June 07, 2026
Chairman IKBC meets with Iraq’s Minister of Trade
Chairman of the Iraqi–Korean Business Council Meets Iraq’s Minister of Trade to Discuss Strengthening Economic Cooperation and Expanding Trade Relations with the Republic of Korea
Mr. Ahmed Shaban, Chairman of the Iraqi–Korean Business Council, met today with Dr. Mustafa Nizar Al-Ani, Iraq’s Minister of Trade, at the Minister’s office in Baghdad, as part of ongoing efforts to strengthen economic and trade relations between the Republic of Iraq and the Republic of Korea and to expand avenues of cooperation between public and private sector institutions in both countries.
During the meeting, the two sides reviewed the current state of Iraqi–Korean trade and economic relations and discussed ways to further develop bilateral cooperation in line with the Iraqi government’s strategy of diversifying international economic partnerships and attracting foreign investment and expertise to support the country’s economic development.
At the outset of the meeting, Mr. Ahmed Shaban delivered a comprehensive presentation on the Iraqi–Korean Business Council, outlining its establishment, objectives, and the role it plays in strengthening ties between the Iraqi and Korean business communities. He also highlighted the Council’s contribution to promoting trade and investment, facilitating technology transfer, and fostering industrial cooperation between the two countries.
Mr. Shaban explained that the Council was established as an effective economic platform aimed at deepening bilateral economic relations and creating direct channels of communication between Iraqi and Korean companies and economic institutions, thereby generating new opportunities for cooperation and joint investment across a wide range of productive and service sectors.
The Chairman also reviewed the Council’s key activities and initiatives over the past period, which included organizing meetings and joint engagements with Korean economic and commercial institutions, addressing challenges faced by investors and companies seeking to operate in the Iraqi market, and supporting efforts to transfer Korean industrial expertise and advanced technologies to Iraq.
During the meeting, Mr. Shaban emphasized that the Republic of Korea is one of Iraq’s most important economic partners due to its advanced expertise in industry, technology, infrastructure, energy, education, and vocational training. He noted that strengthening cooperation with Korean companies and institutions can significantly contribute to Iraq’s economic development plans, create new employment opportunities, and enhance the capabilities of the Iraqi private sector.
For his part, Dr. Mustafa Nizar Al-Ani, Minister of Trade, commended the important role played by the Iraqi–Korean Business Council in advancing economic relations between the two countries. He stressed the importance of supporting initiatives that contribute to expanding trade and investment cooperation and attracting international companies to the Iraqi market.
The Minister also reaffirmed the Ministry’s commitment to strengthening partnerships with the private sector, creating a conducive environment for business growth and investment, and addressing challenges facing companies and investors in order to improve the business climate and increase Iraq’s trade exchange with countries around the world.
The meeting further addressed a number of issues related to the development of bilateral trade relations, encouraging the participation of Korean companies in investment and development projects in Iraq, and exploring opportunities for cooperation in industry, technology, training, and capacity-building programs.
Both sides underscored the importance of maintaining close coordination and communication between the Ministry of Trade and the Iraqi–Korean Business Council, as well as working jointly to organize economic and commercial events that would strengthen institutional cooperation and create broader partnership opportunities between the business communities of both countries.
At the conclusion of the meeting, the two parties affirmed that Iraqi–Korean relations possess significant potential for growth and expansion in various economic, industrial, and technological sectors. They expressed their shared commitment to broadening economic, trade, and investment cooperation in a manner that serves mutual interests and supports sustainable development efforts in Iraq.
The meeting also emphasized the importance of continuing dialogue and coordination between government institutions and the private sector, while promoting initiatives that facilitate technology transfer, knowledge exchange, and the development of strategic economic partnerships between Iraq and the Republic of Korea, thereby contributing to a more prosperous and progressive future for both nations.