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Politics : Stop the War!

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To: PartyTime who started this subject	3/23/2003 3:35:28 PM
From: Julius Wong	Read Replies (2) of 21614

French-Iraqi Trade Belies Commercial Interest Theory Paris, March 21 (Bloomberg) -- U.S. Secretary of State Colin Powell says France's business ties to Iraq help explain why it's opposed to using force to disarm President Saddam Hussein. ``There are commercial interests that everyone has to consider,'' Powell said March 18 in response to a question asking for his views on France's position. Richard Perle, chairman of the Defense Policy Board, which advises the U.S. government, says France is protecting oil investments in Iraq. Senator John McCain says ``calculated self interest'' is behind the positions of France and Germany, which pushed to continue with United Nations weapons inspections as the U.S. and U.K. moved toward military action. The facts are that French oil companies have no binding agreements to develop Iraqi oil fields. French exports to Iraq last year fell to 0.15 percent of total exports from 0.2 percent the year before. The Middle East last year accounted for 3 percent of both French and German exports. Only 0.5 percent of French direct investments are in Arab countries -- while 25 percent are in the U.S. quote.bloomberg.com

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