Austria is aiming to expand investments and strengthen economic cooperation with Iraq, Austrian Foreign Ministry Secretary-General Nicolas Marschke confirmed. The move reflects Austria’s interest in Iraq as a strategic partner in the Arab region and a growing destination for foreign investment.
According to a statement from the Iraqi Foreign Ministry, Marschke met with Iraq’s Ambassador to Austria, Mohammad Hussein Mohammad Bahr al-Uloom, in Vienna. The meeting focused on enhancing bilateral relations and exploring new avenues for economic collaboration. Both sides emphasized Iraq’s importance as a key regional player and a hub for trade and investment opportunities.
During their discussions, Marschke and Ambassador al-Uloom committed to ongoing coordination and consultations. Austria is aiming to advance existing agreements and foster broader cooperation that benefits both nations. This includes initiatives in trade, investment, and infrastructure development. Officials highlighted that stronger economic ties can create jobs, promote sustainable growth, and support long-term stability in Iraq.
Austria’s interest in Iraq comes amid the country’s efforts to attract foreign investment and diversify its economy beyond oil. Iraq has been working to modernize its infrastructure, enhance trade policies, and strengthen its business environment. Austrian companies, known for their expertise in engineering, technology, and energy, could play a significant role in these efforts.
Experts note that expanding Austria-Iraq economic relations can serve as a model for cooperation between European and Arab countries. By leveraging each other’s strengths, both nations can benefit from trade growth, technology transfer, and investment in key sectors.
The Austrian Foreign Ministry confirmed that follow-up meetings and joint working groups are planned to implement the initiatives discussed in Vienna. Both countries are committed to maintaining dialogue and exploring further opportunities for collaboration.