Economy Minister of Azerbaijan, Mikayil Jabbarov, announced a 49 percent increase in trade turnover between Azerbaijan and Iraq from January to July 2024 during the Azerbaijan-Iraq Business Forum.

According to Mikayil Jabbarov, the trade between the two countries shows promising patterns.

"This figure, nevertheless, is lower than we anticipated,” he said, adding that the trade potential between the countries is massive.

The Azerbaijani Minister then noted; “Currently, about 170 Iraqi companies are operating in Azerbaijan across various sectors. There is also a great deal of potential for Azerbaijani companies to expand their presence in Iraq.”

“Azerbaijani firms have already contributed as contractors to large infrastructure projects in Iraq. The ongoing demand in the country for construction, energy, water supply, and the development of roads and bridges opens up an array of opportunities for Azerbaijani companies," the Minister concluded.