Basra Hosts IBBC Conference to Promote Trade and Investment

Basra hosted the Iraq-Britain Business Council (IBBC) Conference over the past two days, bringing together senior Iraqi officials, UK representatives and international companies to discuss investment, infrastructure and economic cooperation. Held under the theme “Gateway to Iraq,” the conference focused on positioning Basra as a central hub for trade, logistics and energy.

Prime Minister Mohammed S. Al-Sudani told delegates the slogan reflected the government’s wider plan to translate economic dialogue into practical programmes and projects. He said Iraq was pursuing parallel tracks to modernise infrastructure, reform the energy sector and support private sector-led development. Streamlining administrative procedures, advancing digital transformation, and strengthening financial systems were central to attracting new investment, he added.

Al-Sudani highlighted Iraq’s strategic location linking the Gulf to Asia and Europe, and said major projects such as the Faw Grand Port, the Development Road, and a new maritime navigation channel would form the backbone of long-term economic growth. He noted that Iraq had previously lost up to USD 9 billion a year due to fuel imports, butsaid a clear roadmap for oil and gas investment had now been established.

The Prime Minister also emphasised the importance of technical and investment partnerships with international companies, including British firms and IBBC members, and said Iraq was developing financing instruments to support small and medium-sized productive projects. 

Conference sessions included high level discussions on trade, finance, climate initiatives, and private sector engagement. Officials said the IBBC platform continued to provide opportunities to advance joint projects, deepen economic ties, and create a framework for sustainable investment between Iraq and the United Kingdom.

Source: Iraqi PMO