Kazakhstan, Iraq to form intergovernmental commission
A Kazakh-Iraqi intergovernmental commission on trade and economic cooperation is planned to be established in 2014, Iraqi Ambassador to Kazakhstan and Tajikistan, Radzhih Sabir Abbud Al-Musaui told Trend.
"Iraq is interested in expanding cooperation with Kazakhstan. Over the past three years the Iraqi side put forward an initiative to create an intergovernmental commission on trade and economic cooperation," Al-Musaui said.
The country's oil minister has been determined as the co-chairman from the Iraqi side, the ambassador said. Kazakhstan put forward the candidacy of Kazakhstan's Oil and Gas Minister Uzakbai Karabalin to the post of co-chairman of the intergovernmental commission from that side.
Al-Musaui expressed the hope that the first meeting of the Kazakh-Iraqi intergovernmental commission will take place in 2014. However he found it difficult to specify the exact date of the meeting.
The Iraqi government is paying special attention to the development of relations with Kazakhstan, he said.
"Both of our countries hold important positions in their regions. Iraq in the Middle East, Kazakhstan in Central Asia. The economic opportunities of our countries are similar. Both of them are oil producers. They also have subsoil with large mineral reserves," the ambassador said.
The volume of trade turnover between the two countries is approximately $5 million, according to the diplomat.
"This is an insignificant indicator which would increase many times as a result of intensification of relations," Al-Musaui said.
The Iraqi side put forward a proposal to sign a comprehensive cooperation agreement which would cover not only the economy, but also culture and sport, according to the diplomat.
Currently, oil production in Iraq has reached 3.5 million barrels per day, according to the ambassador. It is planned to increase this figure to five million barrels per day in 2015 and to 12 million barrels per day in the next five years.