Turkey's Trade Ministry has declared that the trade volume between Turkey and Iraq has exceeded $6 billion this year, up from only $940 million in 2003. In a press release by Turkish Ministry of Trade, commercial ties between Turkey and Iraq have developed dramatically in the recent years. The indicators show that bilateral the trade […]
According to report from Reuters, oil exports from Iraq's southern oil hub of Basra partly recovered on Monday to 1.08 million barrels per day, having been disrupted by a sandstorm over the previous two days. Basra's shipments were: Friday - 1.68 million barrels Saturday - 1.128 million barrels Sunday - 720,000 barrels Monday - 1.08 […]
A number of companies participating in a Basra international fair revealed on Saturday their intention to seek investment opportunities in the province, the 'economic capital of Iraq', according to a source cited by AK News. The 5-day Basra International Fair opened on Friday, with the participation of more than 150 local and foreign companies specialising […]
Basra's governor has announced projects totalling more than 50 billion Iraqi dinars ($42m), according to a report from AK News. "Many projects will be implemented and financed from Basra's budget at a cost of more than 50 billion Iraqi dinars. The first project is to establish an industrial city for 40 billion dinars that includes […]
According to a report from AK News, an Iraqi economic expert has called on the Iraqi government to learn from Kurdistan's experience in addressing the housing crisis, and to apply those lessons in other Iraqi provinces. “Kurdistan's experience is very important, being able to limit the continuing housing crisis in the region," said Sattar Al-Shahin, […]
German company IQ Martrade has submitted several proposals for developments at Basra Port. The manager of the Company, Mr. Gunther Hahn, said "the projects include investment in jetties at Umm Qasr Port, and the establishment of an oil pipes factory near the port - there is a huge need for such pipes in Iraq and […]
The state-run Iraqi Shopping Centers Firm achieved revenues of 9.676 billion Iraqi dinars [$8m] during the past five months, according to a press release received on Sunday by Aswat al-Iraq news agency.
A major campaign kicked off in Basra on Sunday to clamp down on the theft of electricity from the grid. Basra police chief Maj. Gen. Adel Dahham, speaking in a statement to "Eye Media" on the role of security services, said "military and police forces worked with the electricity departments in a campaign to stop […]
A large Turkish business delegation will head to northern Iraq Tuesday to boost trade links, despite a political chill over Turkish Kurd rebels taking refuge in the area, a newspaper report said. State minister for foreign trade Zafer Caglayan, who will lead the 200 businessmen, voiced the hope that increased economic exchanges between Turkey and […]
Syrian Prime Minister Mohammad Naji Otri and Iraqi Finance Minster Baqir Jabr al-Zubaidi met on Sunday to discuss cooperation and relations between the two countries. Later, Syria's Minister of Finance Mohammed al-Hussein discussed with al-Zubaidi the positive impact of Syrian-Iraqi financial cooperation on economic relations which serve the interest of both countries. Minister al-Hussein stressed […]
Dhiya Jaafar, chief executive of Iraq's state-run South Oil Co (SOC), has said the country seeks to open a special border crossing with neighbouring Kuwait for international oil firms working in the country, Reuters has reported. The new border crossing would facilitate the inflow of equipment for the oil companies that secured contracts to develop […]
Business Monitor International (BMI) forecasts that Iraq will account for 9.00% of Middle East (ME) regional oil demand by 2014, while providing 11.08% of supply. Regional oil use of 7.47mn barrels per day (b/d) in 2001 rose to an estimated 10.64mn b/d in 2009. It should average 10.98mn b/d in 2010 and then rise to […]
