Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq has taken delivery of last nine American M1A1 Abrams tanks from the order of 140 that it has received over the past two years. AFP reports that the tanks are valued at $860 million, $804 million of which was paid by Iraq with the remainder of the cost borne by the […]
Outgoing Consul General Joo Joong-Chul met on Monday with the Head of the KRG's Department of Foreign Relations, Minister Falah Mustafa, as he prepares to depart for his next assignment at the Republic of Korea’s embassy in Baghdad. Minister Mustafa thanked Mr Joong-Chul for his nation’s continued support and for his personal contribution during his […]
By John Lee. AKnews reports that gold imports into Iraqi Kurdistan have hit 34 tons during the first seven months of the year. The increase in imports coincides with a surge in jewel and gold stores in the region’s three main cities. Of the total, 12,376 kilograms were imported through Erbil International Airport, with 22,384 […]
By John Lee. CNN's Jill Dougherty reports on allegations Iraq is helping Iran navigate around the sanctions placed on Tehran: (Source: CNN)
By John Lee. Iraqi forces have closed the Al-Qaim border checkpoint with Syria with a three-metre concrete wall, Xinhua reports. Syrian rebels waged fierce battles with regime troops in the town of Albu Kamal [Al-Bukamal] along the Iraqi border, capturing a string of security posts and the local police headquarters. Taking full control of the […]
By John Lee. The US Defense Security Cooperation Agency (DSCA) has notified Congress of a possible Foreign Military Sale to the Government of Iraq for commercially available Federal Aviation Administration Air Traffic Control and Landing System/Navigational Aids and associated equipment, parts, training and logistical support at an estimated cost of $60 million The Government of […]
By John Lee. Earlier this month, the US accused Elaf Islamic Bank of doing business with Iranian banks that had been blacklisted. According to a news report from NBC, Iraq's central bank has been transferring dollars to Iran, helping Iran stay afloat in spite sanctions. It now appears President Maliki may be involved. NBC’s Andrea […]
Despite increasingly strong links between Iraq and Iran, a disagreement has broken out at ministerial level about Iran's use of water from the Wand River [Wind, Alwand, Hulwan]. According to a report from NINA, Iraq's Trade Minister, Khairallah Babekir [Khayri-allah Babakir, Khairallah Hassan Babiker], has said that he will not sign trade agreement with Iran, […]
By John Lee. Indonesia's Defence Minister, Purnomo Yusgiantoro (pictured), said on Wednesday that Iraq has expressed interest in buying Indonesian defence products. The statement came as Deputy Defense Minister Sjafrie Sjamsoeddin visits Iraq, in part to consider ways of boosting cooperation in the defense sector. “This visit is strictly bilateral and has nothing to do […]
By John Lee. The Chinese Ambassador to Iraq, Mr Ni Jian, met with Prime Minister Nechirvan Barzani yesterday to explore ways of strengthening ties with the Kurdistan Region. Ambassador Jian presented his credentials to the Iraqi President last year November, and this is his first visit to Kurdistan. In his meeting with Prime Minister Barzani, […]
By John Lee. Basra Investment Commission has published a new guide for investors, covering such areas as opportunities, taxes, and how to get a visa. The quality of the English translation is rather poor, but it is still reasonably understandable. You can download the guide here.
By John Lee. The Kurdistan Region's Ministry of Trade and Industry has said that import and export trade licences are to be written in both Kurdish and Arabic from now on. Aziz Ibrahim, Director General at the Ministry said: "The region's Ministry of Trade and Industry decided to implement the instruction of Iraq's Ministry of […]
