Wasit, May 11 (AKnews)
Australian Ambassador to Iraq Lindal Sax said her country has decided to begin investment in Iraq initially with $2.5b in agriculture sector.
Her statement was made today during a joint press conference with Wasit Governor Mahdi al-Zubaidi.
Australian government will begin investment in Iraq by soil reclamation projects in Wasit, Dhi Qar, and Diwaniya provinces, Sax said.
She added the initial calculations show that the projects require $2.5b and the lion's share in the project will go to Wasit province which owns vast agricultural lands.
The Tigris River which flows north through south of Wasit, has turned the province a fertile Iraqi provinces, distinguished for its high production level of wheat and barley.
Sax added the Australian government is willing to visit some Iraqi provinces, especially those with a solid ground for investment in various sectors in order to sign joint economic and trade protocols.
she said the "strong desire" of her country to invest in Iraq was in realization of the improved security situation and the appropriate investment environment in the country "which is joined to Australia with strong ties."
The ambassador thought the Iraqi Investment Law has provided a plenty of guarantees, especially for the foreign investors.
During her meeting with the Iraqi Planning Ministry Ali Yusuf on Jan.19, the Austrian Ambassador pointed to the capacities of her country in the agricultural sector and anticipated Austrian investment in the sector.
© AK News 2012
