Russia, Iraq Confirmed to Clinch a 10-year Economic Deal

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Last updated at: (Beijing Time) Tuesday, August 20, 2002

Russia, Iraq Confirmed to Clinch a 10-year Economic Deal

Russia confirmed on Monday that it was close to signing a 10-year economic agreement with Iraq, but said the framework deal would not include exact figures.

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Russia confirmed on Monday that it was close to signing a 10-year economic agreement with Iraq, but said the framework deal would not include exact figures.

Moscow and Baghdad are finishing the definitive draft of a 10-year program for cooperation in trade and industry, as well as in science and technology, Boris Malakhov, spokesman for Russia's Foreign Ministry, told local media.

The key provisions of the program had been agreed upon by both sides, he said.

The spokesman denied earlier media reports that the program is worth 40 to 60 million US dollars. "No figures are indicated in the draft agreement. It is a framework one in content."

Iraqi Ambassador to Russia Abbas Khalaf said last weekend the two countries were close to signing a 40 billion-dollar economic agreement in the first two weeks of September. But Russia has given no official confirmation until now.

Malakhov stressed that nothing in the program contradicted the United Nations sanctions against Baghdad.

"Russia, as a permanent member of the UN Security Council, strictly complies with the international commitments it has made. This naturally applies to Iraq in every sense," he said.

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