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Arab Neighbors
Iraq Could Become Game Changer In OPEC
In mid-December 2009 the Organization of Petroleum Exporting Countries (OPEC) held its annual meeting in Angola. Besides agreeing to keep oil prices at their current level of between $70-$80 a barrel, Iraq was the other hot topic of debate.
Foreign Investment Increasing In Iraq, Led By UAE
A recent report by the Dunia Frontier Consultants company found that foreign investment in Iraq is increasing over the last year, led by the United Arab Emirates (UAE). The report said that direct foreign investment had more than doubled in the first nine-months of 2009 compared to all of 2008. Total investment is now estimated at $156 billion, a 241% increase from 2008. There are now 53 companies operating in Iraq from 24 countries. The UAE has placed $37 billion in Iraq, 25% of all investment.
