Iraq's Foreign Minister Fuad Hussein, right, welcomes French counterpart Jean-Noel Barrot in Baghdad. AFP
Iraq's Foreign Minister Fuad Hussein, right, welcomes French counterpart Jean-Noel Barrot in Baghdad. AFP
Iraq's Foreign Minister Fuad Hussein, right, welcomes French counterpart Jean-Noel Barrot in Baghdad. AFP
Iraq's Foreign Minister Fuad Hussein, right, welcomes French counterpart Jean-Noel Barrot in Baghdad. AFP

French Foreign Minister urges Iraq to avoid Middle East conflicts


Sinan Mahmoud
  • English
  • Arabic

Iraq should not be dragged into regional conflicts as it emerges from decades of instability, France's Foreign Minister Jean-Noel Barrot said on Wednesday, during his visit to the capital Baghdad.

Mr Barrot began his tour of the Middle East with Iraq, where he is looking to strengthen bilateral ties and lay the groundwork for two key conferences on regional peace. During the two-day trip, Mr Barrot will hold meetings with senior officials in Baghdad including Prime Minister Mohammed Shia Al Sudani, as well as members of the semi-autonomous Kurdistan regional government.

"France wants to stand firmly with Iraq during this sensitive period," Mr Barrot said in a joint press conference with Iraqi Foreign Minister Fuad Hussein. "There is a principle of supporting Iraq in its political choices to build its future."

After decades of conflict and political turmoil, Iraq is showing signs of improved security and growing political stability. Violence has declined significantly compared to nearly a decade ago, allowing for reconstruction efforts and a gradual return to normal life in many areas.

However, the country is treading a fine line in balancing relations with the US and Iran, which are both allies. During the war on Gaza, Baghdad has been aiming not to be drawn into the fighting after pro-Tehran factions launched numerous attacks on US troops based in Iraq, as well as mostly failed strikes aimed at Israel. There have been no attacks for months now.

"It is essential for Iraq not to be drawn into conflicts it did not choose," Mr Barrot said, praising the government's efforts to "preserve the stability" of the country.

"We are convinced that a strong and independent Iraq is a source of stability for the entire region, which is threatened today by the conflict that started on October 7 [2023] and Iran's destabilising activities," he added.

Mr Hussein described Iraq's relations with France as "broad and historical", saying the two ministers discussed ways to boost them in all fields.

Iraq and France have been strengthening bilateral relations in sectors including energy and security. France has stationed troops in Iraq as part of the US-led international coalition to fight ISIS, which was defeated in Iraq in 2017, although some of its cells remain active.

Before his arrival, the French Foreign Ministry said Mr Barrot's visit will “affirm France's commitment to the stability of Iraq”, adding that he will discuss preparations for the third Baghdad Conference aimed at promoting regional stability and co-operation.

The conference, which is attended by nations from across the Middle East and Europe, has been organised by Paris and Baghdad since 2021.

Discussions will also cover France's “commitment to continuing the fight against [ISIS], in the context of the transition in neighbouring Syria and the repositioning of the American presence”, the ministry added.

The US said on Friday that it would reduce its troop presence in Syria by about half, cutting the number of soldiers to fewer than 1,000 in the coming months. Washington also agreed with Baghdad last December to withdraw US troops from some parts of Iraq following their presence there for a decade to help fight ISIS.

After Iraq, Mr Barrot will head to Kuwait and Saudi Arabia over three days.

Mr Barrot is in Baghdad as part of a two-day visit to Iraq. Reuters
Mr Barrot is in Baghdad as part of a two-day visit to Iraq. Reuters

The French ministry said Mr Barrot will also discuss preparations for another international conference, to be held in New York in June, on the implementation of a two-state solution to the Israeli-Palestinian conflict. France is co-organising the event with Saudi Arabia.

President Emmanuel Macron this month announced France's intention to recognise a Palestinian state as part of a broader diplomatic drive aimed at securing regional peace and setting up Arab diplomatic relations with Israel.

“What we want to trigger is a series of other recognitions” of a Palestinian state, “but also the recognition of Israel by states that today do not do so", Mr Macron said last week.

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.”

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

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THE SPECS

Engine: 2.0-litre 4-cylinder turbo

Power: 275hp at 6,600rpm

Torque: 353Nm from 1,450-4,700rpm

Transmission: 8-speed dual-clutch auto

Top speed: 250kph

Fuel consumption: 6.8L/100km

On sale: Now

Price: Dh146,999

Kandahar%20
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Company%20profile
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The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

Who's who in Yemen conflict

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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Day 1 results:

Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)

Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)

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SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP%204
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The specs

Engine: 3.5-litre twin-turbo V6

Power: 380hp at 5,800rpm

Torque: 530Nm at 1,300-4,500rpm

Transmission: Eight-speed auto

Price: From Dh299,000 ($81,415)

On sale: Now

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Updated: April 23, 2025, 12:22 PM