Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Japan's Nissan Motor Corporation has appointed Al Sour as its official and registered distributor in Federal Iraq. According to a statement from Nissan, this strategic collaboration will commence with the establishment of several sales, service, and spare parts facilities across key cities, including Baghdad, Najaf, Mosul, and Zakho, as well as other […]
By John Lee. A drone attack on Friday evening has killed four workers at Khor Mor gas field in Sulaymaniyah province. Press reports say the dead were Yemeni nationals. Electricity supplies have also been disrupted. A KRG statement said that initial information suggested the attacks come from "a nearby region within Iraq"; KRG Prime Minister […]
By John Lee. Fitch Ratings has affirmed Trade Bank of Iraq's (TBI) Long-Term Issuer Default Rating (IDR) at 'CCC+', Short-Term IDR at 'C' and Government Support Rating (GSR) at 'ccc+'. Fitch has removed the Stable Outlook on TBI's Long-Term IDR, which was previously published in error. It says the rating reflects, "the absence of any […]
By John Lee. The Arab-British Chamber of Commerce (ABCC) has signed a Memorandum of Understanding with Baghdad Chamber of Commerce with the aim of developing a strong partnership to better serve their respective members. In a statement, they said this new initiative will enable them to be more responsive to meeting the needs of their […]
By John Lee. The Iraqi Ministry of Planning held a meeting with the German government to discuss development cooperation across various fields. The meeting, led by Dr. Saher Abdul Kadhim Mahdi, Director General of the International Cooperation Department, included the German Embassy's economic advisor and his delegation. The discussion covered development activities funded by Germany […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani and Turkish President Recep Tayyip Erdogan signed a strategic framework agreement on Monday in Baghdad, establishing a roadmap toward a comprehensive economic partnership between the two countries. The ceremony also saw the signing of several memoranda of understanding (MoUs) and agreements in various fields and sectors […]
By John Lee. The Iraqi Ministry of Planning has held a meeting to prepare the five-year National Development Plan (NDP) for 2024-2028. Led by Dr. Maher Hamad Johan, the ministry's Undersecretary for Technical Affairs, the meeting discussed upcoming steps for the plan, including design, printing, review, and formulation processes, as well as media campaigns for […]
From the Iraq Britain Business Council (IBBC): IBBC's 15th Anniversary Conference: Iraq's 'Opportunities and Insights' This is a big year for Iraq and IBBC as we celebrate our 15th anniversary and Iraq moves into a new prosperous and stable phase. As advocates for the private sector in Iraq, IBBC champions best practice, through our special […]
By John Lee. Iraqi Finance Minister Taif Sami met with World Bank Executive Director for Iraq, Abdulaziz Al Mulla, to discuss the World Bank's support for Iraq, including financial aid, technical support, and capacity building. Al Mulla emphasized the bank's commitment to supporting member countries and that Iraq would benefit from the World Bank's programs […]
By John Lee. Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan presided over the signing of a quadrilateral memorandum of understanding (MoU) between Iraq, Turkey, Qatar, and the UAE in Baghdad on Monday. The MoU focuses on mutual cooperation for the strategic "Development Road Project" and was signed in the presence […]
By John Lee. Iraqi Finance Minister Taif Sami, along with her accompanying delegation, participated in the annual Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), held from April 15 to 20, 2024, in Washington, D.C. The meetings addressed global economic challenges, economic development, financial stability, and related issues through general […]
By John Lee. Prime Minister Mohammed Shia' al-Sudani told a meeting of Iraqi expatriates in Houston, Texas, that the investment opportunities in Iraq are valued at around $400 billion. "Iraq is a country full of opportunities," he said, emphasising that Iraq is now focused on reconstruction and development. "Ongoing efforts may not always be fully […]
