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VIDEO: Baghdad event attracts foreign business to Iraq

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VIDEO: Baghdad event attracts foreign business to Iraq

Post  GirlBye on Sat Nov 17, 2018 2:48 pm



Dozens of companies from across the world are exhibiting their products at the Baghdad International Fair.

The event is an opportunity to expand business in the Iraqi market.


STORYLINE:
Visitors arrive for the 45th Baghdad International Fair.
It's an important gateway for companies seeking to expand their business in Iraq.

More than 300 international companies from 17 countries are showcasing their products and services to the local business community at the Iraqi capital's fairground.

This year, a large space has been reserved by Iranian businesses. Iraq has vital economic, political and religious ties with neighbouring Iran. 

More than 60 Iranian are companies displaying their products, including carpets, machines and food production.

Iraq-Iran trade exchange has averaged about 7 billion US dollars a year. However this year it could reach up to 8.5 billion, according to the Iranian ambassador to Iraq, Iraj Masjed. 

He says despite the newly re imposed US sanctions against Tehran, the two neighbours plan to expand their trade, mainly in commerce and vital commodities such electricity and gas.

"The blockade imposed by the Americans is an embarrassment to them. No one followed their example. It will not affect the relations between the two countries, the Islamic Republic of Iran and the Republic of Iraq," says Masjed. 

Japan is just one of the many countries exhibiting products here, from cars to photocopiers.

This year's trade fair comes after Iraq declared victory over the Islamic State group.
Large parts of the country's infrastructure were left destroyed and the fighting has proved a heavy burden for the economy.
The fair opened under the slogan 'We are determined to build and reconstruct as we were determined to liberate and achieve victory'. 

European companies, like tool maker Ingco and car manufacturer Renault, are also taking part.  

The Egyptian pavilion is awash with the country's vibrant crafts.

As well as foreign companies, around 400 Iraqi businesses are also represented.

The Baghdad International Fair runs until 19 November.
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