Qatar and Iraq have taken a significant step toward enhancing their economic relationship by establishing a joint business council aimed at boosting trade and investment between the two nations. This development follows a 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 to explore avenues for bilateral economic collaboration.
The meeting highlighted numerous investment opportunities tied to Iraq’s Development Road project, which boasts an estimated value of $250 billion. These opportunities span several 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 is expected to facilitate better communication between companies and entrepreneurs in both countries, fostering joint investment projects and strengthening cooperation among small and medium-sized enterprises.
A Memorandum of Understanding was signed between Qatar Chamber and the Federation of Iraqi Chambers of Commerce to formalize the establishment of the business council. This initiative underscores the commitment of both nations to deepen economic ties and promote private-sector partnerships. Business leaders from both sides expressed optimism about the potential for increased trade and investment, encouraging companies to explore the diverse opportunities available across various sectors.
The newly formed council is anticipated to serve as a catalyst for economic growth, enabling businesses from Qatar and Iraq to engage more effectively and capitalize on the promising investment possibilities that have been identified. Both countries view this collaboration as a strategic move to not only strengthen their economic bond but also to contribute to the broader economic development goals within the region.