Having met USPP Vice-President Serhiy Prokhorov, Iraqi Deputy Minister for Foreign Affairs Hamid Al Bayati stated that economic cooperation with Ukraine may be very profitable in the oil field, the Industrials and Entrepreneurs Union of Ukraine (USPP) press service told.

Serhiy Prokhorov in turns mentioned that one of the USPP targets is promotion of mutually profitable ties between Ukraine and Iraq the sphere of commerce and economy. He on behalf of Ukraine highly appreciated Iraqi assistance in the aircraft construction, chemical and pharmaceutical spheres, and the oil and gas industrial complex. He also mentioned the interest of Ukrainian energy saving companies in Iraqi market.

Al Bayati stressed that Iraq needs the help of friendly countries such as Ukraine is. Only Iraqi oil income may finance the development and reconstruction of the country. But the damage caused by the war made Iraq spend $100 million monthly on the oil import form different regions and the countries. Iraq needs to build 10-15 oil refinery plants. For that purpose bilateral cooperation may provide a benefit for both Iraq and Ukraine, Al Bayati concluded.

Ukrainian Aviation Transport Company, AvtoKrAZ Kyiv representative office and Farmak Open Joint Stock Company confirmed their interest in the improvement of the cooperation.


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