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 has chaired a special meeting on carbon emissions, attended by ministers of oil, electricity, and environment, along with energy advisors and sector specialists. He directed the formation of a public company for carbon economies under the Ministry of Environment and instructed the regulation of energy contracts in […]
The Iraq Britain Business Council (IBBC) has announced more leading speakers for its Dubai conference on 7th and 8th December, including H.E. Mr Zyad Ali Fadhil, Minister of Electricity, Dr Samir Al Waely, CBI, Dr Abdulkareem, AL Faisal, Chairman of PM's advisory council, Ms Begard Talabani the Minister for water resources and agriculture, Dr Salar […]
By John Lee. As part of financial and economic reforms, the Iraqi Cabinet has endorsed recommendations to conduct all state contracts within Iraq in Iraqi dinars. There will be exceptions for ongoing external grants, loans, and agreements, and new contracts involving foreign grants, loans, and agreements may adhere to agreed-upon foreign currency terms, as specified […]
By John Lee. The Economic Relations Department of Iraq's Ministry of Trade participated in the first conference to formulate Iraq's five-year national development plan. The event, held in Baghdad and attended by the Prime Minister, focused on collaborative efforts for the nation's developmental future under the theme "Working Together to Shape Iraq's Development." Director General […]
By John Lee. Iraq and China have set the Iraq-China Business Council, with a view to increasing trade and investment between the two countries. With trade valued at around $53 billion in 2022, according to a statement from Iraq's Ministry of Trade, China is Iraq's largest trading partner. Full statement from the Ministry of Trade: […]
By John Lee. Iraq's Minister of Industry has chaired the inaugural meeting of the committee studying the establishment of an Iraqi-Saudi border economic zone. The meeting included representatives from the Ministries of Trade, Planning, and Oil, and addressed the committee's tasks and decisions related to setting up the economic zone. Parallels were drawn with the […]
By John Lee. The Iraqi Cabinet has endorsed the Energy Ministerial Council's recommendation (No. 23091 for 2023) concerning the Iraq-Saudi Electricity Link project. According to a statement from the Media Office of the Prime Minister, the key points include: Awarding the consultancy services for the Iraq-Saudi Electricity Link project to Terta Tech [Tetra Tech?] at […]
By John Lee. The Iraqi Ministry of Oil and its subsidiary, the Oil Products Distribution Company, have decided to implement electronic payment systems at all fuel stations starting January 1, 2024. The Ministry says it will also suspend cash handling from this date, adding that this move aligns with government guidelines to enhance efficiency, automate […]
By John Lee. On Sunday, November 19, 2023, the Kurdistan Regional Government's Prime Minister, Masrour Barzani, officially inaugurated the Distar Factory, a cutting-edge wheat flour mill, located in Domiz, Duhok Governorate. During his speech, Prime Minister Barzani emphasised the KRG's dedication to enhancing the agricultural sector and securing food security as top priorities. He outlined […]
From the International Labour Organization (ILO): ILO's groundbreaking afforestation project in Kurdistan Region of Iraq boosts sustainable development and decent work The initiative, funded by the Government of the Netherlands under the PROSPECTS Partnership, aims to address climate challenges and create over 700 short-term jobs for local Iraqis, internally displaced persons (IDPs), and Syrian refugees. […]
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 [$1.38 billion] in the four quarters to the end of Q2 2023, an increase of 54.2% or £391 million in current prices from the four […]
By Aziz Al Nassiri. This document explains the Iraqi University Ecosystem (IUE) project Introduction: The business environment in Iraq is one of the most challenging in the region. Instability, lawlessness, corruption, absence of development plans, flight of capital, brain drain, diminution of the middle class, rentier economy, rapid population growth, global warming, Fourth Industrial Revolution. […]
