The bilateral relations between Italy and Iraq are rooted in a long-standing tradition of exchanges and cooperation across multiple sectors. This collaboration aims to enhance Italy’s strategic role in the region and promote Iraq’s economic and social development. The mutual interest in deepening trade relations and exploring new business opportunities is coupled with the necessity to establish a favorable investment environment that can benefit from Italy’s commitment, which typically combines training, technology transfer, and innovation support.
Iraq is a crucial trade partner for Italy, both as a supplier of raw energy materials and as an export market for Italian products in sectors such as metallurgy, electrical systems, and electronics. Italian civil engineering and industrial companies also provide key services in Iraq. In addition to traditional sectors, new opportunities have emerged in agriculture, pharmaceuticals, the agri-food supply chain, and the oil and gas sector.
The Economic and Commercial Office of the Italian Embassy in Baghdad is responsible for coordinating economic promotion activities in Iraq, with the aim of protecting Italian economic interests in the country of accreditation, as well as supporting the growth of trade and investment flows between the two markets.
The office provides direct support to Italian businesses by promoting their interests with Iraqi authorities, particularly in public procurement, market access, and investment protection. It maintains regular engagement with federal institutions and authorities responsible for economic and trade matters, ensuring a continuous flow of information on Iraq’s economic trends, policy decisions, and market conditions. Additionally, the office works closely with financial institutions to monitor banking sector reforms and developments in bilateral financial relations.
Some of the Embassy’s activities in the economic field are also carried out in coordination with development cooperation projects, where, with the aim of complementarity, it carries out activities aimed at promoting economic development initiatives, supporting the private sector, supporting the country’s productive fabric, and promoting exchanges between institutions, academia, industry and individuals.
The economic promotion strategy is implemented in collaboration with other Italian entities operating in Iraq, such as the ICE Agency (Italian Trade Agency), which has been active in Iraq since December 2023. ICE provides information and assistance services to facilitate the development and consolidation of business relations in the Iraqi market.