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The Opportunity for Arab Economic Integration

The Opportunity for Arab Economic Integration

Wednesday, 7 December, 2022 - 10:30
Mohammed Shia Al-Sudani 
Prime Minister of Iraq.

The Arab-Chinese States Summit in Riyadh comes at a time when the world is witnessing significant political and economic changes and major conflicts, just as Iraq emerges from a difficult political period. Therefore, Iraqi participation in this summit is of particular importance, as this would be an occasion to share the new economic vision of our government with our Arab brothers, our Gulf neighbors, and our Chinese friends. We see this as a great opportunity that presents considerable scope for cooperation and joint investment for all countries participating in this summit.  


Our government attaches great importance to the modern management of the economy, as we firmly believe that building a strong Iraqi economy capable of achieving the desired changes is based on harnessing the wealth of creativity and enormous youth energy and creating great investment opportunities that produce various job opportunities for a country where youth make up the majority of the population. 


Investment is within a safe environment and contributes to strengthening and improving the foundations of cooperation with world countries based on the principle of protecting shared investment interests. We are keen on transforming Iraq into a hub for economic integration and a meeting point for the East and West. Energetic peoples and wise nations are capable of that.  


Trade cooperation with China is happening already, but Iraq is looking forward to further than that. We are seeking to emulate China's successful experiences in areas such as combating poverty, as China managed to lift hundreds of millions of its citizens from poverty, combating desertification and climate change, and moving from a state economy to a market economy. 


I believe this summit is an excellent opportunity for economic and investment integration between Iraq and neighboring countries and for benefiting from the Chinese experience in the field of economic integration with the countries of the world.  


This economic experience can create the atmosphere for Arab economic integration by taking advantage of the presence of China as a partner to develop a sustainable and integrated Arab economy through the exchange of trade and investment opportunities and technological information.  


Our government believes that Iraq's strategic location, historical heritage, regional importance, abundance of resources, and impact on the world's economy give it the right to play a major role that befits it for establishing the best relations with other countries on the basis of mutual interests with neighboring, Arab, and friendly countries. 


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