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Economic cooperation

 

Economic cooperation

The economic and trade relations between Italy and Iraq are excellent.

The Embassy of Italy in Baghdad plays a very dynamic economic policy to support the Italian companies in Iraq; the mutual interest in strengthening the bilateral relations merges continuously during the meetings with the leaders of the new Iraqi government.

Since July 2011, a diplomatic officer is stationed in Erbil, capital of Iraqi Kurdistan, to liaise with the authorities of Kurdistan and to support Italian companies. The institution in February 2012 of an Italian Business Desk at the Detached Office of the Italian Embassy, managed by Promos/Chamber of Commerce of Milan and sponsored by Unioncamere, represented an important step in strengthening our entrepreneurial presence in the region, which is particularly interesting for Italian companies thanks to a wider infrastructural quality in comparison with the rest of the country: links, security, investment legislation and, last but not least, with a growth rate that the IMF estimates higher than 10%. 

A Treaty of Friendship, Cooperation and Partnership, signed in 2007 and executive since July 2009 is in force between Italy and Iraq. The Treaty provides for the granting of a soft loan to Iraq of 400 million euros and the creation of a Mixed Commission.

Detailed information on the Country are now available in real time in the Iraq section of "InfoMercatiEsteri", the highly innovative and totally free platform which was launched in March 2013 by the General Directorate for the Promotion of the Country System  of the Italian Ministry of Foreign Affairs in order to meet the demand for information on foreign markets coming from italian economic operators.

In the portal a section is entirely devoted to Iraq, organized by the Italian Embassy in Baghdad with the aim of becoming the reference point for Italian businessmen and traders interested in this extraordinary market.




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