Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
As we reported in recent days, Iraq has decided to offer 18 factories to foreign investors to renovate and run, on very attractive terms. According to the reports, the deals are to be sweetened by some very interventionist means, such as paying half the wages of Iraqi workers in those plants, and restricting the importation […]
The UK's Middle East Association (MEA), in partnership with UK Trade & Investment, Invest Northern Ireland and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan from 23rd to 28th October to coincide with the seventh Erbil International Trade Fair, Iraq’s largest general trade exhibition. Mission Participants will have the opportunity […]
The risks of working in or supporting the upstream oil and gas industry in Iraq are widespread and significant. From security and logistics to government bureaucracy, there are barriers to business that executives at many companies with a role to play in developing Iraq's oil and gas sector feel could be insurmountable. William Wakeham, CEO […]
Al-Iraqiya television has reported that Iraq is threatening to take the case of Kuwait's Mubarak al-Kabir Port to the United Nations if the harbour violates its maritime rights. An Iraqi Technical Delegation, led by the government’s Advisor, Thamer al-Ghadban, reportedly arrived in Kuwait on Sunday for a 2-day official visit. Bloomberg reports that Prime Minister […]
June revenue fell to less than $9m, the Directorate General of Customs reported. This is down more than two-thirds from US$27m in the same period last year. The office believes that changes to regulations that require quality-control certificates on imports, supplied by just two government contractors, has caused backlogs at border crossings, and reduced customs income. […]
Khalil Bin Abdullah Al Khonj, chairman of the Oman Chamber of Commerce and Industry (OCCI) met Habib Yousr Al Hashmi, the Chairman of the Iraqi Businessmen Union, on Tuesday, according to Oman Tribune. Al Khonji talked about exchanging visits and delegations to enhance trade and investment between the two countries, and in both the private and public […]
Mr Rolf Ulrich, the new Consul General of the Federal Republic of Germany to the Kurdistan Region, was received today by the Head of the Department of Foreign Relations, Minister Falah Mustafa Bakir. In welcoming Mr Ulrich to the Kurdistan Region, Minister Bakir assured him that the Kurdistan Regional Government (KRG) stands ready to extend […]
In an effort to rebuild its ailing industrial sector, Iraq has relaunched a tender to rehabilitate 18 of its idle factories, for the second time this year, after failing to attract enough interest from foreign investors. Reuters quotes Abdul-Ghani Fakhri, director general of the investment department at the Ministry of Industry and Minerals, as saying […]
Iraq’s state-owned General Company for Car Manufacturing, which belongs to the Ministry of Industry & Minerals, has signed a contract with the Chinese Proton Company, to assemble and market 1,000 cars annually. According to the report from Aswat al-Iraq, the Iskandariya-based company has also signed a contract with the Teachers Syndicate to supply teachers with […]
Iraq Business News is delighted to be chosen as the official Media Sponsor of Iraq Mining 2011. Billions of dollars worth of investment opportunities are expected to be announced by Iraq’s Minister of Industry and Minerals, H.E. Mr Ahmad Nassir Al-Karbooli (pictured), on 7 September at Iraq Mining 2011 in London, a conference on Iraq […]
Customs duty increases have been postponed by the Iraqi Finance Ministry due to the high cost of goods, according to Aknews. Duty was due to go up from 5% on all goods - a rate said to have been set low to encourage trade with Iraq - to as much as 30%. To put that […]
Trade between Iraq and Syria is now running at US$2bn per year, according to a spokesperson for the Iraqi Ministry of Trade. Hashem Hatam said that this does not include trade in oil and gas, according to Aknews. At the same time, events could sour increasing trade between the neighbours. As Syria cracks down on […]
