Tag Archives | Industry & Trade

The latest trade & industry news from Iraq – oppportunities,developments and more – brought to you by Iraq Business News

Iraq Pumps Billions into Industrial Sector

Iraq has put US$2bn into renewing its industry over the past three years, according to Reuters. In an effort to wean itself from its reliance on oil revenues, the country is giving a boost to some of its 260 factories. “Most of our factories were losers,” said Adel Karim, a deputy minister of industry and minerals. “Now […]

Syria Next to Sign Iraqi Trade Deal

Everywhere from Northern Ireland to China have sought bilateral agreements to benefit from the rapid growth of Iraq. Now it is Syria’s turn. Mohammed Nidhal, Syria’s minister of trade, headed to Iraq with a delegation of more than 100 Syrian businessmen. The two countries pledged to increase trade between them. Khayrullah Babakir, Iraqi minister of trade, said “The […]

Crisis Talks To Avert War with Kuwait

Iraqi prime minister Nouri al-Maliki and his Kuwaiti counterpart, Naser al-Subah, have been talking directly by telephone to try to prevent a diplomatic crisis from worsening. A spokesperson for Maliki said on Monday that Kuwait had shown “more flexibility” in ongoing discussions over a new Kuwaiti port. Mubarak Port, due to be completed in 2016, […]

Czech Republic Takes Iraq Potential Seriously

Czech prime minister Petr Nečas brought a large delegation of businessmen, as well as the minister of defense and the minister of trade and industry, with him to Iraq this week, according to Aswat Al-Iraq. Revealing his commitment and belief in the economic benefits of a good relationship with Iraq, the Czech premier announced that his country […]

UK Firms Invited To Explore Opportunities In Kurdistan

The Middle East Association has this message for UK businesses looking for growth opportunities: Dear Members and Friends, The MEA, in partnership with UK Trade & Investment, Invest Northern Ireland and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan from 23rd to 28th October to coincide with the seventh Erbil […]

Dozens Of Countries Flock To Iraq

Just this week, we have seen a United Arab Emirates firm invest in a new Iraqi oil refinery, a German company discussing investing in Basram, and a Korean company building 25 power stations. On top of that, there have been Iranian gas deals amd Saudi Arabian interest in Iraqi telecoms, plus both British and Turkish […]

Iraq To Stop Being World’s Garbage Dump

The three-day Conference on the Economic Future of Iraq began on Tuesday with representation from the World Bank and the Iraqi parliament. Parliament Speaker Usama al-Nujaifi said that “Iraq has turned into the world’s garbage dump through bad commodities that were imported, a matter would have not existed were it not for legislative shortcomings.” Yet […]

Kurdistan Will Expand Faster Than Dubai

US companies are put off from investing in Kurdistan by security fears, even though the Iraqi region is relatively safe and stable. Iranian businesses are more aware of the lower risks in this part of the country and are desperate to invest and take advantage of its heavy investment and rapid growth, despite tax and […]