Talabani calls for foreign investments

ERBIL, Iraq, March 14 (UPI) -- Iraqi President Jalal Talabani addressed a delegation of Arab leaders on the final day of a summit in Erbil, calling for increased foreign investment.

Talabani addressed a delegation from the United Arab Emirates, saying the natural resources available in Iraq made the country ripe for large-scale investments, Emirates Business 24/7 reported Friday.

He noted the Iraqi government was developing an attractive investment environment in Iraq and pointed to the rise in per capita income and the improved living conditions in the country as a sign of an improving economic climate.

He also noted the recent moves to end state-owned monopolies in the industrial and manufacturing sectors created a more competitive economic environment in Iraq.

The delegate for the United Arab Emirates, Abdul Aziz Abullah al-Ghurair, said he would examine the business climate in Iraq and relay his findings to businessmen and investors.

Al-Ghurair said he hoped his visit would open avenues of cooperation across various economic sectors and asked Talabani to consider offering foreign investors preferential treatment and other incentives as a way to secure interest in Iraq.