Enhanced Business Partnership Between UAE and Iraq

UAE, 02 April, 2024 : Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, reiterated the UAE's commitment to enhancing its strategic partnership with Iraq during a visit to the International Development Bank’s headquarters in Dubai. He met with the bank’s chairman, Dr. Ziad Khalaf, to explore avenues for economic cooperation and the bank’s role in fostering business and investment relations between the two countries.

Both parties expressed keenness to deepen economic ties, offering opportunities for entrepreneurs and the private sector in both markets. Discussions also focused on collaborative efforts to boost trade and investments in key sectors.

Al Zeyoudi praised the achievements of the bank's Dubai branch within a year and a half of its establishment, noting its success in managing a significant portion of trade transactions between the UAE and Iraq, exceeding $27 billion annually.

The presence of the International Development Bank in the UAE solidifies economic ties between the two countries, as it becomes the first Iraqi banking institution to open a branch in the UAE.

Source : www.khaleejtimes.com