Baghdad, Iraq- Iraq’s steady economic recovery, driven by stability, strong oil revenues, and large-scale reconstruction efforts, has sparked renewed interest from British businesses. The country has made significant progress in recent years, with improved security and visible development efforts aimed at rebuilding after decades of conflict.
Prime Minister Mohammed Shia’ Al-Sudani’s visit to London from January 14-16 underscored Iraq’s commitment to economic expansion and international partnerships. During the visit, agreements worth £12.3 billion were signed between Iraq and UK businesses, covering key sectors such as water, energy, power, sewage, telecoms, railways, defense infrastructure, demining, civil defense, and border technologies.
Education also featured prominently in the discussions, with an agreement that will see 2,000 Iraqi students travel to the UK under an official scholarship program. Additionally, UK Export Finance reaffirmed its strong support for British exporters looking to enter the Iraqi market.
A major business reception was held to honor the Prime Minister’s visit, bringing together UK firms already operating in Iraq and those seeking new opportunities. Building on this momentum, a business conference will take place in Baghdad on February 17 under the patronage of Al-Sudani, with strong participation expected.
Further encouraging business ties, the UK government recently relaxed its travel advisory for Iraq, a move welcomed by economic stakeholders who believe it will further facilitate trade and investment.
UK exports to Iraq currently stand at around £1 billion annually, marking a growth of over 20%. With the recent agreements and increasing interest from UK businesses, this figure is expected to rise. Both governments remain committed to strengthening commercial ties and fostering private sector growth, ensuring a modern and thriving Iraqi economy.
