logo
Iraq reviews cooperation with Czech-based Aero Vodochody, UNIS

Iraq reviews cooperation with Czech-based Aero Vodochody, UNIS

Iraqi News14-02-2025

Baghdad (IraqiNews.com) – As part of his official visit to the Czech Republic, the Iraqi Prime Minister, Mohammed Shia Al-Sudani, met with representatives of UNIS, which specializes in oil and gas processing, and Aero Vodochody, the largest aircraft manufacturer in the Czech Republic.
With an emphasis on creating integrated relationships with specialist foreign corporations, the discussions revolved around methods to improve collaboration between the Iraqi government and two Czech companies.
Through the implementation of oil, gas processing, and petrochemical production projects and the advancement of aviation maintenance abilities, these alliances seek to fortify these sectors in Iraq.
Because of its experience and the potential advantage it may provide Iraq with in its fields of competence, Al-Sudani underlined Iraq's commitment to strengthening ties with Czech businesses.
The Iraqi prime minister also emphasized the government's commitment to fostering an investment-friendly environment, making sure that the resources and the assistance required to localize different industries in Iraq are available.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Iraq: Airspace closure unlikely to disrupt dollar transfers from US
Iraq: Airspace closure unlikely to disrupt dollar transfers from US

Shafaq News

time2 hours ago

  • Shafaq News

Iraq: Airspace closure unlikely to disrupt dollar transfers from US

Shafaq News/ The recent suspension of air traffic is unlikely to affect the flow of US dollars into Iraq, amid escalating regional tensions, the Iraqi parliament's Finance Committee stated. Committee member Moein Al-Kadhimi told Shafaq News that Iraq's oil revenues from exports are sent to an account at the US Federal Reserve, and later transferred to Iraq through financial remittances, rather than in the form of physical cash. 'Transfers are made from the Central Bank of Iraq to the US Federal Reserve,' Al-Kadhimi explained, 'and from there, the funds are sent to various countries from which Iraq imports goods for both the public and private sectors.' He clarified that the suspension of aviation does not impact Iraq's ability to receive its oil revenues, adding that $1 to $2 billion still reaches Iraq in cash, ensuring domestic liquidity remains stable. 'Employee salaries will not be affected in any way. Cash flow is available, and salaries will be paid on schedule,' he emphasized. Earlier, the Iraqi Civil Aviation Authority announced an extension of the closure of Iraqi airspace to all inbound and outbound flights, following an unprecedented wave of military escalation between Israel and Iran.

Iraq warns: Oil could hit $300 amid Iran-Israel escalation
Iraq warns: Oil could hit $300 amid Iran-Israel escalation

Shafaq News

time6 hours ago

  • Shafaq News

Iraq warns: Oil could hit $300 amid Iran-Israel escalation

Shafaq News/ On Saturday, Iraq's Foreign Minister Fuad Hussein warned that global oil prices could surge to $300 per barrel if military tensions between Iran and Israel continue to escalate. The warning came during a phone call with his German counterpart, Foreign Minister Johann Wadephul, as the two discussed rising instability in the Middle East and its potential fallout for Iraq and the broader region. According to a statement from Iraq's Foreign Ministry, Wadephul underlined Germany's commitment to Iraq's stability, stressing the need to shield the country from the consequences of any wider conflict. He also pointed to the need to revive nuclear negotiations between Iran, the United States, and European nations as a key step toward de-escalation. Hussein welcomed Berlin's position but voiced concern over repeated Israeli violations of Iraqi airspace, describing them as breaches of sovereignty and international law. He further urged Germany and the international community to take a firm stance against such actions. He concluded by warning that continued escalation could drive new waves of migration toward Europe, calling for urgent international efforts to address the root causes of the crisis and prioritize diplomatic solutions.

Iraq Approves Measures to Boost Domestic Industrial Oil Production
Iraq Approves Measures to Boost Domestic Industrial Oil Production

Iraq Business

time12 hours ago

  • Iraq Business

Iraq Approves Measures to Boost Domestic Industrial Oil Production

By John Lee. The Iraqi Cabinet has approved the recommendations of the committee tasked with reviewing and addressing issues related to locally produced and imported industrial oils, as part of broader efforts to strengthen the domestic manufacturing sector. Key decisions include: Formation of a committee chaired by the Deputy Minister of Oil, with members from the Federation of Industries, the Central Organisation for Standardisation and Quality Control (COSQC), technical and economic departments of the Ministry of Oil, Midland Refineries Company (MRC), Organised Crime Directorate, Industrial Development Directorate, Customs, Border Crossings Authority, and private-sector blending and packaging facilities. The committee is mandated to monitor developments related to the product reports, engage relevant stakeholders to address obstacles to production, blending, packaging, and marketing, and promote modern specifications to support domestic manufacturing. The ultimate goal is to phase out imports and prepare export plans for surplus production. The committee will review production and manufacturing trends for motor oils based on reports from regulatory and technical bodies, focusing on volumes and types produced. The aim is to support local industry, attract private investment, create youth employment, reduce reliance on imports, and open up export opportunities under an incentive-driven framework. These measures are part of Iraq's broader industrial policy to develop competitive local products and encourage sustainable economic growth. (Source: Iraqi Government)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store