Russian companies to participate in Iraq's postwar recovery

Russian companies have a chance to take part in Iraq's economic recovery, Iraqi Finance Minister Kamil al-Kilani told RIA Novosti.

He participated in the international conference on Iraq's economic development in Beirut.

"Iraq is interested in different proposals. Therefore, all companies, Arab, European and Russian, have a chance to be involved in Iraq's economic recovery," Kamil al-Kilani said.

According to him, American projects are the only exception. All investors, including Russia, have equal chances in all other projects, Kamil al-Kilani added.

The Law on Investments adopted in Iraq allows foreign companies to invest in different industries of Iraq, including the oil sphere.

"We are considering the proposals of the Russian companies willing to take part in the development of Iraq's economy. Long-term relations between Russia and Iraq gives them [Russian companies] hope for their participation," the Iraqi Finance Minister said.