An agreement to establish the Azerbaijan-Iraq Business Council was signed during the Azerbaijan-Iraq business forum. The agreement was formalized between Azerbaijan’s Small and Medium Business Development Agency (KOBIA) and the Federation of Iraqi Chambers of Commerce. Orkhan Mammadov, Chairman of KOBIA, and Abdulrazaq Al-Zuheere, President of the Federation of Iraqi Chambers of Commerce, signed the document.

“In order to bolster bilateral economic relations between Azerbaijan and Iraq, particularly in trade and investment, it is crucial to advance mutual contacts between the SMEs,” said Minister of Economy Mikayil Jabbarov during his speech at the forum.

Jabbarov also noted that the Azerbaijan-Iraq Business Council would be instrumental in enhancing collaboration between SMEs of both countries.

He emphasized the central role of energy cooperation in advancing economic ties, adding that Azerbaijan is keen on exploring potential opportunities in this area.