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Italy seeks to reinvigorate commercial exchange with Iraq

Category: Economy

Date: 2022-02-17T15:15:08+0000
Italy seeks to reinvigorate commercial exchange with Iraq

Shafaq News/ The volume of commercial exchange between Italy and Iraq grew to more than five billion Euros before the emergence of COVID-19, Italy's Ambassador to Iraq Maurizio Cricante said, expressing his country's willingness to develop cooperation prospects between both countries. 

Cricante's remarks came during a symposium he attended in the capital of the Kurdistan Region, Erbil, earlier today, Thursday. 

The European diplomat said that his country is committed to "upholding Iraq's stability and security. The stability of this country and the prosperity of its people is in our interest."

"Iraq is a pivotal country in the region. If it is not stable, the entire region is unstable," he continued, "We seek to bolster the ties between both sides and activate the investment, commercial, cultural, agricultural, and industrial aspects."

"Agriculture is a vital sector to Italy; Oil and gas are as important. For two years, Ital's largest companies have been pumping oil in southern Iraq," he added, "Italy aspires to expand its presence in Iraq to other sectors, rather than oil and gas."

"The volume commercial exchange between Iraq prior to the spread of COVID-19 amounted to five million Euros. Since last year, we have been working to restore the normal state."

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