The Iraq-Italy Business Council (IIBC) officially opened this week, marking a major step to strengthen Iraq-Italy trade and economic cooperation. Officials and business leaders attended the ribbon-cutting ceremony at the council’s new headquarters in Baghdad. This launch signals a strong commitment to expand bilateral business relations.
A high-profile event at Babylon Rotana gathered senior officials, private-sector leaders, and diplomatic representatives from both countries. Key attendees included Sattar Al Jabiri, Deputy Minister of Trade; Fabrizio Lobasso, Deputy Director General for the Promotion of Italy and Economic Internationalization; Majid Muzan, Federation of Iraqi Chambers of Commerce representative and Basra Chamber Chairman; and H.E. Niccolò Fontana, Italy’s Ambassador to Iraq.
The IIBC will serve as a platform to connect Iraqi businesses with Italian companies. It will promote Iraq-Italy trade, support investment opportunities, and enable knowledge transfer. Officials said the council will help build partnerships and encourage sustainable economic growth.
The council will focus on energy, construction, manufacturing, and finance. It will assist Iraqi businesses in accessing Italian expertise and technology. Similarly, Italian companies will gain opportunities to invest in Iraq’s emerging markets. By fostering innovation and collaboration, the IIBC aims to increase trade flows and strengthen investment ties.
Moreover, the council plans to hold workshops, trade missions, and networking events. These initiatives will help share best practices and improve business engagement. Members also emphasized the role of innovation, education, and technology transfer in advancing Iraq-Italy trade and supporting long-term economic stability.
In summary, the inauguration of the Iraq-Italy Business Council reflects a shared vision for growth and prosperity. By linking Iraqi businesses with international partners, the council will expand trade, attract investment, and strengthen Iraq’s broader economic development.