International Trade Centre: Iraq Is Qualified To Become A Regional Hub For Trade And Investment
The Executive Director of the International Trade Centre, Pamela Cooke Hamilton, affirmed the Iraqi government’s commitment to accelerating the procedures for joining the World Trade Organization, expressing her hope that the membership requirements would be completed by 2028. She also revealed a proposal to prepare a national strategy for trade and investment, noting that Iraq possesses the potential to become a regional center for trade and investment.
Hamilton said that the center continues to support Iraq in completing the requirements for joining the organization, through reviewing local legislation and regulations and building the capacities of government institutions and the private sector, noting that Iraq submitted its goods offer last September, and is currently working on completing its services offer.
She added that the government has shown a clear commitment to accelerating the accession procedures, noting that membership in the organization will enhance the confidence of international investors in the Iraqi economy, provide a more stable and transparent business environment, as well as promote Iraq’s integration into the global trading system.
She revealed that a proposal had been submitted to the government to prepare a national strategy for trade and investment based on the National Development Plan for the years 2024–2028, with the aim of identifying promising economic sectors and setting a roadmap for their development, attracting investments and expanding job opportunities.
In the area of economic diversification, Hamilton warned of the risks of over-reliance on oil revenues, noting that a single incident related to the Strait of Hormuz could cause economic losses estimated at around $60 billion, and stressed the importance of developing the construction, tourism, information technology, agricultural and food industries.
She pointed out that small, medium and micro enterprises represent about 90% of the economy, according to the percentage she cited, stressing the center’s work on developing the capabilities of Iraqi projects and facilitating their access to markets and financing.
In the agricultural sector, the success of the “Safi” project, which was launched in 2020, was announced, in supporting more than four thousand Iraqi farmers, achieving a 70% increase in production and exports, as well as developing local products, including potatoes, tomatoes and poultry, and helping producers access modern sales chains, including Carrefour stores.
She pointed out that the absence of accredited local laboratories to conduct the required tests in international markets represents one of the most prominent challenges facing agricultural and food exports, as producers are forced to send samples abroad, which raises costs and weakens competitiveness.
In the context of trade partnerships, Hamilton revealed that the Iraqi National Trade Fair achieved sales exceeding $83 million and attracted the attention of major international companies, including Siemens, Alcatel, Nokia and General Electric.
She also stressed the importance of developing the green building and energy efficiency sectors, tourism and hospitality, digital transformation and artificial intelligence applications, noting that the center continues to implement programs to qualify Iraqi youth for the labor market, and develop their technical and professional skills in line with the needs of the economic sectors.
She concluded by affirming that Iraq possesses economic and human potential that qualifies it to become a regional center for trade and investment, expressing the center’s support for the government’s efforts to diversify the economy, enhance the role of the private sector, empower youth and women, and expand partnerships with international investors.
The Government Denies Iraq’s Intention To Borrow 16 Trillion Dinars To Cover The Budget Deficit
The Iraqi government on Friday denied reports that Iraq intends to borrow 16 trillion dinars from five countries to cover its budget deficit, stressing that its policy is based on investing revenues and using them to support public spending.
Government spokesman Haider al-Aboudi told the official news agency, as reported by Al-Sa’a Network, that “the news circulating about Iraq’s intention to borrow 16 trillion dinars from Saudi Arabia, Kuwait, China, Germany and France to cover the budget deficit is incorrect,” stressing that “there is no need for such borrowing in light of the oil export indicators.”
Al-Aboudi explained that “the government adopts an economic policy based on the precise allocation of the country’s revenues and directing them to support public spending and meet the state’s financial requirements,” noting that “increasing the ceiling of oil exports has contributed to strengthening available revenues and ensuring the continued implementation of financial and spending policies.” https://alssaa.com/post/show/66738-الحكومة-تنفي-اعتزام-العراق-اقتراض-16-تريليون-دينار-
Al-Mandlawi Stresses Need To Activate Contracts With Chevron, Exxonmobil To Boost Oil Production
Baghdad – INA – 11/03/2026 Deputy Prime Minister for Energy Affairs Mohsen Al-Mandlawi stressed on Monday the need to finalize and activate contracts and memoranda of understanding with Chevron and ExxonMobil to increase oil production.
The Deputy Prime Minister’s Media Office said in a statement received by the Iraqi News Agency (INA) that Al-Mandlawi chaired an expanded meeting at his office on Monday evening, attended by the ministers of oil and electricity, senior officials from the Ministry of Oil, the Director General of the State Organization for Marketing of Oil (SOMO), and a number of undersecretaries and director generals.
The meeting discussed plans and measures aimed at strengthening the capabilities of the oil sector, increasing Iraqi oil production and exports, and addressing the challenges posed by the Strait of Hormuz crisis to oil export operations.
