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Launch of the International Chamber of Commerce in Iraq
Economic 2024/11/04
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The activities of the International Chamber of Commerce were launched in Baghdad on the sidelines of the International Arbitration Forum, with the aim of bringing the Iraqi economy closer to the world and achieving beneficial integration that changes the shape of the national economy and makes it occupy its true place among the world’s economies.
Chairman of the Parliamentary Investment Committee, Hassan Al-Khafaji, stressed that “the launch of the International Chamber of Commerce in Iraq contributes to discussing challenges at the local and international levels and works to stimulate international investments in the country in a way that enhances sustainable development trends.” He added that “this step works to integrate Iraq with the world and its various markets with all their specializations,” and pointed out that “his committee supports all initiatives that advance the national economy and bring it closer to global economies.”
Global Economy
The representative of the President of the Federation of Chambers of Commerce, President of the Najaf Chamber, Haider Al-Athari, stated that “the opening of the chamber came to activate integration between the public and private sectors, as the Ministries of Trade and Foreign Affairs played an important role in this achievement, in addition to the role of the Federation of Chambers of Commerce and the private sector, which made a great effort in order for Iraq to take its real role in the global economic arena and be an important part of it.”
Business environment
The Director General of the Private Sector Development Department at the Ministry of Commerce, Malik Al-Durai’i, said: “The opening of the chamber represents an important step to enhance the business and investment environment in Iraq and came with the government’s support for the private sector, which will work to create global economic partnerships.” He pointed out that “this step reflects the extent of Iraq’s commitment to openness to the global economy,” and pointed out that “the presence of international commercial arbitration in the country constitutes an important incentive for investments to enter the local labor market.”
Government vision
Deputy Chairman of the National Investment Commission, Salar Mohammed Amin, stressed that this step is “important for the Iraqi economy and brings Iraq closer to global economies, especially after the national economy witnessed openness to the international economic system, which is part of the Iraqi government’s vision.”
He pointed out that "international expectations indicate that the Iraqi economy will be the fastest growing in the coming years and will achieve a doubling of economic growth, and these are signs that encourage international efforts to enter the Iraqi field of work."
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