New Delhi : Federation of Indian Chambers of Commerce and Industry (FICCI) Wednesday signed a memorandum of understandings (MoUs) with three Iraqi business chambers as part of its efforts to facilitate smooth flow of business between India and Iraq.
The three Iraqi business bodies that signed the MoUs with FICCI are International Union of Businessmen, Iraqi Trade Chamber Management Council and Iraqi Businessmen Union.
Companies from both the countries would seek greater encouragement and facilitation of contracts and other commercial ties thereby accelerating bilateral trade and investment, FICCI said in a statement.
Chambers of both the countries would also provide support to companies participating in trade fairs and exhibition organised in Iraq and India.
According to Haifa A. Hamid Al Kharadagi, director general (investment), ministry of industry of Iraq, Indian investors would also enjoy certain benefits and invited them to participate in management contracts in areas such as oil, industry, electricity and trade.
Foreign investors would have the right to exchange shares and bonds listed in the Iraqi Stock Exchange and form investment portfolios in shares and bonds.