Baghdad: The Ambassador of Italy to Iraq, Nicolo Fontana, announced that the launch of the Iraq-Italy Business Council marks ‘a bridge to enhance communication and deepen economic cooperation between the two countries.’ Speaking at the official inauguration ceremony held in Baghdad, Fontana stated that ‘Iraqi-Italian relations are at a very good level, particularly in the economic field, with significant room for further development.’
According to National Iraqi News Agency, the new council will serve as a practical platform for building partnerships and solving economic challenges through permanent offices in Baghdad and Erbil, as well as broad representation from different provinces and sectors. The Italian Embassy in Baghdad and the Consulate General in Erbil have worked closely with both Iraqi and Italian public and private sector entities to remove barriers and build mutual trust. Last year’s signing of an ‘export credit insurance framework agreement’ between SACE and the Iraqi side opened new opportunities to boost ‘Made in Italy’ exports and support Iraq’s local industrial development.
Italian Trade Agency, along with other Italian government bodies, is ready to expand its role in Iraq and help Italian and international companies access promising business opportunities. Fabrizio Lobasso, Deputy Director General for the Promotion of Italy and Economic Internationalization at the Italian Ministry of Foreign Affairs and International Cooperation, emphasized that the new council will be an effective coordination hub across multiple sectors, paving the way for new partnerships, investments, and economic initiatives to strengthen bilateral relations.
‘Iraq knows well the value of ‘Made in Italy’, its quality, professionalism, innovation, and reliability,’ Lobasso said. He underscored the importance of cooperation in infrastructure, logistics, energy, and water management. Italian companies are contributing to Iraq’s green digital transition and efforts to reduce gas flaring, as well as collaborating on water management projects and strategic sites like Mosul Dam. Italian expertise is also engaged in healthcare, medical services, pharmaceuticals, training, and infrastructure, particularly in the construction of dams and bridges.
Lobasso stressed the importance of building close partnerships and implementing initiatives before signing memorandums of understanding to consolidate all achievements in a single agreement. He expressed Italy’s interest in seeing more Iraqi products in Italian and European markets and in supporting the use of Italian equipment maintained by Iraqi technicians. Fontana concluded by expressing Italy’s readiness to promote a business culture built on quality, design, and innovation alongside Iraq.