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Iraq and Kuwait inaugurate a new era

Jun 12, 2013

Here is an article from Iraq's Twilight News (via google translator) June 12 highlighting today's meeting between the leaders of Kuwait and Iraq. They signed six important agreements and announced that Kuwait has written a letter to the UN Security Council asking them to allow Iraq to exist chapter VII sanctions (from 1990).

The provisions of Chapter VII, passed in August of 1990, imposed trade sanctions that crashed the value of the Iraqi currency (dinar), because it removed the dinar from the world markets as an internationally traded currency. Conversely, the removal of Chapter VII means that the dinar will return to international trade and presumably return somewhere near its former value.

He says Iraqi Prime Minister Nuri al-Maliki said in a statement reported for "Twilight News" that the two sides of Iraq and Kuwait will not يكتفيا override the crisis, but seeking to open a "new era" in cooperation and to develop political and economic relations in the areas of investment, energy, transport and the environment.

Maliki was speaking at a meeting held at the prime minister today in Baghdad during the Iraqi-Kuwaiti talks and headed the Kuwaiti side counterpart Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah.

The two sides in which to move the relationship between Iraq and Kuwait to a new stage.

Maliki said during a speech in which he began meeting Almstrki the start of a new phase in relations between the "two brotherly neighbors," calling on businessmen and the Kuwaiti private sector to take advantage of the many investment opportunities available in Iraq.

He also called for holding a joint conference of businessmen from both countries to discuss opportunities for cooperation in this area.

He says the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah "We have been able to open a new stage in relations, Iraq - Kuwait passed through processing heavy legacy turn the page on the past to a wider relations in all fields."

And Foreign Minister Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah during the meeting that the State of Kuwait sent a letter to all members of the UN Security Council and tot he United nations for reporting on Iraq meet its obligations although Endowment of them can be treated in Section VI.

According to the Iraqi government on the tongue and Foreign Minister Hoshyar Zebari said that the UN Security Council will meet later this month and issue a decision as Iraq moves from the provisions of Chapter VII to Chapter VI.

Zebari said at a joint news conference with his Kuwaiti counterpart in Baghdad attended by "Twilight News" that Iraq has all international Altazamth towards Kuwait in preparation for the exit from the provisions of Chapter VII.

The Kuwaiti Prime Minister Jaber Mubarak Al-Hamad Al-Sabah to Baghdad on Wednesday on an official visit for one day, accompanied by a number of ministers and Kuwaiti officials.

Zebari stressed that the Kuwaiti delegation's visit resulted in the signing of six agreements between Iraq and Kuwait on aspects of cultural, environmental, economic and international transport services.

For his part, Foreign Minister Sabah al-Sabah said his country would be happy to exit Iraq from the provisions of Chapter VII, stressing that the coming period will witness significant progress on the level of bilateral relations with Iraq in various fields.



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Category: Iraqi Dinar

Dr. Stephen Jones

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