpart discuss border security and cooperation in combating drugs
Baghdad - INA Interior Minister Abdul Amir Al-Shammari and his Iranian counterpart Iskandar Momeni discussed, today, Saturday, the security of the joint borders and cooperation in the field of combating drugs, psychotropic substances and organized crime. A statement by the ministry - received by the Iraqi News Agency (INA) - stated that "Interior Minister Abdul Amir Al-Shammari held a meeting with his Iranian counterpart Iskandar Momeni, in the presence of a number of security leaders and officers from both countries, in addition to the head of the Border Ports Authority and the head of the Service Committee for Millions of Visits." The statement added that "the meeting discussed the security of the Iraqi-Iranian borders, and cooperation in the field of combating drugs, psychotropic substances and organized crime." He continued, "The meeting also witnessed the discussion of preparations to receive Arbaeen visitors, in addition to a number of topics of common interest, and the signed agreement on mutual recognition of driving licenses for residents of both countries and other topics related to security fields."
Iraqi News
06-02-2025
- Politics
- Iraqi News
Rashid: Foreign policy depends on our people and their vision for security in the region
Baghdad - INA President of the Republic Abdul Latif Jamal Rashid confirmed today, Thursday, that our foreign policy is based on the interests of the people and their vision for security and stability in the region. The media department of the Presidency of the Republic said in a statement - received by the Iraqi News Agency (INA): "President of the Republic Abdul Latif Jamal Rashid received today, Vice President of the Islamic Republic of Iran for Strategic Affairs Mohammad Javad Zarif and his accompanying delegation." It added that "Zarif conveyed the greetings of Iranian President Masoud Pezeshkian to President of the Republic Abdul Latif Jamal Rashid and his wishes for the Iraqi people for further development and prosperity, while the President of the Republic conveyed his greetings and appreciation to President Pezeshkian." Rashid stressed during the meeting, according to the statement, "Iraq's keenness to strengthen relations between the two countries and develop mechanisms for bilateral cooperation in a way that serves common interests," noting that "our foreign policy is based on the interests of our people and their vision for security and stability in the region." He stressed "the importance of adopting constructive and productive dialogue in resolving the issues and crises facing the countries of the region." Regarding the developments in Palestine, Rashid stressed "Iraq's firm position in supporting the Palestinians to achieve their rights and self-determination by establishing their independent state." He stated that "Iraq has good relations with neighboring countries and the world, and based on its pivotal role, it has sought to enhance opportunities for peace and bring the views of regional parties closer together." For his part, the Iranian Vice President referred to "the depth of Iraqi-Iranian relations," noting "the religious, geographical, social and historical ties that bind the two neighboring peoples." He stressed "the important role of the two countries in consolidating the pillars of peace and stability at the Arab and regional levels," renewing "his country's support for Iraq in defending its security and protecting its sovereignty and independence."
