Iraq-India trade reaches $12.5 Billion in the first half of 2023, 28 AUGUST

Iraq-India trade reaches $12.5 Billion in the first half of 2023

Shafaq News / The trade volume between Iraq and India has reached $12.5 billion during the first six months of the current year, 2023.

According to an analysis by the Global Trade Research Initiative (GTRI), India's foreign trade (goods and services exports and imports) amounted to $800.9 billion US dollars from January to June 2023, representing a decrease of 2.5 percent compared to the same period last year (January - June 2022).

India's exports exceed a billion US dollars with 41 countries, accounting for 87 percent of the nation's exports. While India's exports grew positively in 12 of these countries, they declined in 29 others.

During the period of January to June 2023, India's top trading partners included China ($38.1 billion USD), Russia ($29.6 billion USD), Saudi Arabia ($12.9 billion USD), Iraq ($12.5 billion USD), and Switzerland ($7.5 billion USD).

https://www.shafaq.com/en/Economy/Iraq-India-trade-reaches-12-5-Billion-in-the-first-half-of-2023

Japan to enter the Iraqi market with Key Investments

Shafaq News/ Futoshi Matsumoto, the Japanese Ambassador to Iraq, on Monday announced that a cadre of leading Japanese corporations is gearing up to make inroads into the Iraqi labor market.

Sharing insights with Shafaq News agency, Ambassador Matsumoto said that meticulous consultations are underway between major Japanese stakeholders and representatives of the Iraqi government, including ministers, under the auspices of Tokyo's embassy in Baghdad.

These dialogues, he emphasized, are centered around forging innovative investment avenues and positioning Japanese business powerhouses as stalwarts in the Iraqi economic landscape, with a specific focus on spearheading an array of developmental projects aimed at bolstering Iraq's infrastructure.

With Japan's legacy of pioneering cutting-edge solutions, Matsumoto said that many Japanese companies are poised to take part in many sectors, including oil, energy, and pioneering water treatment facilities. 

"Our present endeavors are strategically aligned with charting new investment territories," he explained, "this is a testament to the proactive engagements we've been nurturing with many ministers and high-ranking officials in the Iraqi government."

https://www.shafaq.com/en/Economy/Japan-to-enter-the-Iraqi-market-with-Key-Investments