As part of a renewed effort to strengthen economic and investment relations between the two countries, the UAE proposed a $3 billion (Dh11 billion) investment in Iraq.

The new investments are intended to create new opportunities for cooperation between the two nations, as well as to promote social and demographic change in favor of Iraqi residents.

In this regard, the UAE and the Republic of Iraq released the following joint statement at the end of Dr. Mustafa Al Kadhimi's official visit to the UAE.

The statement reads, "In keeping with the UAE's fraternal relations and close historical links with Iraq, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, met with Dr. Mustafa Al Kadhimi, Deputy Prime Minister of Iraq."

The Iraqi prime minister thanked the UAE, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, for its assistance to Iraq and its citizens.

The tour involved a series of official meetings aimed at broadening the possibilities of interaction between the two countries on all fronts for their mutual interests, with both sides praising the extent and strength of their relations. They summarized the most recent regional and international events, emphasizing the urgency of maintaining international cooperation in the face of the COVID-19 pandemic and containing its economic and medical consequences for the whole world.

The two sides decided to expand mutual relations and speed up trade and investment exchanges, and they encouraged their businessmen to meet each other. They have decided to form the Iraqi-UAE Business Council and to streamline all policies that benefit the two countries and their citizens.

In this sense, the UAE declares a $3 billion investment in Iraq. The initiative aims to strengthen economic and investment relations, open up new avenues for collaboration, and promote Iraq's development and socioeconomic progress. Iraq applauds the UAE's plan to renovate the Al Hadba Minaret, Al Nuri Great Mosque, and other churches.

The two sides have emphasized the importance of bolstering security and defense coordination, as well as intelligence sharing, in the war against terrorism. They also agreed to accelerate energy cooperation, especially in the field of renewable energy.

The Iraqi prime minister thanked the UAE, its leadership, administration, and people for the warm welcome and hospitality he received during his visit.