Thai-Iraqi trade commission meets for first time in 12 years

A meeting of the Joint Thai-Iraqi Trade Commission was held for the first time in 12 years, as Baghdad pledged to make a full payment to Thai rice exporters after the U.N. economic sanctions against the country was lifted, Deputy Commerce Minister Gornpot Asavinvichit said in Bangkok on Tuesday.

Gornpot told the Thai news agency, TNA, that the meeting was held between February 22 and 23, the first time after the Gulf War in 1990.

At the meeting, Baghdad agreed to make a full payment of $123 million it had owed Thai rice exporters over the past 12 years when the U.N. economic sanctions against it was lifted, he said.

The money comes from the selling of 195,750 tons of Thai rice to Iraq since 1989, accounting for $73.88 million, while the rest will be accumulated interests, he disclosed.

Baghdad also expressed its interest in purchasing more Thai products, including sugar, tea, salt, cooking oil, processed food, medical supplies, automobiles and parts, batteries, and machines, and asked for Thailand's assistance in helping train Iraqi personnel in the medicare, agricultural and irrigation sectors, he stated.

Thailand, in turn, proposed that Baghdad increase the proportion of the U.N. oil-for-food program for Bangkok from currently four million barrels per six months, meaning that Iraq would ship more oil to Thailand in exchange for more exports of Thai rice, said the deputy commerce minister.