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Iraqi Ambassador in Belgrade has called on Serbian companies to take part in the Iraq renewal.
Abdul Sada, Iraqi Ambassador to Serbia, told Nebojsa Stefanovic, Serbian Parliamentary Speaker, on Friday that Serbian companies have a certain advantage over other companies when it comes to the reconstruction of Iraq.
According to Sada, this comes as Serbs know local culture, traditions and lifestyle in Iraq and have an experience that goes back several decades.
He added that both countries would derive benefits from the renewal of economic cooperation.
The parliamentary speaker's cabinet stated that Stefanovic backed reinforcement of economic cooperation between the two countries, and suggested that parliamentary cooperation should encourage the development of economic relations.
Stefanovic noted that the Serbian government was interested in renewing economic cooperation with Iraq, and expressed satisfaction that the initiative was launched in the first few days of the new composition of the parliament and government.
Serbia got the new government last month following the May 6 general elections.
Since 1958, the two countries have shared good relations in various sectors including Serbia's export of arms to Iraq.
Over 100 Serbian companies with a large number of employees worked in Iraq at the peak of economic cooperation.
To keep its reform policy credible for investors, the government must find common ground with the IMF and look for a new arrangement, experts say.