Israel normalizes trade ties with Iraq
Israel’s Minister of Finance Benjamin Netanyahu has signed a general permit authorizing trade with Iraq. The new agreement normalizes commercial and financial ties between the two countries, marking the Jewish state’s recognition of Iraq as a hostile-free nation, reported Globes.
Israeli companies can now trade and invest in Iraq without facing any sanctions from the government. A group of Israeli industrial representatives reportedly made a trip to Baghdad last month in order to scope out business opportunities related to the reconstruction effort.
According to Haaretz, a number of Israeli firms are planning to open commercial offices in Iraq and are looking into the possibility of appointing local agents in the country.
US commerce officials have advised Israeli firms interested in reconstruction deals team up with Jordanian counterparts. Several Israeli firms have already been contacted by Jordanian companies, who require their neighbor’s expertise and funding. In addition, Israeli media reported that Turkish companies have also expressed interest in teaming up with Israeli companies in tenders for reconstruction in Iraq, particularly in the areas of infrastructure, water, construction, and energy.
Two Israeli firms who have shown interest in Iraq are infrastructure firm A. Arenson and the Solel Boneh Building and Infrastructure Company. A. Arenson has already reported receiving a Jordanian partnership offer. — (menareport.com)
© 2003 Mena Report (www.menareport.com)