Iraq and US sign commercial agreement

July 17, 2006 12:25


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Iraq and the United States signed a commercial cooperation agreement Monday that officials hope will help Iraq move into a free market after decades of wars, sanctions and state control. US Commerce Secretary Carlos Gutierrez and Iraqi Trade Minister Abed Falah al-Sudani attended the ceremony and told reporters that the Iraqi leadership will not tolerate widespread corruption. "Concerning the agreement that we signed today, it is the result of long discussions and follows mutual agreements between Iraq and the United States," al-Sudani told reporters. He said that the principles of this agreement are based on improving the Iraqi economy after it was destroyed by wars. "This agreement will be one of the important agreements that encourage the Iraqi economy to move from centralized economy to free economy," the Iraqi official said.

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