INA–Baghdad
Foreign Minister Fuad Hussein affirmed on Friday that Iraq is a key strategic partner for Europe in the fields of energy, trade, and transportation, stressing Iraq’s strong commitment to strengthening its economic ties with Portugal.
A statement from the Ministry of Foreign Affairs, received by the Iraqi News Agency (INA), said that “Foreign Minister Fuad Hussein met in Lisbon, the capital of Portugal, with representatives of the Arab-Portuguese Chamber of Commerce and Industry, in the presence of several Portuguese business leaders and investors, on the sidelines of his official visit to the Portuguese Republic.”
The statement added that “during the meeting, organized by the Embassy of the Republic of Iraq in Lisbon in cooperation with the Arab-Portuguese Chamber of Commerce and Industry, the Minister stressed that Iraq attaches great importance to strengthening its economic relations with Portugal and expanding cooperation with the private sector, thereby contributing to the establishment of strategic partnerships that serve the mutual interests of both countries.”
The Minister noted that “Iraq is witnessing an important phase of stability and economic openness, creating promising investment opportunities across various sectors.” He reviewed the government’s major projects, particularly in the fields of energy, gas, petrochemical industries, agriculture, housing, renewable energy, religious tourism, and new residential cities.
He emphasized that “the government is working to provide an attractive investment environment and offer the necessary facilities for investors and foreign companies.”
The Minister explained that “Iraq is a key strategic partner for Europe in the fields of energy, trade, and transportation,” pointing to “the importance of diversifying oil export routes through the development of pipeline projects to Turkey, Syria, and Jordan. These projects will strengthen energy security and provide alternative export routes, particularly in light of current regional developments and the challenges facing navigation through the Strait of Hormuz.”
He added that these projects open broad opportunities for international companies to contribute to Iraq’s infrastructure and energy sectors.
According to the statement, Hussein invited Portuguese business leaders and investors to “visit Iraq and explore the investment opportunities available,” stressing “the importance of strengthening Portugal’s diplomatic presence in Iraq, given its role in supporting bilateral relations and advancing economic, trade, and investment cooperation between the two countries.”
The statement continued that “the meeting included extensive discussions with representatives of Portuguese companies on ways to strengthen economic cooperation, explore investment opportunities in the Iraqi market, and expand partnerships between the private sectors of both countries in a manner that serves mutual interests and promotes economic development.”
Hussein also expressed his appreciation to the Arab-Portuguese Chamber of Commerce and Industry for organizing the meeting, reaffirming Iraq’s commitment to strengthening cooperation with Portuguese economic institutions and the private sector, and translating the shared political will into tangible economic and investment partnerships and projects.
