The Minister of Economy and Industry, Dr. Petko Nikolov, and the Ambassador of the Republic of Iraq, Her Excellency Mrs. Lina Omar, discussed revitalizing bilateral economic cooperation. They discussed opportunities to improve trade relations between the two countries. The dialog to organize a new session of the Bulgarian-Iraqi Intergovernmental Commission for Economic Cooperation, which aims to support bilateral collaboration in various sectors, was reopened.
Minister Nikolov emphasized that Bulgaria and Iraq have the potential to improve their trade exchange and make the relationship between corporations in both countries more dynamic. He mentioned opportunities to boost the export of Bulgarian food products to the Iraqi market as well as pharmaceutical industry products.
During the meeting, there was a focus on the potential for partnerships in construction, transport and logistics, the food industry, and infrastructure projects. Her Excellency Lina Omar noted the need for more active collaboration between businesses from both countries, supported at the institutional level. She said Bulgaria could become a key entry point for Iraq’s trade with Europe.
During the discussions, it was also mentioned that in 2023, the total trade with Iraq exceeds USD 200 million, and the Chambers of Commerce of both countries signed a Cooperation Agreement last year to support Bulgarian and Iraqi business relationships.