Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
AFP reports that Iraq's privately-owned banks have called for the country's state-owned lenders to be privatised, to break up a near monopoly in lending by politicians whose actions remain stuck in the Saddam-era. Although foreign cash has flowed in since the US-led invasion of 2003, ministers still opt to use government banks to do business […]
Aswat al-Iraq reports that the Iraqi Industry Ministry has reached agreement with a Chinese producer to assemble 10,000 Chinese cars in Iraq. The ministry is also currently in negotiations with a French producer to assemble trucks in Iraq. IBN believes the truck-maker to be Renault. “This should be the first step toward establishing an automotive […]
Iraq has intensified efforts to resolve its debt problems with neighboring Kuwait, in order to end the international restrictions imposed on the country following the invasion of Kuwait two decades ago, said Iraq’s deputy foreign minister. Iraq was placed under United Nations’ Chapter 7 status in 1991 after Saddam Hussein invaded Kuwait. Speaking to AKnews, […]
We launch our new Jobs in Iraq page today on the IBN web site in response to reader demand. This is a free reciprocal service for Recruitment Agencies and Employers with jobs on offer in Iraq. For readers it provides a welcome source of employment options in a country crying out for skilled labour and […]
A total of 19 new projects will be built at the al-Shieb border crossing as part of Missan Investment Commission's (MIC) plan to encourage investment and tourism in the province, the director of the MIC said on Tuesday. “The projects site covers 100 donums [25 hectares], and will include hotels, restaurants, garages and banks as […]
The Iraqi Industry Ministry has started environment friendly projects in 17 of its companies and factories. “The total cost of the projects is around ID54 billion [$46m],” said a press release issued by the ministry on Saturday as received by Aswat al-Iraq news agency. It noted that the projects aim at reducing both water and […]
The Iraqi Minister of Labor and Social Affairs, Mahmoud al-Sheikh Radhi, has rejected the idea that Iraq should join the World Trade Organization (WTO). “My ministry examined this issue considering its effects on the levels of labor and unemployment,” the minister told Aswat al-Iraq news agency on Sunday. He noted that his ministry has conclusively […]
Audi Volkswagen Middle East has expanded its dealer network in the region by announcing National Automotive Trading Co, a Moin Behbahani Group company, as the official dealer for the Audi and Volkswagen brands in Iraq. Construction of the Audi and Volkswagen showrooms and service facilities, located in Erbil/Kurdistan, are currently underway and are scheduled to […]
An Iranian trade center was opened on Wednesday in the Kurdistan Region’s second largest city of Sulaimaniya, with Iran’s assistant trade minister and local officials in attendance, according to AKnews. It is the second Iranian trade center in Kurdistan and it includes wholesale and retail sections for agricultural, technology, housing, and food products. Around 45 […]
Iran's new ambassador to Iraq said that trade between the one-time rivals will double in the near future, even as his country is under stringent international sanctions over its nuclear program, according to a report from BusinessWeek. The prediction by Hassan Dannaie Fir reflects the strengthening of relations between the two Shiite-led neighbors who fought […]
A large group of international companies have showed their interest in participating in the 37th Baghdad International Fair, due to take place in Baghdad from 1st to 10th of November. "Several countries, including France, Turkey, Iran, Japan, and India agreed tp participate in the fair, as well as local and foreign private sector companies", a […]
An Iraqi economist blamed the high unemployment rate in the country on the government’s failure to develop the industries and reduce food imports, according to a report from AKnews. “The Iraqi government has failed significantly to rescue Iraq from being the main country in the region in terms of consumption of imported foods. There is […]
