The Hindu Business Line : Iraq to import 1mt of wheat form India

REITERATING Iraq's commitment towards strengthening bilateral trade ties with India, Mr Yousif M. Abdul-Rahman Al-Ani, Officer In-charge, Ministry of Trade, Republic of Iraq, on Tuesday said his Government was planning to source one million tonnes of wheat from India over the next six months. He said this would also include the import order for 6,00,000 tonnes pending for the last two years.

According to him, wheat import from India had to be stopped on account of Karnal Bunt (viral disease which affects wheat) that had infested crops in India. Mr Al-Ani was addressing a conference on `Focus Iraq' organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here.

Mr Al-Ani also mentioned that his Government had amended the LoC (Letter of Credit) to obtain wheat from other sources and instead decided to buy it directly from Indian exporters. It may be noted that Iraq was earlier sourcing wheat, including that from India, through countries such as Russia, Syria and Egypt.

The Iraqi official outlined some of the thrust areas which hold potential for Indian companies in Iraq. These were agricultural products and equipments, heavy machineries, healthcare products and equipments including pharmaceuticals, oil fields and refineries equipment, electronic and communication equipment, computers and other high-technology goods and services.

On the current economic slowdown prevailing in Iraq, Mr Al-Ani observed that oil production is expected to touch 2 million barrels per day by the end of 2003. He mentioned that of this, 1.3 million barrels per day would be earmarked for exports. He expressed confidence that given Iraq's agricultural and industrial resources, 150 billion barrels of proven oil reserves in addition to its probable oil reserve as well as other mineral resources would change the canvas of the country's economy in the future.

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