Qatar and Iraq have embarked on a significant economic collaboration aimed at enhancing trade and investment through the formation of a joint business council. This initiative is expected to pave the way for increased cooperation and development opportunities between the two nations.
The Qatar Chamber recently hosted an Iraqi business delegation led by Amer Khalaf Alawi, President of the Federation of Iraqi Chambers of Commerce. This meeting served as a platform for business leaders from both countries to explore potential avenues for expanding bilateral trade and investment. One of the focal points of their discussions was Iraq’s Development Road project, which offers around 60 investment opportunities with an estimated value of $250 billion. These opportunities span various sectors, including transport and logistics, manufacturing, energy and utilities, mining, oil and gas, agriculture, information technology, real estate, and tourism.
As part of their commitment to fostering economic ties, Qatar Chamber and the Federation of Iraqi Chambers of Commerce signed a Memorandum of Understanding to officially establish the Qatar-Iraq Joint Business Council. This council is tasked with promoting communication between companies and entrepreneurs in both countries, supporting joint investment projects, and strengthening cooperation among small and medium-sized enterprises.
Both parties emphasized the potential for increased private-sector partnerships and trade, encouraging businesses to explore the diverse investment opportunities available across a range of industries. This initiative reflects a shared vision for economic growth and development, leveraging the strengths of both countries to create mutually beneficial partnerships.