An organizational meeting of the Russian-Iraqi Business Council (RIRDS) was held at the CCI of Russia, at which a new Chairman of the Council was elected. The event was moderated by the Vice-president of the CCI of Russia Vladimir Padalko.
In his opening speech, Vladimir Padalko noted that trade and economic cooperation between the two countries has great prospects. Regional business looks with interest at the development of cooperation with Iraq in various directions, and this applies not only to the fuel and energy sector. In the future, Russia can participate in large-scale projects in the field of transport, construction of industrial facilities (processing of agricultural products: flour mills, production of animal feed, oil and gas equipment, car tires) and many others.
Vladimir Padalko stressed that the Iraqi market is in dire need of supplies from abroad of grain crops, animal feed, medicines, medical devices and instruments, chemical products, energy equipment, and mineral fertilizers. Russian business is ready to consider such proposals from the Iraqi side, and the Chamber of Commerce and Industry of the Russian Federation will do its utmost to facilitate this.
The meeting participants by a majority of votes elected the new chairman of the Russian-Iraqi Business Council - President of «UK KOMAKS» LLC Konstantin Basyuk. In his speech, he presented his program for the development of the council's activities. Among the top-priority actions, Konstantin Basyuk named the development of concrete actions to expand interaction with the Russian federal authorities, including the Russian-Iraqi Intergovernmental Commission on Trade and Economic Cooperation, and the continuation of working contacts with the Iraqi Embassy in Russia and the Russian Embassy in Iraq. Among no less important tasks, the newly elected chairman pointed out the elaboration of providing practical assistance to Russian and Iraqi businesses in their work on the markets, including in consulting services and maintaining an effective information exchange between the business community about existing opportunities for mutually beneficial trade and economic cooperation.
Further, a discussion was held on the state and prospects of trade and economic cooperation between the two countries, the place and role of business councils in the development of bilateral ties with an emphasis on regional cooperation.
Researcher at the Institute of Oriental Studies of the Russian Academy of Sciences (RAS) Midiya Ozmanyan gave a brief description of the current state of the Iraqi economy. According to the RAS, Iraqi agriculture is facing serious difficulties in producing food for a growing population. For many years to come, the country will depend on imports to meet domestic food demand. The pandemic was an additional serious factor in the aggravation of the economic situation in the country amid falling oil revenues, as well as result of the country's weak investment attractiveness outside the oil industry and an undeveloped private sector.
Deputy Director of the Department for Development of Bilateral Cooperation of the Ministry of Economic Development of Russia Anton Razlivayev, stressed that the Russian economy in the future will be interested in expanding areas of cooperation with Iraq and will try to occupy all possible niches, and not only in agriculture and energy, in the country's economy.
Honorary Representative of the Chamber of Commerce and Industry of Russia in Iraq Said Badoi proposed to work out the issue of presenting the opportunities and needs of Iraqi business for Russian business circles. Vladimir Padalko supported this proposal, recommending the newly elected Chairman of the Council, Konstantin Basyuk, to take this direction under special control.
By CCI of Russia news reports
