Qatar and Iraq are set to enhance their economic collaboration through the formation of a joint business council aimed at boosting trade and investment between the two nations. This development was marked by a significant meeting hosted by Qatar Chamber, where an Iraqi business delegation led by Amer Khalaf Alawi, President of the Federation of Iraqi Chambers of Commerce, engaged with Qatari business leaders.
The discussions centered on exploring around 60 investment opportunities connected to Iraq’s ambitious Development Road project, which holds 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.
The establishment of the Qatar-Iraq Joint Business Council was formalized through a Memorandum of Understanding signed by Qatar Chamber and the Federation of Iraqi Chambers of Commerce. The council’s primary objectives include fostering communication between companies and entrepreneurs in both countries, supporting joint investment projects, and enhancing cooperation among small and medium-sized enterprises.
Both sides highlighted the potential for increased private-sector partnerships and a rise in trade activities between Qatar and Iraq. The business communities from both countries are encouraged to delve into the wide array of investment opportunities across various sectors, which could significantly boost economic ties.
This initiative signifies a strategic move to strengthen bilateral economic relations, potentially leading to enhanced cooperation and mutual growth in diverse areas of investment and trade.