In another development of economic and commercial cooperation between Korea and Iraq, President Yoon Suk-yeol of Korea met with Prime Minister Mohammed Shia Al-Sudani of Iraq at the United Nations General Assembly in New York late last year.
The leaders of the two countries discussed potential areas of cooperation and partnerships, and discussed the prospect of arranging official visits between the two countries.
Prime Minister Al-Sudani expressed his gratitude for Korea’s unwavering support towards Iraq, particularly during their fight against terrorism. He also emphasized the crucial role South Korean business companies are playing in Iraq executing some of Iraq’s most significant infrastructure projects.
Prime Minister Al-Sudani elaborated on the strategic “Development Road Project,” a corridor poised to connect the Gulf to Europe via Turkey.
This grand project offers significant investment opportunities, including the establishment of industrial cities along the corridor. South Korean companies were invited to participate and contribute to this ambitious endeavor.
In response to Prime Minister Al-Sudani’s proposals and appreciations, President Yoon Suk-Yeol reaffirmed Korea’s commitment to enhancing and bolstering their bilateral relations with Iraq.
Yoon also conveyed the interest of Korean companies in contributing to Iraq’s reconstruction efforts, providing a ray of hope for the country’s infrastructure development.
President Yoon announced that a South Korean economic delegation is set to visit Iraq. This delegation will explore further economic cooperation opportunities, further strengthening the relations between the two nations.
In a similar vein, the chairperson of Iraq’s National Investment Commission, Haider Mohammed Makiya, met with the Korean Minister of Land, Infrastructure & Transport Won Hee-Ryung.
This meeting focused on fostering economic relations with South Korea, which is currently executing major projects in several Iraqi governorates.
During a speech at the Global Infrastructure Cooperation Conference held in Seoul, Makiya stressed that Baghdad is keen to develop its economic and trade relations with South Korea. He highlighted ongoing efforts to boost development indicators in various investment projects involving housing, industry, services, agriculture, infrastructure, and energy across the country.
These meetings signal a strengthening of diplomatic and economic ties between Korea and Iraq. With Korea expressing interest in contributing to Iraq’s infrastructure projects and overall reconstruction efforts, the future looks very promising for both nations.