At the Azerbaijan-Iraq Business Forum held in Baku, entrepreneurs discussed the coordination of activities, and expansion of cooperation potential in the private sector, trade, tourism and other spheres, and an agreement was signed on the establishment of the Azerbaijan-Iraq Business Council.
The Azerbaijan-Iraq Business Forum was held in Baku with the joint organisational support of the Iraqi Ministries of Economy and Trade, the Export and Investment Promotion Agency - AZPROMO and the Federation of Iraqi Chambers of Commerce. In addition to officials from both countries, the event was attended by around 100 businessmen from the agriculture, food, logistics, construction, consultancy, shipping, and other sectors.
Speaking at the forum, Minister of Economy Mikail Jabbarov stressed that Azerbaijani-Iraqi relations, which have a rich history, are developing as a result of the far-sighted policies of the heads of state. It was noted that the signing of memoranda of understanding between the two countries in the political, social, tourism, and transport spheres had further strengthened the partnership. In the first seven months of this year, trade turnover between Azerbaijan and Iraq grew by 49%. At present, about 170 Iraqi companies operate in various sectors in Azerbaijan. Azerbaijani companies have participated as contractors in major infrastructure projects in Iraq, and the demand for construction, energy, water supply, road and bridge building in this country opens new opportunities for the companies' activities in Iraq. The Minister of Economy presented information on the transport and transit base of our country and the conditions created in the industrial zones, as well as the incentives for entrepreneurs in the liberated areas.
The Iraqi Minister of Trade Ater Daud Al Ghureiri emphasized the historical ties between the two countries and his country's interest in developing relations with Azerbaijan and expressed his opinion on the areas of development of economic partnership. Noting that his country has carried out large-scale economic reforms and created a favourable investment environment, the Minister invited businessmen to active cooperation.
Head of AZPROMO Yusif Abdullayev stressed the importance of relations between the business communities of Azerbaijan and Iraq and informed about the measures taken to promote the "Made in Azerbaijan" brand.
President of the Federation of Iraqi Chambers of Commerce Abdulrezag Al-Zuheiri spoke about the activities of the organisation he represented, the investment climate in Iraq, and prospects for expanding cooperation between the two countries in various economic fields.
Orhan Mammadov, Chairman of the Board of Directors of the Small and Medium Business Development Agency (KOBİA), highlighted the measures taken for the development of small and medium-sized enterprises in our country, the activities of the Agency in this field, and the opportunities for cooperation with relevant institutions and economic entities in Iraq in the field of SMBs.
Mohammad Al-Dawoodi, Chairman of the Iraqi-Azerbaijani Business Council, stressed the importance of meetings between business communities in expanding bilateral economic relations. He noted the importance of reaching certain agreements in the fields of transport, logistics, and other areas to expand economic relations between the two countries.
At the forum, the businessmen discussed coordination of activities, and utilisation of cooperation potential in the private sector, trade, energy, and tourism.
Within the framework of the Azerbaijan-Iraq Business Forum, an agreement was signed between KOBIA and the Federation of Iraqi Chambers of Commerce on the establishment of the Azerbaijan-Iraq Business Council. It was noted that the Business Council will be an important step in strengthening economic ties and increasing trade opportunities, and will serve as a platform for cooperation and exchange of experience among entrepreneurs.
Bilateral meetings of entrepreneurs were held during the Business Forum.
