The UAE and Iraq have discussed the possibility of setting up a bilateral business council, said local reports on Monday, August 16.
Abu Dhabi Chamber of Commerce and Industry Chairman Abdullah Mohammed Al Mazrouei and Iraq’s Ambassador to the UAE Mudaffar Mustafa Al Jubouri discussed the setting up of this council during the latter’s recent visit to the chamber, said the local reports.
Both sides discussed a proposal to form this Emirati-Iraqi business council in cooperation with the Federation of UAE Chambers of Commerce and Industry, which is also known as the UAE Chambers.
The ambassador reportedly gave a brief summary on the foreign investment law in Iraq.
He is also said to have called on Emirati businessmen, entrepreneurs, and investors to invest in different economic sectors in the country.
For his part, Al Mazrouei highlighted the readiness of the Abu Dhabi Chamber to promote joint economic cooperation with Iraq.
Abu Dhabi Chamber Director-General Mohamed Helal Al Mheiri also attended the meeting, said the reports.
The two countries already conduct trade that was worth around $15 billion in 2019, according to the Observatory of Economic Complexity.
While the UAE’s chief export to Iraq is refined petroleum, Iraq’s biggest exports to the UAE is broadcasting equipment.
