Qatar-Iraq Establish Joint Investment Company

Qatar and Iraq will establish a joint investment company with initial paid-in capital of $20 million. The new company will be 51% owned by Qatari government and local businessmen and 49% owned by Iraq. The aim of the new investment company will be to facilitate the participation of Qatari and Iraqi businessmen in projects for reconstruction of Iraq.

According to reports, negotiations are currently under way with several national banks from the region for the financing of the project.

One of the first projects that the new company plans to implement is to set up a navigation line between Qatar and Iraq. The line will greatly facilitate Qatari exports to Iraq as Kuwait has refused to grant visas to Qatari truck drivers in the past and they have been forced to travel through Jordan and Turkey to reach their final destination.