Armenia-Iraq Hold 4th Economic Commission Meeting in Yerevan

The fourth meeting of the Armenia-Iraq intergovernmental commission on economic cooperation took place in Yerevan on Tuesday.

Officials stated that the economic ties between the countries have intensified in the recent years, and trade turnover has doubled with results of the first half of the year, amounting to 171 million USD, The Caspian Post reports citing Armenian media.

The countries intend to expand cooperation to utilize the untapped potential.

“In the recent years our bilateral economic ties have intensified,” said Armenian Minister of Economy Gevorg Papoyan. “We’ve gathered here today to strengthen these ties and boost them with new quality.”

In 2024, trade between Armenia and Iraq amounted to 246 million USD, which was a 36% growth compared to the previous year.

Papoyan said the statistics shows a steady growth dynamic.

“But at the same time the figures show that we have a rather great untapped potential. And this joint session is very important to find new approaches and outline the steps that will allow us to make our economic and political partnership maximally effective,” he said.

A business forum will also take place during the two-day event.

Papoyan said the Armenian side is interested in the prospect of participating in the Iraq reconstruction process. “Armenian enterprises are ready to invest their potential in construction, infrastructure development, food industry and healthcare.”

He pointed out agriculture, digitization, cybersecurity, high technologies, science and culture as other areas of interest.

Iraqi Minister of Agriculture Abbas Jabr Al-Alyawi described Armenia as a true partner regionally and internationally.

“We hope that today’s meeting will become an important factor for developing and strengthening bilateral relations,” he said, adding that Iraq expects Armenian companies to be involved in their projects.

The Iraqi side proposed to create a joint committee with Armenian businessmen to boost trade.

Armenian Ambassador to Iraq Ruben Soghoyan described Iraq as one of Armenia’s important and reliable partners in the Middle East.

Mohammad Omer Salah Aldeen, Iraq’s Charge d' Affairs in Armenia, said that his government seeks to deepen relations with Armenia and intensify political dialogue.

In his remarks he congratulated Armenia on the occasion of initialing the peace agreement with Azerbaijan. He said that the agreement will bring security and peace to the region and boost economic ties.

The parties signed four documents after the meeting-the joint meeting protocol, a memorandum of understanding (MoU) between the chambers of commerce, an MoU in construction, and a document between the business associations.