• Sunday, 21 July 2024

Iraq and US Discuss Formation of Joint Business Council to Boost Economic Ties

Gulan Media June 14, 2024 News
Iraq and US Discuss Formation of Joint Business Council to Boost Economic Ties

Abdul Razzaq al-Zuhairi, President of the Federation of Iraqi Chambers of Commerce (FICC), and Alina Romanowski, the US Ambassador to Iraq, held pivotal discussions on Thursday aimed at forming a joint business council to enhance trade and economic relations between Iraq and the United States. This strategic dialogue, reported by the Iraqi News Agency (INA), underscores the commitment of both nations to deepen their economic collaboration.

The meeting primarily focused on expanding trade connections and fostering economic partnerships. President Zuhairi emphasized Iraq's dedication to maintaining balanced relations with countries that support its economic development approach, highlighting the importance of the proposed council in achieving these goals.

Key Discussion Points:

Expanding Trade Volume: Strategies were deliberated to increase the trade volume between Iraq and the US, aiming to capitalize on mutual economic benefits.

Enhancing Cooperation: Opportunities for collaboration with Iraqi chambers of commerce were explored to boost activities in both the public and private sectors.

Facilitating Investment: Ambassador Romanowski stressed the need to address challenges related to providing entry visas for investors and businessmen, which is crucial for fostering a conducive environment for trade and investment.

Both parties expressed satisfaction with the progress made in their ongoing collaborative efforts in the trade and economic fields. The formation of a joint business council is seen as a significant step towards achieving a more robust economic partnership, enhancing bilateral trade, and creating new opportunities for businesses in both countries.

The FICC's statement and the positive remarks from both Zuhairi and Romanowski reflect a shared vision for a prosperous economic future, driven by stronger ties and mutual support. This initiative is expected to pave the way for increased economic activity and development, benefiting both Iraqi and American enterprises.