Kuwait calls on Iraq to resolve economic crisis

As oil prices stay low due to the Covid-19 pandemic, Kuwaiti Foreign Minister Ahmed Nasser Al-Sabah has called on Iraq make moves at a regional and international level to solve its economic crisis, Anadolu reported on Sunday.

Al-Sabah reiterated the historical relations between the two countries and said that Kuwait is interested in developing its relations with Iraq. The war-torn country could benefit from international electricity connectivity and other such support, he added.

Iraqi Prime Minister Mustafa Al-Kadhimi met with the Kuwaiti minister, who handed over a message from Emir Sabah Al-Ahmad Al-Sabah. An official statement explained that the Kuwaiti Emir reiterated bilateral relations with Baghdad. “During the meeting, the two sides discussed the challenges of water security and the issue of terrorism, which was described as a common challenge for regional countries. The economic crisis and the decline of global oil prices were also on the agenda,” it added.

While Minister Al-Sabah stressed that a solution for Iraq’s economic crisis could be found through the Gulf Cooperation Council, Al-Kadhimi stressed the importance of retaining economic and security cooperation between Kuwait and Iraq. Mutually beneficial trade links should also be encouraged.

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Al Kadhimi also pointed out that his government would continue to cooperate on the issue of the Kuwaiti prisoners during the 1991 Gulf War and returning the remains of the Emir’s Archive to Kuwait. Prior to the meeting, a source told Anadolu that, “The Iraqi compensation file and the postponement of its payment will be at the heart of the talks.”

Last month, the Turkish news agency reported, Iraqi MP Hanin Qaddo said that Baghdad had asked Kuwait to agree to the postponement of a payment of $3.7 billion, the remaining compensation for the Gulf War. In 1991, the UN obliged Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organisations and others who incurred losses resulting from the Iraqi invasion of its neighbour. Iraq has paid $48.7 billion to date, the UN confirmed.