Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
After the main factions agreed a government-forming deal on Wednesday it was followed by a two-day Parliament walkout, but the new government now seems a little firmer. Shiite Nouri al-Maliki will remain prime minister and Kurd Jalal Talabani will stay on as President, while Osama al-Nujaifi, a Sunni Arab, has been selected as parliament speaker. Other […]
The Iraqi and Azerbaijani governments have signed an agreement on trade, economic, scientific, technical and cultural cooperation, according to a statement from the Ministry for Trade. The agreement was signed by Azerbaijan`s Deputy Premier, Abid Sharifov, and Iraqi Minister of Trade, Safaa Al-Din Mohammad Al-Safi, at the end of the two-day Iraqi-Azerbaijani committee’s meetings. Al-Safi […]
The managing director of Iran's Arvand Free Zone, Ali-Asghar Parhizgar, has said Iraqi banks have filed requests to set up branches in the zone, according to a report from Tehran Times. Since the establishment of foreign banks' branches in Iran's free zones was facilitated, Iraqi banks have welcomed setting up shops in Arvand Free Zone, […]
The Qatar Fuel Company (Woqod) is entering the UAE and Iraqi markets with its automotive lubricants. “We are launching our lubricants within the region and to other markets such as Africa and Asia and the CIS countries,” said Mohamed Turki al-Sobai, vice chairman and managing director of Woqod, after appointing distributors to the UAE and […]
Iraq's Trade Ministry has prepared a plan to rehabilitate the Baghdad International Fair at a cost of 4 billion dinars [$3.4m], according to a media director. “The ministry has mapped our a plan to rehabilitate the Baghdad International Fair in preparation for the coming 38th season,” Mohammad Hanou told Aswat al-Iraq news agency. “The ministry […]
After eight months it seems that finally we are close to an agreement on the formation of the next Iraqi government. When the talks finally reach a conclusion, there's a long list of issues to be addressed by the incoming government, not least of which is Iraq's abysmal ranking in the World Bank's latest Doing […]
The Najaf Investment Commission has granted three investment licences worth a total of $233m [273 billion Iraqi dinars] to two Iraqi companies and a Turkish company. The head of the board, Wafi Albhash, told AKnews that the Turkish company was granted an investment license for a housing project worth $ 218 million. A licence to […]
The group of US investors held talks with local officials in Basra about establishing a tourist project on Sindbad Island [Sinbad Island], a source told Aswat al-Iraq news agency on Wednesday. A delegation from the group discussed the project with Basra's Governor, Shaltagh Abboud, and Deputy Chairman of Basra Council, Ahmad al-Sulieti. “The project includes […]
The Prime Minister of the Kurdistan Regional Government, Barham Ahmed Salih [Barham Saleh], laid the cornerstone of the second largest shopping complex in Kurdistan. The ceremony in the city of Sulaimaniyah city underlined the region's growing economic power. The complex will be built by the Kurdish investment group, Hiwa [Hewa], owned by Ahmed Majidi, who […]
Egypt's ambassador to Baghdad, Kamal Shaheen, has said that he wants to re-open a consulate in Basra province soon. He told NMC that this decision reflects a desire to deepen relations with Iraq. He added that many Egyptian investors and businessmen visited Baghdad to review investment opportunities, and their next step was often to visit […]
Iraq is poised to be a future tourism hotspot, reveals the new WTM Global Trends Report. The report, in association with Euromonitor International, shows Iraqi tourism is growing fast with increased airline and hotel capacity following the country’s successful attendance at World Travel Market 2009 – its first visit to a travel and tourism trade […]
As Iraq's politicians continue to haggle over the formation of the next government, the World Bank has issued its latest Doing Business 2011 report, and the incoming administration would do well to read it. Consider the following: Out of 183 countries monitored, Iraq ranks 166th, behind even Haiti and Zimbabwe; No business regulation reforms have […]
