By John Lee.
The German Embassy in Iraq has confirmed that trade between Germany and Iraq reached €1.7 billion in 2024, with a 10% growth in German exports over four years.
Roland Westebbe, Deputy Director of the German Embassy Mission in Iraq, stated that Germany aims to expand its trade relations with Iraq, viewing it as a promising market for investment.
He highlighted the active role of German companies in Iraq, particularly Siemens, which is contributing significantly to the energy and power sector, and Veridos, which operates in smart identity solutions.
Westebbe also noted Germany's involvement in Iraq's reconstruction, particularly in housing projects, and emphasized the role of German Foreign Ministry-affiliated organizations in supporting economic development initiatives.
[UPDATE, 25th March 2025: The German Liaison Office for Commerce & Industry in Iraq (AHK Iraq) has told Iraq Business News that trade between Germany and Iraq reached EUR 3.1 billion in 2024. Read more here.]
(Source: Iraqi News Agency (INA))
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