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Wednesday, 23rd November 2011
In Business In Japan,

Japan vows to aid Iraqi restructure

Japan has vowed to help Iraq with its restructuring programme following a meeting in Tokyo between the nations’ two leaders on Tuesday (November 22nd).

Japanese prime minister Yoshihiko Noda pledged an estimated 67 billion yen to help Iraq improve two oil refineries, as well as aiding other infrastructural projects.

The move is expected to improve relations between the two countries, with Noda congratulating Iraqi prime minister Nouri al-Maliki on his nation’s recent success in moving towards a more democratic climate.

Mr Noda said: “We are proud of having contributed to the development of Iraq. I am hoping to move our countries’ partnership to a new level.”

Mr al-Maliki is on a four-day tour of Japan and agreed with Mr Noda that the two should hold a joint economic panel next year to plan in detail how trade relations and industries will cooperate.

Major Iraqi cities set to benefit from the collaboration include the capital Baghdad, as well as Basra and Mosul.

Yesterday, it was revealed the Tokyo Stock Exchange would be acquiring the Osaka Securities Exchange to create the world’s third largest bourse.

Posted by Susan Ballion