UAE to invest $3 billion in Iraq, direct flights to Abu Dhabi scheduled

Vice-President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan met Kadhimi at separate meetings in Dubai and Abu Dhabi.
Monday 05/04/2021
Sheikh Mohamed bin Zayed al-Nahyan (R), Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, receives Iraq’s Prime Minister Mustafa al-Kadhimi in Abu Dhabi, April 4, 2021. (AFP)
Sheikh Mohamed bin Zayed al-Nahyan (R), Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, receives Iraq’s Prime Minister Mustafa al-Kadhimi in Abu Dhabi, April 4, 2021. (AFP)

ABU DHABI--The United Arab Emirates will invest $3 billion in Iraq, it said in a joint statement at the end of Iraqi Prime Minister Mustafa Kadhimi’s visit to UAE, state news agency (WAM) reported.

“UAE announced its investment of three billion dollars in Iraq. The initiative aims to strengthen economic and investment relations, create new opportunities for cooperation and partnership, and advance economic, social, and developmental growth in support of the brotherly Iraqi people,” the statement said, according to WAM.

Earlier in the day, vice-president and prime minister of the UAE and ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan held separate meetings Kadhimi in Dubai and Abu Dhabi.

Both countries agreed to grow economic cooperation and accelerate trade and investment exchanges.

The two sides also announced the formation of the Iraqi-UAE Business Council to boost cooperation. Additionally, they agreed to propel energy cooperation, particularly in the field of clean energy.

According to WAM, the two countries also doubled down on the importance of strengthening security and defense cooperation and intelligence-sharing in their fight against terrorism.

Iraq commended the UAE’s initiative to renovate Iraq’s Al Hadba Minaret, the Great Mosque of al-Nuri and a number of churches, official news agency WAM reported.

Ahead of Kadhimi’s visit to Abu Dhabi on Sunday, Iraqi Airways announced plans to start direct flights to the United Arab Emirates’ capital Abu Dhabi from May 1, according to state-run Iraqi News Agency.

Khadimi’s UAE trip  follows one to Saudi Arabia last week, during which Riyadh said it would increase investments in Iraq by five-fold to $2.67 billion.