Iraq and Pakistan sign agreement to boost co-operation

Jul 07, 2000 02:00 AM

Iraq and Pakistan have signed an agreement to boost co-operation in exploring, extracting and refining of crude oil.
Iraq said the agreement was signed following two days of talks in Baghdad between Iraqi Oil Minister Amer Mohammed Rashid and his Pakistani counterpart Usman Aminuddin.
Rashid said the deal was a sign that Iraq's relations with the outside world were prospering despite punitive UN trade sanctions imposed for Baghdad's 1990 invasion of Kuwait.

But the Pakistani minister affirmed that commercial links with Iraq won't go beyond the terms of the UN-approved oil deal which allows Iraq unlimited oil exports in exchange of food, medicine and spare parts to rehabilitate the country's infrastructure, including the oil industry.
Technical teams from the two countries will soon meet to discuss how to translate the terms of the deal into action. Pakistan is said to be negotiating terms to develop one of Iraq's rich oil fields in the south but the countries' officials declined to provide any details. Pakistan exports rice and other foodstuffs to Iraq under its UN-approved oil deal.

Source: AP via Newspage
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