The statement added that Al-Mandlawi stressed the need to finalize and activate contracts and memoranda of understanding with the two American companies, Chevron and ExxonMobil, in a manner that would contribute to increasing crude oil production capacity and boosting daily export volumes. The meeting also discussed identifying new export outlets and routes to ensure the delivery of Iraqi oil to global markets.
It further noted that the meeting discussed electricity sector requirements and the technical needs for developing distribution networks, as well as existing agreements to secure gas supplies and future plans to develop the electricity sector in preparation for the coming summer season, in line with the priorities of the government programme and efforts to improve the level of services provided to citizens.
According to the statement, the meeting underscored the importance of activating plans to rehabilitate and develop oil pipelines and oilfield infrastructure projects. Al-Mandlawi also stressed the need to provide the requirements of oil companies operating in Iraqi fields and address obstacles hindering their operations, in order to support higher production rates and achieve tangible increases in production capacity within short timeframes, commensurate with the demands of current challenges.
Call For Maliki To Stand Trial Came On ‘Instructions’, Sudani Ally Says
2026-11-02 | 11:53 BAGHDAD – 964 Media — A post by a member of former Prime Minister Mohammed Shia al-Sudani’s coalition calling for Nouri al-Maliki to stand trial was made on instructions, a senior figure in the coalition said Sunday.
Mohammed al-Khalidi, of Sudani’s Reconstruction and Development Coalition, told Al-Rasheed TV that the instructions changed after Ammar al-Hakim, leader of the Hikma Movement, mediated between the coalition and Maliki’s State of Law Coalition. He did not say who had given the instructions.
“Khalid Walid’s tweet was not his personal opinion. It came on instructions, but after Hakim’s intervention, the instructions changed,” Khalidi said.
Khalid Walid al-Marsoumi, a member of Sudani’s coalition, called on X late Saturday for Maliki to be tried over the fall of governorates to the Islamic State group in 2014. “Put Maliki on trial, and do not forget the blood of your sons in the days of the fall of the governorates and the bitter strife,” he wrote.
He also asked what had become of the state’s final accounts for 2012 to 2016, the audited year-end statements of government spending.
Hisham al-Rikabi, who heads Maliki’s media office, rejected the call in a reply on X. “Enough hypocrisy and point-scoring over the blood of Iraqis,” he wrote. Those who spoke of the fall of the governorates should stop exploiting Iraqis’ tragedies in their political rivalries, he added.
Khalidi said Khalid Walid’s post had been a response to accusations by State of Law lawmakers. “There has been a dispute recently between State of Law and Reconstruction and Development, but Ammar al-Hakim intervened to calm the situation. His intervention ended the disagreement,” he said.
On the other side, Ahmed al-Mubarqa, head of State of Law’s parliamentary bloc, said in an interview with presenter Sahar Abbas that the dispute between Sudani and Maliki had been driven by competition in the election and the formation of the government. The media should not carry it past the government’s formation, he said.
“Our response was clear: we were not pleased with Yousif al-Kilabi’s approach,” Mubarqa said, referring to the State of Law lawmaker whose remarks about Sudani had set off the latest clash.
Parliament on Tuesday referred Kilabi to the Parliamentary Conduct Committee on a complaint from Bahaa al-Araji, head of the Reconstruction and Development parliamentary bloc. The complaint accused Kilabi of insults and of making false statements about Sudani. Mubarqa said he had asked Speaker Haibat al-Halbousi during the session to allow a friendly settlement instead.
Kilabi had called for Sudani to be held accountable for Iraq’s debt, saying Sudani’s government left the country 208 trillion dinars (about $160 billion at the time) in debt. Prime Minister Ali al-Zaidi, who succeeded Sudani in May, told lawmakers on Oct. 8 that his government had inherited public debt of more than 208 trillion dinars.
Turning to Kilabi’s talk of a complaint to the judiciary against Sudani, Khalidi said: “We want all governments to be reviewed and audited.” The review should run from the 2005 government to the present, with every corruption file opened, he said.
He also called for checks on the academic qualifications of lawmakers from previous parliamentary terms and of officials at director-general level and above since 2003, from primary school certificates to bachelor’s degrees. The checks would show how much money could be recovered, he said.
State of Law, Sudani’s coalition and Hakim’s Hikma all belong to the Coordination Framework, the dominant Shiite alliance in parliament. Maliki served as prime minister from 2006 to 2014. In June 2014, Isis captured Mosul, Iraq’s second-largest city, and went on to seize large areas of northern and western Iraq.
A parliamentary committee in August 2015 named Maliki among 36 officials it held responsible for the fall of Mosul and recommended that they stand trial. The Framework nominated Maliki for a return as prime minister in January 2026 but settled instead on Zaidi. https://en.964media.com/54570/