Croatian PM to visit Baghdad with business delegation
Both sides discussed strengthening bilateral ties, with a focus on economic cooperation, energy, oil, security and defense issues of mutual interest.
Hussein welcomed the upcoming visit of a Croatian government and business delegation, led by Prime Minister Andrej Plenković, to Baghdad, describing it as an opportunity to broaden investment and trade collaboration.
Iraq aims to translate its relationship with Croatia into practical cooperation across key sectors, particularly energy and investment, the Iraqi FM affirmed.
He also received a formal invitation from his Croatian counterpart to attend the Energy and Security Conference scheduled for July in Zagreb.
For his part, Radman noted the planned October 2025 visit by Croatia's prime minister to Iraq, describing it as a step toward deepening the strategic partnership across multiple sectors.
Earlier today, the Kurdish President Nechirvan Barzani arrived in Turkiye to attend the forum.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Iraqi News
34 minutes ago
- Iraqi News
Analysis by economic expert reveals Iraq is a key multi-dimensional partner for Turkey
Baghdad ( – An economic analysis by expert Manar Al-Obaidi highlights that Iraq is a pivotal partner for Turkey, with a multi-faceted relationship that extends well beyond trade to significantly impact vital Turkish economic sectors. This deep connection, however, also presents Iraq with considerable economic leverage that can be used in key negotiations. The commercial and financial relationship According to Al-Obaidi's analysis, Iraq's role as a major importer of Turkish goods is significant. The country ranks as Turkey's fifth-largest global importer, accounting for over 4% of all Turkish exports. In 2024 alone, this amounted to over $11 billion. Over the last five years, Iraq imported more than $52 billion worth of Turkish goods. The analysis also reveals a severe trade imbalance, with Turkey enjoying a surplus of over $54 billion with Iraq in the last five years. While Iraq's imports dominate in certain sectors, its own exports to Turkey are minimal, totaling less than $3 billion over the same period, consisting mostly of raw materials for re-processing. Tourism and investment The report underscores the critical role of Iraqi tourism and investment in the Turkish economy. In 2024, approximately 2 million Iraqi tourists visited Turkey, spending over $2 billion. Over a decade (2015–2024), more than 14 million Iraqi tourists spent over $13 billion, making Iraq the sixth-largest source of tourists for Turkey globally. In the real estate market, Iraqis have been a driving force among foreign investors in Turkey, purchasing over 45,000 residential and commercial properties valued at more than $2 billion within the last five years. Strategic leverage Al-Obaidi also points out that Turkish investments in Iraq over the last decade have reached over $35 billion, with Turkish companies securing a majority of contracts for housing complexes and other major infrastructure projects. He notes that this comprehensive economic interdependence, including an estimated $1 billion in annual remittances from Iraqis to Turkey, gives Iraq significant economic leverage. This strategic advantage, the analysis concludes, could be effectively utilized by Iraq to strengthen its negotiating position on contentious issues, particularly concerning water rights and the massive trade imbalance with Turkey.
Iraqi News
35 minutes ago
- Iraqi News
Iraq's Central Bank faces last chance to reform banking sector
Baghdad ( – Iraq's Central Bank (CBI) is facing a critical deadline with less than two weeks for private banks to implement the reform roadmap proposed by the American company 'Oliver Wyman.' Failure to do so could lead to the direct intervention of the US Federal Reserve and the US Treasury, a scenario Baghdad is eager to avoid to protect its sovereignty and reputation. For years, the US Federal Reserve and Treasury have maintained a strict policy with the CBI, which led to approximately 50% of Iraqi banks being excluded from dealing in US Dollars due to sanctions and restrictions. During this period, the Federal Reserve imposed numerous requirements to enhance compliance, including the expansion of direct transfers and electronic payments, and the consolidation of banks through mergers and liquidation, along with changes in ownership and capitalization structures. This situation put the CBI in a difficult position, caught between the demands of the US Federal Reserve and powerful domestic interests that own and operate dozens of banks, which profit from the flow of US Dollars. As a compromise, the CBI commissioned 'Oliver Wyman,' a US-based firm with ties to the Federal Reserve and the Treasury, to evaluate the Iraqi banking system and present a reform plan. The resulting plan, presented by the consulting firm, mirrors the very requirements that the Federal Reserve and Treasury had demanded in the previous year. This suggests the CBI received the federal requirements indirectly, a tactic that appears to be a way to cover for direct US intervention in reforming the Iraqi banking system. The plan is now ready for implementation, but according to economic expert Ziyad Al-Hashimi, there are 'benefiting parties' working behind the scenes to obstruct the reforms. Al-Hashimi warns that if the CBI fails to enforce the plan, the Federal Reserve and Treasury will return to direct intervention and pressure, or impose even more stringent measures and sanctions. The CBI is working diligently to avoid this direct intervention to protect its reputation and assert its independence, a task that requires a firm stance against internal pressures.
Iraqi News
4 hours ago
- Iraqi News
Central Bank of Iraq launches new guide to simplify SME loan access
Baghdad ( – The Central Bank of Iraq (CBI) announced today, Sunday (August 17, 2025), the launch of a new guide designed to provide easier access to financing for small, medium, and micro-sized projects. The initiative, which aims to streamline lending procedures for entrepreneurs, was developed in cooperation with the German Agency for International Cooperation (GIZ) and the Iraqi Private Banks Association. Speaking at the guide's launch ceremony, Ammar Khalaf, Deputy Governor of the Central Bank of Iraq, noted that the country has seen a proliferation of entities offering loans. In response, he said, the CBI's national lending strategy includes this new guide as a tool to create a 'mature and informative destination for all loans.' The guide is intended to simplify procedures and offer a new opportunity for entrepreneurs to secure financing more quickly and easily. The Deputy Governor added that the banking reform strategy adopted by the Central Bank will support these new measures. This initiative is part of a broader vision to enhance trust in the Iraqi banking system, addressing previous criticisms about the lack of clear standards and accessibility in the lending process.
