Archive | Iraq Industry & Trade News

Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.

Paris Urges Firms to Set Up Shop in Iraq

Following last week’s positive statements from France’s Ambassador to Iraq, France’s Industry Minister Christian Estrosi urged French companies to open offices in Iraq and claim a share of the lucrative investment opportunities in the country. He added that the French government will open a major agricultural centre in Kurdistan to train workers in the agricultural […]

Successful Iranian Mission to Basra

Following the recent visit by a delegation of  Iranian businessmen and officials to Basra, an Iranian company has started negotiations with the investment commission in Basra over the construction of an iron foundry. The plant is planned cost to cost $10m and will cover 25,000 square meters. (Source: Aswat Al Iraq)

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Ministry Should Pay Merchants

Iraqi Trade Ministry is in debt to merchants who supplied the Ministry with food items related to the ration card system. “This issue would negatively affect the ration card system,” Falah Kamona, head of the Iraqi Chamber of Commerce, told Aswat al-Iraq news agency on Friday. He said that the Ministry has been in debt […]

Iraq to Import 3 Million Tons of Wheat

Iraq’s Cereals Council said today that Iraq is expected to buy 3 million tons of wheat this year, the same quantity it exported last year. Iraq will also import about a bit more that 1 million ton of rice this year, i.e. a small increase comparing with 2009 exports. Iraq is diversifying its wheat provider […]

KBR Posts 4th-quarter Decline As Work Winds Down

Engineering and construction company KBR Inc. said Thursday that its fourth-quarter earnings fell 17 percent as U.S. military work in Iraq declined and some contract fees were reversed, and it trimmed the low end of its full-year outlook. Profit for the fourth quarter slid to $73 million or 45 cents a share, from $88 million, […]

Confectionery Group Sets Dh100m Sales Target

HMBS Group, one of the largest business conglomerates in Iraq, plans to increase sales of its confectionery products by expanding its distribution network to 32 countries this year, a top company executive said. The group has invested Dh220 million to set up a modern confectionery plant in Jebel Ali as a part of a Dh370-million […]

Iranian Trade Fair Kicks off

The exclusive fair of Iranian companies and traders was officially opened on Saturday in Basra Over 60 active companies and 200 traders have participated in the event, the Islamic Republic of Iran Broadcasting reported. On the sidelines of the exhibition the Iranian consul in Basra Mohammad-Reza Bagheban said that, “Iran hopes to double its trade […]

Karbala to host Iraq/Indian trade conference

An Indian commercial delegation wrapped up a visit to Karbala on Tuesday, where it agreed to hold a commercial conference in the city in mid April with the participation of Iraqi and Indian businessmen, the advisor to the Karbala Chamber of Commerce said. “The Indian delegation during its week long visit learned about the security, […]

Ministry seeks greater trade role for Iraq

The Iraqi Trade Ministry wants to improve Iraq’s international role that has been minimized due to wars and embargo. “The undisciplined policies of Saddam Hussein’s regime negatively affected Iraq’s international role,” the Ministry said in a release on Tuesday received by Aswat al-Iraq news agency. It said that a political and economic plan should be […]

Geological Survey Investment Conference in Basra

Basra Investment Commission held a conference on Tuesday to highlight services that can provided by the Iraqi Geological Survey Company to other firms investing in Basra. “The Iraqi firm has a long experience in this field,” Jalalal-Din al-Nuri, the commission’s deputy head, told Aswat al-Iraq news agency. He said that geological surveys are essential to […]

Water Company Pays off Iraq Bribe Penalty

Water and gas supply and treatment company AVK Holding has paid a total of 1.2 million Danish crowns to the Public Prosecutor for Serious Economic Crime (SOK) for violations relating to the UN Oil-for-Food Program scandal, Copenhagen Post reported on 15 February. AVK reached a settlement with SOK over the violations, which included accusations of […]