Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
A U.S.-Turkish delegation met the Chairman of the Baghdad Investment Commission on Wednesday to discuss the establishment of two factories for gypsum and Pepsi, according to a statement of the BIC. “The BIC Chairman, Shaker al-Zamel [Shaker A. Shibeeb], received a delegation from a U.S.-Turkish company to set up two factories to produce gypsum and […]
Gulftainer, in collaboration with a local Iraqi company, launched a new container-dock project in Basra on Monday, with the aim of increasing capacity at the port by about 58,000 tons per year. The Emirati company will initially invest $24m [29 billion Iraqi dinars] in the project, according to the report from AKnews. Gulftainer's Director, Peter […]
The Defense Security Cooperation Agency [DSCA] notified Congress today [September 24, 2010] of a possible Foreign Military Sale to Iraq of contractor technical support of the Iraqi Defense Network and associated parts and equipment for a complete package worth approximately $98 million. The Government of Iraq has requested a possible sale of contractor technical support […]
The Defense Security Cooperation Agency [DSCA] notified Congress today [September 24, 2010] of a possible Foreign Military Sale to Iraq of contractor logistics support for Mobile Communications Centers and associated parts and equipment for a complete package worth approximately $57 million. The Government of Iraq has requested a possible sale of contractor technical support for […]
In the Iranian first half-year (starting March 21) $443 million [530 billion Iraqi dinars] worth of goods were exported to Iraq through border crossings in Iran’s Kermanshah Province. ISNA news agency cited a report by Kermanshah Customs Administration stating that the exported items included cement, fish, dairy products, vegetables, fruit, and confectionary and aluminum retainers. […]
The Pentagon issued a proposal on Monday to sell weapons worth $4.2bn to Iraq, including 18 F-16 fighter aircraft, Sidewinder air-to-air missiles, laser-guided bombs and reconnaissance equipment, according to a report from the Financial Times. The Pentagon said the proposed arms sales would make Baghdad “a more valuable partner in an important area of the […]
Iraq inaugurated the first of its fleet of new US-built patrol boats on Sunday, part of the effort to boost its naval capacity and secure key oil platforms ahead of the American pullout next year, according to an AFP report. The rapid build-up of the Iraqi navy is seen as crucial to protecting the terminals […]
Iraq's preliminary budget proposal for the next year is $86.4 billion [101 trillion Iraqi dinars], based on a world oil price $70 a barrel, Deputy Finance Minister Fadhil Nabi has told Reuters. Iraq's Finance Minister, Baqir Jabur al-Zubaidi, will present the budget to the cabinet this week. According to Iraqi law, the annual budget must […]
The investment outlook in Iraq will be probed at a key summit in Bahrain. In its ongoing commitment to provide intelligent market analysis for the region in a frank and open forum, Economist Conferences, part of The Economist Group, will host the Iraq Business and Investment Summit. It will be held at the Ritz-Carlton Bahrain, […]
Egyptian private- and public-sector officials have criticized the Foreign Ministry's seeming disregard for demands by the Trade Ministry’s Trade Representation Agency for US$1.1billion in compensation to be paid out to Egyptian companies and workers in Iraq as part of the UN's longstanding Oil-for-Food Program, according to a report in Al-Masry Al-Youm. Egyptian companies operating in […]
Momentum Logistics, the Sharjah-based third-party logistics (3PL) service provider and subsidiary of international port management company, Gulftainer, has officially opened its new office in Erbil. The new office will allow Momentum to react more efficiently to the daily needs of its clients. Erbil is the management centre of the Northern Iraq's oil industry, and Momentum […]
Francisco Sánchez, Under Secretary of Commerce for International Trade, will lead a historic trade mission to Baghdad, Iraq, in October. Sánchez will accompany representatives from 14 U.S. companies on the department’s first trade mission to Iraq since the end of the U.S. combat mission in Iraq. “The U.S.-Iraq bilateral relationship is entering a new phase […]
