Azerbaijan, Iraq launch Business Council to enhance trade relations

The Small and Medium Business Development Agency (KOBIA) of Azerbaijan and the Federation of Iraqi Chambers of Commerce have formalized collaboration by signing an agreement to establish the Azerbaijan-Iraq Business Council to strengthen economic ties between the two nations. 

The agreement was signed on by KOBIA Chairman Orkhan Mammadov and Abdul Razzaq Al Zuhairi, President of the Federation of Iraqi Chambers of Commerce, Caliber.Az reports.

The newly formed Business Council aims to facilitate and enhance trade and investment opportunities between the two countries. This initiative marks a significant step in deepening economic cooperation and exploring new avenues for business collaboration.

In related developments, Azerbaijani businessmen are set to embark on an export and trade mission to Iraq in early 2025. The mission, coordinated by the Export and Investment Promotion Agency of Azerbaijan (AZPROMO), will focus on market research and potential business opportunities. 
Yusif Abdullayev, Executive Director of AZPROMO, confirmed the plans during an Azerbaijan-Iraq business forum on September 17.

Abdullayev also highlighted ongoing discussions about establishing a trading house in Iraq, following a recent visit by AZPROMO representatives to Erbil.

The proposal includes preparing a budget assessment for the project, which aims to support and expand Azerbaijani exports to the Iraqi market.