Iraq continues to push for stronger economic growth, and new cooperation with Germany highlights this progress. The Ministry of Trade met with the German Agency for International Cooperation (GIZ) in Baghdad to design a complete plan. This plan focuses on launching a full Iraq Business Accelerator programme that supports small and medium-sized enterprises. These companies show high potential, so the programme targets fast-growing ventures that can add real value to Iraq’s economy.
During the talks, both sides reviewed a detailed framework for this new project. First, they discussed ways to identify promising Iraqi businesses. Then, they explored methods to build technical support systems. They also studied training models that help entrepreneurs gain key skills. Through these steps, the Iraq Business Accelerator will give business owners both guidance and practical tools for success.
The Ministry’s Private Sector Development Department explained its goals clearly. It wants stronger support systems for young companies. It also wants to boost innovation in the private sector. Furthermore, it aims to increase competition and create more opportunities for entrepreneurs. These goals match Iraq’s long-term plan to diversify its economy and reduce dependence on traditional sectors.
GIZ supported these ideas and welcomed deeper cooperation. The organization sees many opportunities in Iraq’s business landscape. Therefore, it wants to strengthen coordination between Germany and Iraq. This cooperation will combine German experience with Iraq’s needs. Because of this teamwork, Iraq may soon see faster and more stable growth among new companies.
The ministry also stressed the importance of practical implementation. Evaluation teams will study each business idea. They will check financial plans, market potential, and long-term growth. After this process, the programme will offer technical guidance, specialized training, and operational support. It will also help companies build partnerships with regional and international markets.
These efforts reflect Iraq’s broader national goals. The country wants stronger industries, more jobs, and a modern business environment. Many young entrepreneurs across Iraq seek training and support. The Iraq Business Acceleratorwill help them reduce risks, grow faster, and reach new markets.
Both Germany and Iraq agreed on the need for deeper cooperation. They also stressed that teamwork will support Iraq’s economic transformation. With continued focus, Iraq can strengthen the private sector and build a more sustainable and dynamic economy for future generations.