Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
The Jordanian news agency Petra, citing Jordan’s Transport Ministry, reports that Iraq has agreed to allow Jordanian trucks to transit its territory to Turkey and Europe. Iraqi authorities said they will open a route for Jordanian trucks to Turkey within a month after putting in place customs and security procedures. (Source: Bloomberg)
Iraq has reportedly spent $14 million (16 billion IQD) a 7,000 ton commercial freighter called the Baghdad. Samir al-Karkhi, the director of the Marine Shipping Company, told AKnews the vessel will enter service in February and will address many of the obstacles faced by shipping in Iraq. "The Ministry of Transport is making great efforts […]
In his joint press conference with Iraqi Prime Minister Nouri al-Maliki on December 12, 2011, President Barak Obama noted that “In the coming years, it’s estimated that Iraq’s economy will grow even faster than China’s or India’s.” Foreign and regional investors interested in Iraq’s economic potential, but uncertain about the country’s investment regulations, arbitration laws […]
Basra Investment Commission (BIC) has agreed in principle to build an iron and steel factory worth of $150 million (175 billion IQD). AKnews reports that it is a joint proposal by Erbil Steel Company and a Turkish company. Khalaf Badran, head of the BIC, told AKnews that the Commission has expressed its "full support" for […]
The Netherlands’ Deputy Head of Mission to Iraq, Mr Lars Tummers, today announced that the Dutch government has decided to station a diplomat in the Kurdistan Region. In his meeting with the Kurdistan Regional Government’s Head of Foreign Relations Minister Falah Mustafa, Deputy Tummers said that the Dutch Foreign Ministry has decided to upgrade its […]
Iraq's National Investment Commission (NIC) has announced an investment opportunity to establish new Foodstuff Testing Laboratories at the border crossing points. The labs will control all foodstuffs entering Iraq, and should be constructed according to special specifications that ensure the safe storage of all kinds of foodstuffs. They will be constructed according to investment law […]
Trade between Iraq and the Netherlands in 2011 topped $630 million, according to a report from AKnews. Salam Qurayshi, economic advisor to the Iraqi Council of Ministers, told AKnews the business was mainly in the field of residential housing and oil projects. He added there are only nine Dutch companies in Iraq and 21 company […]
In an effort to enhance cooperation and trade relations with the Kurdistan Region, the Swedish Minister of Health and Social Affairs, Mr Göran Hägglund, visited the region with a business delegation this week. During his visit, Sweden announced that it will upgrade its diplomatic presence from an honorary consulate to an Embassy Office. The visit […]
The EIC is organising an oil and gas trade mission to Basra in Iraq. Missioners will have the opportunity to attend organised group meetings with key local players, as well as incorporating a briefing meeting presented by qualified speakers with in-market experience and the opportunity to meet with local companies. Why Iraq? As Iraq works […]
Vinson & Elkins and Cleary Gottlieb Steen & Hamilton are advising Iraq’s oil ministry in a $17.2 billion deal with Royal Dutch Shell and Mitsubishi to develop the infrastructure required to process natural gas in the southern part of Iraq. The transaction agreements, which were signed on 27th November, came as Iraq attempts to rebuild its […]
Iraq will host 20 international exhibtions and trade fairs in 2012, according to AKnews. Sadiq Sultan, the general manager of the Exhibtions Company in the Iraqi Trade Ministry, said: "The exhibitions attract international companies to enter the Iraqi market, especially in the fields of construction, agriculture, industry and investment." Sultan spoke on the occasion of […]
A retired major in the U.S. Army was sentenced today to 24 months in prison for engaging in money laundering of criminally derived property totaling $400,000, which he received from a contractor following his deployment to Kuwait, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division. Charles Joseph Bowie Jr., 45, of Georgetown, […]
