Iraq to host conference pushing for regional economic bloc

Baghdad is increasingly taking on the role of a mediator to ease tensions among neighbouring countries

Iraqi Prime Minister Mohammed Shia Al Sudani shakes hands with Qatar's Emir Sheikh Tamim during a welcome ceremony in Baghdad on Thursday. Reuters

Iraq will host a conference to promote the idea of a regional economic group of nations, Prime Minister Mohammed Shia Al Sudani said late on Thursday.

“Iraq will host by the end of this year the Baghdad Conference 2023 for Economic Integration and Regional Stability,” Mr Al Sudani said during a joint press conference with the Emir of Qatar Sheikh Tamim in the Iraqi capital.

For the last few years, Baghdad has been taking on the role of a mediator to ease regional tensions and garner support from neighbouring states.

Baghdad is pushing to create a successful economic bloc between the Arab states and the international community, Mr Al Sudani said, spelling out the aim of the conference.

“Iraq is ready to work with our regional partners to achieve peace, development and prosperity,” he said.

Mr Al Sudani said Baghdad has “regained its natural position and role in the region and it is ready to work with others to achieve peace and stability”.

Sheikh Tamim's one-day visit to the country resulted in Qatar's pledge of $5 billion in various projects during the next few years.

“We discussed with the Emir of Qatar investment opportunities in construction and reconstruction inside Iraq, and the participation of Qatari companies in infrastructure projects,” Mr Al Sudani said.

Sheikh Tamim's visit involved discussions on joint partnerships for a huge project near the southern port city of Basra and an continuing project to connect the country's electricity grid with that of countries in the Gulf Co-operation Council.

Several memorandums of understanding were signed between the two countries, including with Qatar's private companies in the fields of energy, electricity and construction, according to a statement from the prime minister's office.

In addition, several memorandums of co-operation in the energy sector were signed, including agreements related to crude oil, liquefied gas supply to Iraq, the establishment of a joint oil company and the construction of an oil refinery, the statement said.

Doha is interested in having a major investment role in a $17 billion road and rail project to link Asia and Europe, Iraq's government spokesman Basim Al Awadi said before the Emir's visit.

Qatar has said previously that, like other Gulf states, it would support regional economies through commercial investments rather by providing direct financial aid.