AMMAN, 17 June 2007 — The Iraq Business Council is due to hold a meeting at Jordan’s Red Sea port of Aqaba on June 30 to appraise the role of the facility in Iraq’s reconstruction, IBC’s chairman Saad Naji said yesterday.
At least 40 leading Iraqi investors in various sectors are due to take part in the three-day meeting “which seeks to acquaint Iraqi businessmen with the investment environment of the Aqaba Special Economic Zone (ASEZ) that could be of benefit in terms of helping the process of rebuilding Iraq”, Naji said in a statement.
“The Iraqi businessmen will, in particular, focus on utilizing the multi-transport systems and logistic services available at Aqaba in such a manner that facilitates their linkup with the Iraqi market.”
Over the past three decades, Aqaba has been used as a major conduit for Iraq-destined trade, particularly during the Iraq-Iran war and the UN sanctions on Iraq that were imposed after the former regime of President Saddam Hussein invaded Kuwait in August 1990.
Iraq’s Ministry of Industry and Minerals (MIM) is seeking strong international investors to enter into joint venture production-sharing partnerships with its state-owned plants in several industries, including cement, glass and ceramics, paper, petrochemical, iron and steel, sanitary ware, and automotive.