Moscow, 27 August 2021 (TDI): Yury Borisov, Deputy Prime Minister of Russia, and Fuad Hussein, Foreign Minister of Iraq attended the ninth meeting of the Russian-Iraqi Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation. Executives from business communities of the two countries were also in attendance.
Borisov praised Russia and Iraq for their strong friendship and mutually beneficial collaboration. He emphasized that the energy sector has been the most fruitful area of collaboration between the two countries. All participants agreed that there are good opportunities to expand cooperation in transportation machine-building, power engineering, glass manufacture, pharmaceuticals, and agriculture.
Trade between Russia and Iraq fell by 52% in the epidemic year of 2020, compared to 2019. Trade reached $113 million in the first six months of 2021, rising 150 percent from the same time in 2019.