Latest news with #Hanoun
Iraqi News
3 days ago
- Business
- Iraqi News
2nd Iraqi Franchise Exhibition kicks off in Baghdad
Baghdad ( – The second edition of the Iraqi Franchise Exhibition launched at the Baghdad International Fairgrounds on Wednesday (May 28, 2025), attracting significant participation from 11 Arab and foreign countries alongside numerous local and international companies. The event, running until May 30th, is a key platform for the franchising sector in Iraq. Mohammed Hanoun, Deputy Director General of Iraq's General Company for Exhibitions and Commercial Services, described the expo as a 'vital platform for idea exchange and networking between manufacturers, investors, and businessmen.' He emphasized it as a real opportunity to boost partnerships and investment in franchising, a key driver for sustainable economic growth. Supported by the Ministry of Trade, the exhibition aims to introduce leading international and local brands – including popular restaurant chains like 'Mandi wa Tannour' and firms from diverse sectors such as food, apparel, education, and services. Hanoun noted the event helps establish the franchise concept in the Iraqi market, providing a conducive environment for global companies to enter locally and for Iraqi investors to secure exclusive international brand rights. The exhibition is open daily from 10 AM to 6 PM.
Iraqi News
12-05-2025
- Business
- Iraqi News
Iraq's oil exports to Turkey surpass $1.5 billion in 2024
Baghdad ( – Data recently published revealed that the value of Iraq's oil exports to Turkey surpassed $1.5 billion in 2024. With a total value of $1.64 billion, Iraq's oil exports to Turkey during 2024 reached 4.62 million tons, Shafaq News reported. This quantity represents two percent of Iraq's total oil exports to foreign countries. According to the statistics, Iraq's oil shipments to Turkey grew by 82 percent over the past four years. The spokesperson for the Iraqi Ministry of Trade, Mohamed Hanoun, revealed last month that there is an Iraqi-Turkish desire to increase the volume of trade exchange, which has surpassed $14 billion, according to statistics released by the Turkish Ministry of Trade. Given Turkey's position in the world economy, the volume of trade exchange between the two countries is steadily growing, according to Hanoun. The Turkish Minister of Foreign Affairs, Hakan Fidan, confirmed in January that the volume of trade exchange between Iraq and Turkey reached $20 billion. In a joint press conference with Iraqi Foreign Minister Fuad Hussein, Fidan said that Turkey sees its relationship with Iraq as crucial, indicating that Turkey will experience more security and stability the more Iraq does. The Turkish Minister of Trade, Omer Bolat, said in early December that his country seeks to increase trade exchange with Iraq to $30 billion. Bolat added that Turkish companies and investors have completed projects in Iraq worth $35 billion.
Iraqi News
22-04-2025
- Business
- Iraqi News
Iraq plans to increase trade exchange with Turkey
Baghdad ( – The spokesperson for the Iraqi Ministry of Trade, Mohamed Hanoun, revealed on Monday that there is an Iraqi-Turkish desire to increase the volume of economic and trade exchange, which has surpassed $14 billion, according to statistics released by the Turkish Ministry of Trade. In a statement to the Iraqi News Agency (INA), Hanoun indicated that the volume of trade exchange is steadily growing given Turkey's position in the world economy. To create a comprehensive strategy that incorporates new processes that support the growth of ties between the two countries, the Iraqi Ministry of Trade has coordinated with all government sectors and agencies. The Turkish Minister of Foreign Affairs, Hakan Fidan, confirmed in January that the volume of trade exchange between Iraq and Turkey reached $20 billion. In a joint press conference with Iraqi Foreign Minister Fuad Hussein, Fidan said that Turkey sees its relationship with Iraq as crucial, indicating that Turkey will experience more security and stability the more Iraq does. The Turkish Minister of Trade, Omer Bolat, said in early December that his country seeks to increase trade exchange with Iraq to $30 billion. Bolat added that Turkish companies and investors have completed projects in Iraq worth $35 billion. Turkey's trade minister also revealed that he reached an agreement with Iraqi officials to increase trade exchange between the two countries.
Iraqi News
21-04-2025
- Business
- Iraqi News
Ministry of Commerce Reveals Comprehensive Plan to Increase Economic Cooperation with Turkey
The Ministry of Commerce confirmed on Monday the existence of an Iraqi-Turkish desire to increase the volume of trade and economic exchange between the two countries, noting the existence of a integrated plan to develop this cooperation. The official spokesperson for the Ministry of Commerce, Mohammed Hanoun, told the Iraqi News Agency (INA): that "There is an Iraqi-Turkish desire to increase the volume of trade and economic exchange, which has exceeded $14 billion, according to statistics from the Turkish Ministry of Commerce and the International Trade Center." He explained that "the volume of exchange is witnessing steady growth thanks to Turkey's global economic standing." He added that "the Ministry of Commerce, as the head of the Iraqi-Turkish Joint Committee, has worked in coordination with all government sectors and ministries to prepare a comprehensive file that includes mechanisms and the implementation of new procedures that contribute to the development and advancement of relations between the two countries." Hanoun pointed out that "there is a comprehensive plan aimed at strengthening relations to serve Iraq's interests first and foremost. It has been prepared with broad participation from various Iraqi sectors." He expressed hope that the upcoming Iraqi-Turkish meeting in Ankara next May, and next meeting is expected in Baghdad, will constitute a new roadmap that will contribute to the development of bilateral relations and establish a solid foundation for advancing economic and trade cooperation in various fields.
Shafaq News
15-02-2025
- Business
- Shafaq News
Iraq Trade Ministry: Food baskets coming for Ramadan
Shafaq News/ Iraq's Ministry of Trade is taking steps to limit rising food costs ahead of the holy month of Ramadan starting February 20, launching a new distribution of food baskets ensuring that citizens, especially low-income families, have access to essential goods at subsidized prices. "The food basket program has been crucial in achieving food security for vulnerable families," said Ministry Spokesman Mohammed Hanoun in a statement released on Saturday. "By providing essential commodities at affordable prices, we aim to ease the burden on families during this important time." In addition to the food basket program, the ministry is also taking steps to stabilize prices in local markets, including the opening of hypermarkets offering a 20% discount to families enrolled in social welfare programs. Hanoun urged citizens to avoid panic-buying and hoarding goods before Ramadan, assuring that hypermarkets will be well-stocked with all necessary items at subsidized prices. "There is no need to worry," he said. "We are committed to ensuring that everyone has access to affordable food during Ramadan."
