Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
Despite recent news reports to the contrary, U.S. arms sales to Iraq under the U.S. government’s “Foreign Military Sales” program are completely transparent and accountable, and the sale of army tanks is no exception. The U.S. Embassy emphatically denies a Tuesday report in Al-Dustour newspaper that quoted a “Parliamentary Source” as saying that tanks purchased […]
The Dutch Ambassador to Iraq, Jeroen Roodenburg [Gurion Rodnberk] announced on Wednesday that authorities in the Netherlands would encourage Dutch companies to invest in Kurdistan Region. “Dutch companies have good experience in the fields of sports, buildings stadiums, water systems, and industry” said the ambassador. “We will try to get Dutch companies come here and do […]
In Iraq, as elsewhere, trade fairs, exhibitions and conferences are a very important way of communicating with potential customers and suppliers. Meeting your future trading partners face-to-face is always a valuable experience, and these organised events offer a very efficient means of achieving this in terms of time and cost. To help you plan your […]
BAE Systems in partnership with the Anniston Army Depot (ANAD) are refurbishing 440 M113A2 armored personnel carriers for Iraq through a foreign military sales contract worth more than $31 million. “The M113 refurbishment will give the Iraqi Army a capability which is relevant to a variety of threat environments,” said Joe McCarthy, vice president and […]
Baghdad's Provincial Council has started construction on the first industrial city in the Iraqi capital on Saturday, according to a report from AKnews. The council announced its plan last October to build the $250m (291bn IQD) city in Nahrawan district, to the south of Baghdad. The area is being built by the Iraqi company Majd […]
A Basra iron and steel company will be given $700m (816 trillion Iraqi dinars) over the next 15 years by Turkish backers, reports AKnews. After visiting the factories of the General Company for Iron and Steel [State Company for Iron and Steel (SCIS)], a delegation from Turkish company United Brothers made a proposal to increase […]
Premier Nouri al-Maliki called on South Korea to provide Iraq with military training planes, as well cooperation in other armaments, according to Aswat al-Iraq. During his meeting with South Korean State Minister for Military Industries, Nu D Lee, Maliki called for activation of all contracts signed with the Korean side, in addition to supporting projects […]
On his first visit to Kurdistan, the Greek Ambassador to Iraq, Dr Mercourios B. Karafotias, said that he was surprised to see the level of progress that is being made in the Kurdistan Region. In his meeting with President Masoud Barzani on Tuesday, the Ambassador assured the President that the Hellenic Republic wants to play […]
The following is a transcript of a briefing by Thomas Nides (pictured), Deputy Secretary for Management and Resources at the US State Department, on Wednesday 8th February, regarding the reduction of personnel at the Iraqi embassy in Baghdad: MS. NULAND: Thank you, Operator, and thanks to all of you for joining us. We are pleased today […]
Japanese electronics group Sony has opened its first outlet in Iraq in the city of Erbil, amid ambitious plans to expand further into the competitive Iraqi market. The showroom will have the brand's latest electronics on sale and will also provide a costumer care and maintenance service, according to the director of Sony in Erbil. […]
The Iranian currency, the toman, or rial, has lost half its value against the Iraqi dinar in recent weeks following U.S. and European sanctions, according to a report from Azzaman. Iraqi traders welcomed the slump saying it has made the import of Iranian goods much cheaper than before. In the holy cities of Najaf and […]
The US State Department is planning to cut its diplomatic presence in Iraq by as much as half, the New York Times reports. Michael W. McClellan, spokesman for the embassy, said : “Over the last year and continuing this year the Department of State and the Embassy in Baghdad have been considering ways to appropriately […]
