State Minister Muto Meets with Minister of Oil of the Republic of Iraq
February 24, 2016
On Wednesday, February 24, commencing at 2 p.m. for approximately 40 minutes, Mr. Yoji Muto, State Minister for Foreign Affairs of Japan, met with H.E. Dr. Adel Abdul-Mahdi, Minister of Oil of the Republic of Iraq, who was visiting Japan at the invitation of the Ministry of Foreign Affairs. The overview is as follows.
1. State Minister Muto explained that Japan put importance on strengthening ties with Iraq, which had one of the world’s largest oil reserves, and that stabilization and reconstruction of Iraq were important for Japan as well. Furthermore, State Minister Muto mentioned that Japan had supplied yen loans for Iraq’s oil-related projects and others since 2003 and that Japan hoped that through these projects in which Japan’s technologies were utilized would contribute to raising Iraq’s crude-oil output and export capabilities.
2. Minister Abdul-Mahdi expressed gratitude for Japan’s assistance to Iraq and highlighted the importance of Japan’s assistance in light of the decline in oil prices and difficult economic conditions in Iraq. Minister Abdul-Mahdi also expressed his hope for further advances by Japanese companies in Iraq and even stronger economic ties between the two countries.
3. State Minister Muto and Minister Abdul-Mahdi also exchanged views on the recent situation related to the fight against terrorism in Iraq, situation of the global oil market, and other issues. In particular, Minister Abdul-Mahdi explained Iraq’s support for the agreement by four countries, including Saudi Arabia, to freeze crude output and for cooperation among related countries to adjust the oil price to an appropriate level.