Armenian companies seek to expand cooperation with Iraqi Kurdistan

YEREVAN, May 23. /ARKA/. Armenian companies are interested in expanding cooperation with Iraqi Kurdistan, Armenian Economy Minister Vahan Kerobyan said last Friday when speaking at an Armenia-Iraqi Kurdistan Business Forum in Yerevan.

According to Kerobyan, expansion and deepening of trade and economic relations with the Middle East countries is a priority of the Armenian government.

According to official data, at the end of 2021, there were 88 registered companies in Armenia with Iraqi capital. In that same year Armenia's trade turnover with Iraq was worth $182 million.

According to the minister, in the first quarter of 2022 the bilateral trade was worth $51.64 million, twice as much as in the first quarter of 2021.

Kerobyan expressed hope that the business forum will contribute to establishing new direct contacts between representatives of the business community of the both countries, to discussing long-term mutually beneficial projects.

In his turn, President of Export-Import Union of Iraqi Kurdistan Region Mustafa Abdulrahman Abdullah expressed hope that active cooperation will be established during the event.

The Armenia-Iraq Kurdistan Business Forum organized by the Armenian Ministry of Economy and the Union of Entrepreneurs and Industrialists of Armenia was attended by about 200 business people from both sides.

A Memorandum of Understanding was signed between the Union of Entrepreneurs and Industrialists of Armenia and the Export-Import Union of Iraqi Kurdistan and B2B meetings were held. The business people from Iraqi Kurdistan Region were interested in cooperation with Armenian partners, particularly in such areas as agriculture, construction, light industry, tourism and trade. --0—