Uzbekistan and Iraq Establish Business Council Targeting $500M
Business
The expansion of domestic private capital into the high-capacity markets of the Middle East is becoming deeply systematic due to the establishment of resilient interagency platforms designed to minimize logistical barriers and stimulate direct B2B contacts. On the sidelines of the Tashkent International Investment Forum (TMIF-2026), a strategic memorandum was signed between the Chamber of Commerce and Industry of Uzbekistan and the Economic Council of Iraq, anchoring the official establishment of a joint Business Council.
Within the framework of the inaugural organizational session, CCI Chairman Davron Vakhabov and Republic Ambassador Ayubkhon Yunusov held substantive talks with the Iraqi government delegation, led by Minister of Trade Mustafa Nazar Juma and President of the Economic Council Ibrahim Madlul Awadi Masudi.
The new institutional body will focus on diversifying bilateral trade turnover and removing regulatory barriers for the private sector. The food industry, the electrical engineering sector, and the production of modern building materials have been designated as the baseline drivers of the partnership. As emphasized by the CCI leadership, Uzbekistani manufacturers possess sufficient industrial capacity to seamlessly scale up exports to Iraq to 500 million dollars in the medium term. This step furthers Tashkent's overarching strategy to diversify trade corridors in the Arab world, initiated earlier by dispatching the first direct convoy of commercial cargo to Syria.
The new institutional body will focus on diversifying bilateral trade turnover and removing regulatory barriers for the private sector. The food industry, the electrical engineering sector, and the production of modern building materials have been designated as the baseline drivers of the partnership. As emphasized by the CCI leadership, Uzbekistani manufacturers possess sufficient industrial capacity to seamlessly scale up exports to Iraq to 500 million dollars in the medium term. This step furthers Tashkent's overarching strategy to diversify trade corridors in the Arab world, initiated earlier by dispatching the first direct convoy of commercial cargo to Syria.
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