Improving business, economic bases with Kurdistan Region
Kurdistan Region always established the diplomatic, business and bilateral interests with other countries to give opportunities for building bridges and strengthening the existing relations.
ERBIL, Kurdistan Region (Kurdistan 24) – On Monday, a meeting was arranged between the Head of the Erbil Chamber of Commerce and Industry, Gaylan Haji Saeed and a delegation from the Russian-Iraqi Business Council in Erbil.
In a press conference, on the same day after the meeting, Mr. Saeed explained all parties want to improve the trade relations between the two states, so following that regard there will be a trade coordination and cooperation between Kurdistan Region and Russia.
“We discussed with the Russian-Iraqi Business Council how we can improve the trade between us, we reached an appropriate solution to the problems and troubles between businessmen from both sides, therefore we can facilitate for the both in the future” Saeed stated
In the statement before the press, it was emphasized that depending on the statistics by the Russian-Iraqi Business Council, the Russian trade export to Iraq is about $200 million, annually.
However, Saeed had another view of, believing it exceeds the estimate has been given by the Russian-Iraqi Business Council, as it is expected that much more goods are sent to Iraq through other countries.
Kurdistan Region always established the diplomatic, business and bilateral interests with other countries to give opportunities for building bridges and strengthening the existing relations.
In November 2007, the Consulate General of Russia was opened in Erbil, the capital city of Kurdistan Region.
After a visit by the Head of the Russian Chamber of Commerce and Industry E.M. Primakov in May 2008, an agreement was set, cooperation and the establishment of the Russian-Kurdistan Business Council was the outcome.
As well as an agreement between the Government of the Russian Federation and Iraq took place regarding a settlement of the Iraq’s debt to the Russia which previously granted as loans on February 13th, 2008.
The Russian-Iraqi Business Council was established on December 5th, 2012, its tasks since have been:
- Observing and clarifying any problems in business relations between the two states,
- Providing possible solutions and recommendations depending on the nature and related matters to the issue
- Identifying any opportunities for widening the Russian-Iraqi business relations,
- Arranging discussion sessions, platforms to provide mutual experience and opinions between members of the Russian and Iraqi business communities,
- Discussing proposals regarding improving the business base between both parties,
- Developing and improving the trade and scientific cooperation or coordination,
- Facilitating the Russian and Iraqi business circles
- Disputing the legislative and executive authorities,
- Participation in Russian-Iraqi treaties and joint programs related to the trade and scientific cooperation,
- Participation in information resources and analytical data on relevant areas of cooperation.
Depending on report published by the Russian-Iraqi Business Council in Erbil, the volume of bilateral trade in 2011, which was relevant to Russian exports increased by 45.2% and amounted to $56.1 million.
Furthermore, in the report, more details were given about supplying machinery, equipment and transport vehicles which were 44.6%, grain (40%), timber (6%), ferrous metals and products made from them (5.9%) by Russia.
