New business and investment opportunities in Iraq

The Chamber of Commerce, Industry and Services of Madrid is organizing this conference with Iraqi representatives on October 15 to analyze the opportunities offered by the country to Spanish

Iraq, with more than 40 million inhabitants and a population that is over one-half under the age of 20, represents a future market and opportunity for Spanish companies. The Iraqi economy is gradually recovering after major tension in the last four years, with GDP growth of 6.5% in 2019 and optimistic forecasts for the upcoming years. It is one of the countries with the largest oil reserves and, thanks to improved security, growth in the non-oil sector has returned to positive figures since 2017, with a rate of 4.5% predicted from 2019 to 2022.
 
Some of the opportunities that the country offers to international companies and investors are the result of the implementation of investment and development plans in different sectors such as railroads and ports, residential and urban development projects, power plants, refineries, hotels and the expansion of telecommunications infrastructure, as well as others.

Spain and Iraq have maintained bilateral relations since 1946, and the possibility now presents itself to consolidate and increase economic and commercial trade between the two countries within the framework of the 1990 Protocol, which provides for the exchange of oil for products or projects by Spanish companies, with the goal of furthering the country’s reconstruction.
 
The meeting, organized by the Chamber of Commerce, Industry and Services of Madrid, with the support of Grupo INV, and the collaboration of role-players such as the Spanish Ministry of Foreign Affairs, the European Union and Cooperation, Qatar Airways and Casa Árabe, will involve participation by the Ambassador of Iraq in Spain, Mr. Adel Mostafa Kamel, and representatives of the Iraqi economic administration, including: the Economic Advisor to the Presidency of the Iraqi Council of Ministers (Abdul-Hussein Al-Anbaki), the Director General of the Housing Department of the Ministry of Construction and Housing (Haider Al-Mayali), the Director General of the Foreign Economic Relations Department of the Ministry of Trade (Adel Khudair Abbas) and the Advisor to the Ministry of Industry and Minerals (Hussein Basem Aliwi). Participating on behalf of the Spanish administration will be Eva Martínez Sánchez, Director General for the Maghreb, the Mediterranean and the Near East at the Ministry of Foreign Affairs, the European Union and Cooperation, and Manuel Mora Pedrinaci, Deputy Director of the Sub-Directorate General of Trade Policy with Mediterranean Countries, Africa and the Middle East at the Ministry of Industry, Tourism and Trade.

It will be held on October 15 from 11:00 a.m. to 1:00 p.m. and is free of charge, after signing up by clicking on this link.

Schedule
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