Dubai: The Federation of UAE Chambers of Commerce, in cooperation with the Federation of Iraqi Chambers of Commerce, organized the Second UAE-Iraq Business Forum at the Sheraton Al Khor Hotel in Dubai, on the sidelines of the visit of the Iraqi trade delegation.
According to National Iraqi News Agency, the forum witnessed the participation of more than 170 major institutions and companies from both countries. More than 250 bilateral business meetings were held between representatives of various sectors, most notably real estate, contracting, tourism, hospitality, renewable energy, logistics, healthcare, and artificial intelligence, in addition to bilateral meetings between the chambers of commerce.
Abdullah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers and Chairman of the Sharjah Chamber of Commerce and Industry, emphasized the keenness of chambers of commerce and private sector representatives to support and enhance trade and investment cooperation between the UAE and Iraq. He highlighted the importance of the "Together for Partnerships" initiative, launched in cooperation between the Federation of UAE Chambers and the Dubai Branch of the International Development Bank. The initiative aims to serve as a link and bridge for investors and business owners between the two brotherly countries.
During the opening session, Dr. Muzaffar Mustafa Al Jabouri, Iraqi Ambassador to the UAE, praised the deep brotherly and cooperative relations between Iraq and the UAE, emphasizing the importance of strengthening the economic partnership and expanding cooperation in various fields to achieve sustainable development and economic prosperity for both countries.
Abdul Razzaq Al Zaheri, Chairman of the Federation of Iraqi Chambers of Commerce, explained that all the elements for growth and prosperity of economic relations between the UAE and Iraq are available, that the political will is supportive, and that investment opportunities are promising. He emphasized the need to make the forum an annual event and to work on a joint plan to promote investment opportunities and facilitate access to them.
Coinciding with the Iraqi delegation's visit to the country, the UAE-Iraq Business Council held its first meeting. The UAE side was chaired by Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce, while the Iraqi side was chaired by Ahmed Walid Ahmed, Chairman of the Islamic Bank of Iraq for Investment and Development. More than 45 businessmen and women from both countries attended.
Humaid Mohammed bin Salem emphasized that the UAE private sector possesses extensive experience and advanced investment opportunities that can contribute to strengthening the partnership between the two countries. He highlighted the role that the Council and the private sector can play in the next phase in exploring further opportunities offered by sectors such as energy, contracting, real estate, artificial intelligence, innovation, food security, maritime transport, railways, tourism, hospitality, and others.
For his part, the head of the Iraqi side of the Council affirmed his interest and desire to expand cooperation and joint investment with the UAE business sector, expressing his hope that the outcomes of this meeting would crystallize ideas, visions, and joint projects.