British Academy: political stability in Iraq will make it a regional economic power

Tuesday 0.06 2 December / January 2015 00:26
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Twilight News / British academic said that the availability of political stability in Iraq and the presence of an integrated democratic system based on a unified community of all factions, sponsor and promote the development of the economic situation and make it a regional economic power.

He said a professor of international relations at the London School of Economics and Political Science, Dr. Toby Dodge, at a symposium hosted by the Kuwait Economic Society entitled (geopolitical risks in Iraq from a regional perspective) the importance of Iraq economically at the regional and global levels to a third having the largest reserves of traditional oil in the world.

He said the International Energy Agency believes that Iraq would be able to export eight million barrels of oil a day by 2035, adding that this increase in production need to international investments in the energy sector has about $ 530 billion.

Dodge stressed the need for the Iraqi government to provide internal stability, which will make it easier to bring the money and foreign investment capital and enable the development of the economic situation, noting many investors away from investing in Iraq "because of the domestic situation."

He explained that Iraq has a great potential and investment opportunities available, particularly in the areas of reconstruction of infrastructure and the development of the oil industry, pointing out that "these investment opportunities are incompatible with geopolitical factors of political instability."

He said the current Iraqi government in front of an enormous challenge is the creation of an inclusive political system "contributes to legitimize the state that you need to stay," he said, adding that "it is unlikely to realize the economic potential in Iraq as a result of the dominance of violence and political instability."

And Dr Toby Dodge, director of the Middle East Center at the London School of Economics and Political Science, a specialist in international relations, in addition to his management of Kuwait program at the same university since last October.

The program of Kuwait to the London School of Economics and Political Science, resulted from a partnership agreement between the Kuwait Foundation for Advancement of Science and the university in order to create a prestigious multi-disciplinary is mutually beneficial to both parties a global program addresses critical issues for the Kuwait Gulf and the region, such as development, governance and globalization issues

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