On Monday November 28th 2022 a meeting was held with the mission International Monetary Fund to Iraq at the offices of the Iraqi Business Council.

The mission was headed by the President of the mission, Mr. Tokhir Merzoev, in the presence of the non-resident mission Representative to Iraq, Dr. Ghazi Shbekat, and members of the mission; Mr. Roberto Perly, Mr. Leng Lu, Mr. Muhib Malik, Mr. Ali Abbas and Ms. Ghadeer Nofel. On IBC part, the meeting was attended by IBC Deputy Chairman & Secretary-General, Dr. Saad Naji, IBC Board member, Mr. Mekki Al-Faiz, and IBC members; Dr. Bashar Abdul Rahman, Mr. Abdul Rahman Thabit Al-Ani, Mr. Muhammad Shanshal, Mr. Ghaith Al-Rawi, IBC Advisor for International Organizations, Mr. Humam Miskoni and Mr. Hamza Al-Safi.

During the meeting, several topics were discussed on the local economic developments and expectations in Iraq, developing the private sector and the challenges the private sector faces and the business environment, noting that IMF mission to Iraq considers IBC an advisory and reference body when IMF issues its annual reviews on the economic situation in Iraq.

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The idea of establishing the Iraqi Business Council is based on the common desire generated by a number of elites. Those who are Iraqi investors and businessmen on the territory of the Hashemite Kingdom of Jordan unanimous in the importance of creating economic reference for them, as well as for those who wish to join them in order to maximize Iraq’s investment in Jordan, as well as to contribute actively to Iraq’s construction and reconstruction.

The idea of establishing the Iraqi Business Council was well-founded and blessed by the Government of the Hashemite Kingdom of Jordan. Accordingly, the approval of the competent Jordanian authorities was commended for launching the Iraqi Business Council in Jordan.

The Iraqi Businessmen Council has joined the Arab Businessmen Federation as an active member with the aim of strengthening cooperation relations between the two sides and enhancing mutual relations in a way that serves and expands the horizons of economic relations among the Arab business communities.

The Chairman of the Arab Businessmen Federation, Mr. Hamdi Al-Tabbaa, expressed his pleasure at IBC joining the Federation, stressing the significance of Iraqi investments on the Arab level, pointing out the efforts of the Federation to strengthen the Arab economic and investment relations and promote the advantages, incentives and investment opportunities that various promising sectors of the Arab world enjoys.

For his part, IBC Deputy Chairman and Secretary-General, Dr. Saad Naji, pointed out that IBC becoming a member in the Federation will contribute to joint cooperation and exchange of know-how in all economic fields, pointing out the role of IBC in developing Iraqi investments in all economic fields.

Dr. Saad Naji also elaborated that the Iraqi private sector is interested in expanding its investments in the Arab world, especially with the presence of several opportunities on the trade and investment levels, which can be exploited to develop joint Arab relations.

During the Federation general meeting, which was held on Thursday November 17^th 2022, the Iraqi Business Council was approved to join the Federation as an active member.