Iraq has invited Indian companies to take part in its reconstruction programme either independently or through joint ventures with local partners, reports the Hindu Business Line.
Iraqi Deputy Prime Minister, Dr Rowsch Shaways (pictured), told the Indian Minister of Commerce, Industry and Textiles, Anand Sharma, that India is committed to deepen its relations with Iraq:
“The India-Iraq Joint Business Council needs to be activated so that the interaction between businessmen of both the countries could be maintained regularly … The apex chambers of commerce should interact on regular basis for arranging Joint Business Meetings to boost the bilateral trade.”
India is the biggest importer of Iraqi oil, but there is a need to diversify the trade basket. Suggesting food, construction, minerals, IT, pharmaceuticals, energy and automobile as sectors that can be part of diversifying the existing trade basket, Shaways invited Indian firms to Iraq.
India has become the favourite destination for Iraqis seeking quality medical treatment, with over 28,000 Iraqis visiting India in 2010 for medical treatment, education and tourism. Every day about 160 medical visas are issued to Iraqi citizens.
(Source: The Hindu Business Line)