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Iraq Business

Iraq Assumes Presidency of Economic and Social Council

By John Lee. Iraq has assumed the presidency of the Economic and Social Council at the ministerial-level meeting in Baghdad, part of the preparations for the Fifth Arab Economic and Social Development Summit. The outgoing president, Lebanese Minister of Economy and Trade Amir Bisat, expressed confidence in Iraq's leadership. Taking over the presidency, Iraq's Minister of Trade, Mr. Athir Dawood Salman [Atheer Dawood Al-Ghurairi], emphasised the need for greater collective Arab efforts to build a resilient economy. The Secretary-General of the League of Arab States, Mr. Ahmed Aboul Gheit, congratulated Iraq and stressed the importance of a unified Arab vision for economic integration. Full statement from the Ministry of Foreign Affairs: The ministerial-level meeting of the Economic and Social Council, launched in Baghdad, as part of the preparations for the Fifth Arab Economic and Social Development Summit. The session opened with a speech by Mr. Amir Bisat, Minister of Economy and Trade of the Lebanese Republic and President of the Council's previous session. He highlighted key accomplishments achieved during Lebanon's tenure and underscored the importance of continued joint Arab action in addressing the region's pressing challenges. Minister Bisat officially handed over the presidency of the Council to the Republic of Iraq, expressing appreciation for Iraq's steadfast support of Arab causes, particularly its solidarity with Lebanon during times of hardship. He also conveyed his confidence in Iraq's ability to lead the Council with competence and ability. The Minister of Trade Mr. Athir Dawood Salman assumed the presidency of the current session and welcomed the participating Arab delegations to "Baghdad of Peace" and commended Lebanon for its constructive leadership in the previous session. In his remarks, Minister Salman emphasized that "the Arab nation stands at a historic juncture that calls for deepened collective efforts and greater self-reliance to build a robust and productive Arab economy capable of overcoming regional and global challenges." Secretary-General of the League of Arab States, Mr. Ahmed Aboul Gheit congratulated Iraq on assuming the presidency and extended his best wishes for a successful term. He noted the rapid transformations taking place across the Arab economy and stressed the need for a unified Arab vision that promotes regional integration and market stability. Secretary-General Aboul Gheit also highlighted Iraq's positive trajectory and affirmed that the summit's agenda will focus on the region's most pressing economic and developmental priorities. (Source: Ministry of Foreign Affairs)