Iraq Strengthens Business Relationship with Greece

By John Lee.

Iraq's Minister of Trade, Mr. Atheer Daoud Al-Ghurairi, emphasized the government's dedication to advancing economic, trade, and investment relations with Greece during his meeting with Mr. Dimitris Skalkos, Secretary-General for International Economic Relations at the Greek Ministry of Foreign Affairs, and Greek Ambassador to Iraq, Mr. Georgios.

Key Highlights of the Meeting:

1. Strengthening Bilateral Ties
   Minister Al-Ghurairi underscored Iraq's commitment to bolstering ties with Greece by reviving the Joint Committee, which last convened 24 years ago. He expressed eagerness to expedite discussions to enhance trade volumes and deepen cooperation between the two countries.
2. Improving Iraq's Business Environment
   The minister detailed Iraq's strides in reforming its business climate, highlighting legislative reforms to attract foreign investment. Key developments include:
   • Finalizing laws related to intellectual property, commerce, and private-sector participation.
   • Promoting industrial localization with incentives for foreign investors.
3. Invitation for Collaboration
   Minister Al-Ghurairi extended an invitation to his Greek counterpart to visit Iraq early next year to discuss mutual interests and explore opportunities for expanded cooperation.

Greek Perspective:

Mr. Dimitris Skalkos reiterated Greece's keenness to strengthen ties with Iraq, describing it as a strategic partner in Asia. He identified several potential areas for collaboration, including:

• Establishing direct flight routes.
• Investments in transportation and development projects, particularly the "Development Road" initiative.
• Opportunities in construction materials, pharmaceuticals, food products, education, and other commercial sectors.

Memoranda of Understanding:

In a separate report from state-owned Iraqi News Agency (INA), the Federation of Iraqi Chambers of Commerce said that memoranda of understanding had been signed with 15 Greek companies in conjuction with a meeting of the Iraqi-Greek Business Forum.

(Sources: Iraqi Ministry of Trade; Greek Ministry of Foreign Affairs; INA)