Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Prime Minister Mohammed Shia' Al Sudani chaired the regular meeting of the Higher Committee for Investment and Reconstruction, focusing on improving investment mechanisms across various economic and developmental sectors. The committee approved the creation of "New Wasit City," a residential project in Wasit province, as part of the government's vision to develop […]
By John Lee. Brazilian exports of chicken meat to Iraq have more than doubled. Considering all products, including fresh and processed, Brazil shipped a total of 15.3 thousand tons to Iraq in July. According to the Brazilian Animal Protein Association (ABPA), this represents an increase of 118.6 percent on the same month last year. (Source: […]
By Umud Shokri for The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Powering up: Turkey-Iraq transmission line is part of a broader strategic shift On July 21, 2024, Baghdad inaugurated a new power line connecting Turkey and Iraq to […]
By John Lee. Prime Minister Mohammed Shia' Al Sudani inaugurated the Debes [Dibs] Gas Power Plant in Kirkuk via video link, marking the completion of a 320 MW facility that had been stalled since 2004. Restarted in late 2022, the project overcame significant legal, administrative, and logistical challenges, according to a statement from the Prime […]
By John Lee. Iraq has re-started the purchasing of rice from the United States, according to a press release issued by the USA Rice Federation. It adds that ADM Rice sold a vessel of American rice, which will be loaded and sail to Iraq early this autumn. The resumption follows what USA Rice describes as, […]
By John Lee. Russian and Iraqi officials have held a meeting to finalize agreements aimed at enhancing transport cooperation between the two nations. The Russian side expressed gratitude for the approval of the draft agreement by the Iraqi Prime Minister's Office, indicating Russia's readiness to review and proceed with the signing. They emphasized Iraq's strategic […]
By John Lee. The UK's Department for Business and Trade has said that total trade in goods and services (exports plus imports) between the UK and Iraq was £1.1 billion in the four quarters to the end of Q1 2024, an increase of 14.2% or £140 million in current prices from the four quarters to […]
By John Lee. The Iraqi Cabinet has approved "final protective measures" for domestically produced urea fertilizer. According to a Ministry of Industry and Minerals document dated August 4, 2024, the import price for Di-ammonium Phosphate (DAP) fertilizer will be set at 800,000 dinars ($610) per ton and for urea fertilizer at 550,000 dinars per ton. […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, chaired a supervisory committee meeting on the restructuring of the state-owned Rafidain Bank. Attendees included committee members from the Ministry of Finance, advisors to the Prime Minister, senior Central Bank officials, and representatives from Ernst & Young. The meeting reviewed […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Erbil to shut down over 100 illegal refineries: Governor More than 100 illegal refineries in Erbil province were ordered to shut down on Sunday by the governor; additionally, a deadline was set for legal […]
By John Lee. The International Labour Organization (ILO), Iraq's Ministry of Planning (MOP), and the Italian Agency for Development Cooperation (AICS) have held a two-day conference to discuss the national Micro, Small, and Medium Enterprises (MSMEs) development Policy for Iraq by bringing together government entities, international organizations, employer and worker groups, and financial institutions to […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has launched the country's National Development Plan (NDP) 2024-2028. In what the United Nations Development Programme (UNDP) describes as "a significant step toward advancing Iraq's development agenda," the plan was a collaboration between the UNDP and Iraq's Ministry of Planning with the support of the United […]
