At the Azerbaijan-Iraq business forum held in Baku, discussions were held on coordinating activities between businesspeople and expanding cooperation potential in private sectors, trade, tourism, and other areas. An agreement was signed to establish the Azerbaijan-Iraq Business Council.
The Azerbaijan-Iraq business forum was held in Baku with the support of the Ministry of Economy of Azerbaijan and the Ministry of Trade of Iraq, co-organized by the Export and Investment Promotion Agency (AZPROMO) and the Federation of Iraqi Chambers of Commerce. The event was attended by over 100 businesspeople from both countries, representing sectors such as agriculture, food, logistics, construction, consulting, shipping, and others, along with officials from both sides.
In his speech at the forum, Minister of Economy Mikayil Jabbarov emphasized that the rich historical ties between Azerbaijan and Iraq have developed as a result of the visionary policies of the heads of state. He noted that the signing of agreements and memoranda of understanding covering political, social, tourism, and transportation sectors has further strengthened the partnership between the two countries. In the period from January to July of this year, a 49% increase in trade turnover between Azerbaijan and Iraq was recorded. Currently, around 170 Iraqi companies operate in various sectors in Azerbaijan. Azerbaijani companies have participated as contractors in significant infrastructure projects in Iraq, and the existing demand for construction, energy, water supply, roads, and bridge construction in the country presents new opportunities for these companies. The Minister also provided information on Azerbaijan’s transportation and transit capabilities, the conditions created in industrial zones, as well as the incentives offered to entrepreneurs in the recently liberated territories.
Iraqi Minister of Trade, Ater Dawood Al-Ghurairy, emphasized the historical ties between the two countries and expressed Iraq's interest in expanding relations with Azerbaijan. He shared his thoughts on developing economic partnerships and highlighted the broad economic reforms underway in Iraq, noting that a favorable investment environment has been created. The minister invited businesspeople to engage actively in collaboration, encouraging closer cooperation between Azerbaijani and Iraqi businesses
The head of AZPROMO, Yusif Abdullayev, emphasized the importance of connections between the business circles of Azerbaijan and Iraq and provided information on the initiatives being implemented to promote the "Made in Azerbaijan" brand.
The president of the Iraqi Federation of Chambers of Commerce, Abdulrazak Al-Zuhairi, spoke about the activities of the organization he represents, Iraq's investment environment, and the prospects for expanding cooperation in various sectors of the economy between the two countries.
The Chairman of the Board of the Small and Medium Business Development Agency (SMBDA), Orkhan Mammadov, highlighted the measures being implemented for the development of small and medium-sized enterprises in our country, the activities of the Agency in this field, as well as the opportunities for cooperation with relevant institutions and entrepreneurial entities in Iraq within the SME sector.
The Chairman of the Iraq-Azerbaijan Business Council, Mohammad Al-Davudi, emphasized the importance of meetings held between business circles in the expansion of bilateral economic relations. He noted the necessity of reaching certain agreements in transportation, logistics, and other areas to enhance economic ties between the two countries.
At the forum, discussions were held on coordinating activities among business representatives and realizing collaboration potential in the private sector, particularly in trade, energy, and tourism.
As part of the Azerbaijan-Iraq business forum, a memorandum of understanding was signed between the Small and Medium Business Development Agency (KOBİA) and the Federation of Iraqi Chambers of Commerce regarding the establishment of the Azerbaijan-Iraq Business Council. It was noted that the Business Council would serve as a platform for cooperation and exchange of experiences among entrepreneurs, representing a significant step towards strengthening economic ties and enhancing trade opportunities.
The business forum continued with bilateral meetings among entrepreneurs.
