On 22 October, the Iraq–Italy Business Council (IIBC) was inaugurated in Baghdad in the presence of senior representatives of the Iraqi Government, international financial institutions, and a broad group of Italian and Iraqi companies and investors. Delegates from the Italian Ministry of Foreign Affairs and International Cooperation, the Italian Trade Agency (ICE), SACE, SIMEST, and Confindustria Assafrica & Mediterraneo took part in the event, representing the Italian System.
Speaking at the opening ceremony, the Iraqi Deputy Minister of Trade, Mr. Sattar Al Jabri, underlined that the strengthening of exchanges between the two countries also depends on the creation of joint programmes and on support to private sector organisations. On the Italian side, Mr. Fabrizio Lobasso, Minister Plenipotentiary, Deputy Director General for the Promotion of the Italian System and Central Director for Economic Internationalisation, described the IIBC as an effective coordination platform between institutions and companies, and as a tool to accelerate the achievement of tangible results – first of all, more partnerships between Iraqi and Italian companies.
In continuity with the Memoranda of Understanding signed between the Federation of Iraqi Chambers of Commerce and Unioncamere, and between the Federation of Iraqi Industries and Confindustria, the IIBC provides a space where ideas become projects, and economic cooperation becomes the means to deliver them. To ensure this goal, the President of the IIBC, Mr. Salar Omar Saleh, proposed identifying shared priorities with Iraqi and Italian counterparts, aligning Iraqi demand with Italian know-how, and accompanying each partnership from first contact through to the practical implementation of the project, in a professional and inclusive environment for companies and investors.
The Embassy of Italy in Baghdad and the Consulate General in Erbil are working to build trust with local counterparts and remove existing barriers, by promoting concrete instruments to realise joint projects. These instruments include: the SACE export credit framework agreement, B2B matchmaking promoted by the Italian Trade Agency (ICE), the financial tools offered by SIMEST to support international growth, and the initiatives of chambers of commerce and business associations.
About the Iraq–Italy Business Council
With permanent offices in Baghdad and Erbil, and a Council made up of entrepreneurs (men and women) from different Iraqi provinces and multiple economic sectors, the Iraq–Italy Business Council acts as a neutral interface between Iraqi priorities and Italian capacities, providing support to expand bilateral trade and investment. For more information, visit the IIBC official FB page: https://www.facebook.com/share/17amB4fVdW/
