Sudani and Erdogan shake hands at the conclusion of their meeting at the Presidential Palace in Ankara. AFP
Sudani and Erdogan shake hands at the conclusion of their meeting at the Presidential Palace in Ankara. AFP
Sudani and Erdogan shake hands at the conclusion of their meeting at the Presidential Palace in Ankara. AFP
Sudani and Erdogan shake hands at the conclusion of their meeting at the Presidential Palace in Ankara. AFP

Iraq and Turkey agree to co-operate on water scarcity and security concerns


Sinan Mahmoud
  • English
  • Arabic

Iraq and Turkey agreed on Tuesday to boost bilateral relations and co-operation in all fields during the first day of Iraqi Prime Minister Mohammed Shia Al Sudani's visit to Ankara.

Mr Al Sudani and Turkish President Recep Tayyip Erdogan struck a positive tone during a press briefing, saying they are focusing on security, trade and the economy as well as on alleviating water scarcity in Iraq.

“We had constructive and fruitful discussions as well as serious and responsible talks,” Mr Al Sudani said. “We focused on enhancing relations between the two countries in all fields, especially in the economy.”

Both leaders discussed plans for a massive infrastructure project known as the Dry Canal or Development Road that will run from southern Iraq to the border with Turkey.

The project involves the construction of 1,200 kilometres of rail networks and new motorways that expand outward from Al Faw Port on the Arabian Gulf in Basra province, which is currently under construction. The network will then be connected to rail and road networks in Europe through Turkey.

“We discussed bilateral relations and we stressed on our determination to work together in order to accomplish the Development Road project by constructing railway lines and motorway from Basra to the Turkish borders,” Mr Erdogan said.

“This will boost the regional co-operation and improve our trade and at the same time boost our humanitarian relations in this region.”

Iraq is keen to join China’s Belt and Road Initiative — a global development strategy involving infrastructure development and investments in almost 70 countries in Asia, Africa and Europe — through the $7 billion port project

Kurdish rebels

For years, Turkey has maintained military bases in Iraq’s northern Kurdish region and launched military operations against the Kurdistan Workers' Party, or PKK, which has been designated as a terrorist group by the US and the EU.

Along with PKK, the Kurdish Democratic Party of Iran, or KDPI, is also based in the Kurdish region of Iraq.

The two groups have been the targets of almost daily cross-border attacks by both Turkey and Iran.

Tehran and Ankara accuse the groups of attempting to destabilise their security and fuel unrest by carrying out armed attacks from Iraqi territory.

Pressured by Iran and Turkey, Iraq sent military units late last year to its borders with the two countries in an effort to stop attacks by dissident Kurds.

Mr Al Sudani said Iraq “is committed not allowing its territory to be used as a launching pad for aggressions against Turkey, and that the security of the region is one indivisible security”.

“We will definitely reach a solution to these security problems through intelligence sharing and co-operation away from using force in a way to protect Iraq's security and sovereignty,” he added.

For his part, the Turkish President said: “We expect that our Iraqi brothers to recognise PKK a terrorist group and purge Iraqi territory of these bloody terrorist organisations.”

Water scarcity

Iraq has suffered severe environmental degradation and water scarcity as a result of climate change, alarming levels of pollution and mismanagement.

The country is experiencing its worst drought in decades, with temperatures above 50°C last summer. Many of Iraq’s lakes have shrunk.

The country is ranked the fifth most vulnerable in the world to climate change, the UN Environment Programme reported.

A network of Turkish dams on the Tigris and Euphrates rivers built over the past 50 years have made water scarcity problems worse. Iran has also built dams on tributaries feeding the Tigris.

The rivers, which account for more than 90 per cent of Iraq's freshwater, currently receive less than 30 per cent of their normal flow from Turkey and Iran, Deputy Environment Minister Jassim Al Falahi said last week.

Mr Erdogan said: “We realise the water scarcity in Iraq, but the precipitation in Turkey is at its lowest level in 62 years. We are going through a drought that is further deepening due to climate change”.

Despite that, he continued, Turkey decided to increase water flow to Tigris for a month “as much as possible to alleviate Iraq's problem”.

As to the economy, Mr Erdogan said the volume of trade between Iraq and Turkey “broke the record”, exceeding $24 billion last year. He called for the removal of “non-tariff barriers and trade restrictions” to further increase commerce.

Mr Al Sudani will hold meetings on Wednesday with Turkish officials and companies.

About Tenderd

Started: May 2018

Founder: Arjun Mohan

Based: Dubai

Size: 23 employees 

Funding: Raised $5.8m in a seed fund round in December 2018. Backers include Y Combinator, Beco Capital, Venturesouq, Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, SOMA, Dynamo and Global Founders Capital

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

The finalists

Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho

Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson

Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)

Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)

Club of the Year: Bayern Munich, Liverpool, Real Madrid

Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)

Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola

One in nine do not have enough to eat

Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.

One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.

The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.

Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.

It is currently estimated that one in nine people globally do not have enough to eat.

On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.

Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.

 

MATCH INFO

Manchester City 3 (Silva 8' &15, Foden 33')

Birmginahm City 0

Man of the match Bernado Silva (Manchester City)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The years Ramadan fell in May

1987

1954

1921

1888

JOKE'S%20ON%20YOU
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Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

It

Director: Andres Muschietti

Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor

Three stars

Updated: March 22, 2023, 4:23 AM