Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
State Commission for Customs, in coordination with the National Investment Commission (NIC), has announced an investment opportunity to establish a customs check point in Al Safra Zone / Al Uthaim in Diyala Province, and provide all necessary requirements and services (logistic and security). Interested investors are entitled to present their wish to the customs commission […]
By John Lee. Associated Press reports that the Iraqi government has announced a two-day mandatory official holiday beginning on Wednesday due to the heatwave, with temperatures expected to exceed 50C (122F). The public holiday will apply to all government workers. Meanwhile, the Kurdistan Regional Government (KRG) has announced that Thursday, July 21st, is to be […]
Head of KRG Foreign Relations, Minister Falah Mustafa, on Friday received Austria’s Minister for Foreign Affairs, Sebastian Kurz in his second visit to Kurdistan to discuss strengthening of bilateral relations as well as recent developments. Both Ministers expressed delight at the level of bilateral cooperation between both governments and expressed their commitment to broaden their […]
By John Lee. The Iraq Mission Chief for the International Monetary Fund (IMF) has said that the staff-monitored program that started in November 2015 is designed with a focus on four key elements: reducing budget spending and restoring public finances to a healthy state and stabilize debt; protecting spending on the social front to ease […]
By John Lee. The Iraq Mission Chief for the International Monetary Fund (IMF) has said Iraq's oil sector grew by 13 percent in 2015 and by more than 20 percent during the first five months of 2016. This contrasts with the fortunes of the non-oil economy, which contracted by 19 percent in 2015 and is […]
Iraq's Ambassador to the United States, Lukman Faily, has announced his retirement from the Iraqi Foreign Service. In a statement on the embassy's website, Ambassador Faily said: For the last three years, I had the honor of serving as Ambassador of The Republic of Iraq to the United States of America. I would like to […]
By Aziz Al Nassiri. The idea of the RiTS Hexagon vision is to offer well-thought-through project concepts to deal with some of the most pressing problems Iraq faces today. The country’s leadership has been good with identifying the objectives, however not very good with specifying strategies to help achieve these objectives. Hence our projects are […]
By John Lee. South Korea's Daewoong Pharmaceutical has signed a US$25-million contract with Ibn Cina Drug Stores to supply six products to Jordan and Iraq. According to the Korea Herald, the local partner will distribute: Ursa, for liver function improvement; Orlostar, for high blood pressure and hyperlipidemia; Easyef for diabetic foot ulcer; Daewoong pitavastatin calcium […]
Kurdistan Region Prime Minister Nechirvan Barzani has received a high-ranking delegation from the Islamic Republic of Iran. The two sides discussed the recent security development in the region, particularly on the border between the Kurdistan Region and the Islamic Republic of Iran. Prime Minister Barzani expressed his deep concern regarding recent events especially the shelling […]
Kurdistan Region Prime Minister Nechirvan Barzani has received the outgoing US Consul General to Erbil, Mr. Matthias Mitman and the newly appointed US Consul General to the Kurdistan Region, Mr. Kenneth Gross and their accompanied delegation. Mr. Mitman, who will soon end his tenure as Consul General in Erbil, expressed his gratitude for the cooperation […]
By John Lee. Iraqi Deputy Trade Minister Walid Habib al-Helou has reportedly announced that Tehran and Baghdad will sign a new memorandum of understanding (MoU) in the near future. The Deputy Minister called for increased trade between Iran and Iraq, adding that the MoU will remove obstacles to trade. (Source: IRNA)
The Financial Times reports that Iran finds Iraq to be a big market for its domestically produced goods, including fresh milk, antibiotics and cement. Yahya Ale Eshaq, head of the Iran-Iraq Chamber of Commerce, told the newspaper: “Iraq needs everything, which makes it the best market for Iranian-made goods ... “We can work with European […]
