Iraq invites India to invest in infra sector rebuilding

Inviting Indian investments, Iraq today asked India Inc to take active participation in the rebuilding of the war-torn country.

Inviting Indian investments, Iraq on Tuesday asked India Inc to take active participation in the rebuilding of the war-torn country.

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"... will look forward to seeing you enter the world of business and investment in Iraq and be part of our rebuilding and construction campaigns," Iraqi Deputy Prime Minister Rowsch Shaways said at a CII function in New Delhi.

He said that Iraq needs investment in all sectors particularly housing. "We hope that through your visit we will strengthen economic and commercial ties in all sectors and will look forward to build up our contacts and cooperation with reputable and experienced Indian firms and businesses," Shaways said.

The bilateral trade has increased from $5.7 billion in 2006-07 to $9.7 billion in 2010-11.

The main export items from India to Iraq include metals, electronic goods, basmati rice, meat and machinery. The imports include crude oil, fruits and nuts, sulphur, wool and chemicals.