Iraq approves Baghdad free zone

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Baghdad has had a new free zone approved after Iraq’s General Authority for Free Zones signed an agreement with the City Centre for Vehicles Services Co.

The capital’s latest free zone is 6,563 square meters and is part of a government initiative to promote the local economy and reduce unemployment, as well as diversifying state revenues.

The move to establish a new free zone comes at a difficult time for Baghdad, following a series of deadly explosions which have take the lives of several people.

At least 42 people died at an explosion at a mosque last wednesday, while three blasts, including a suicide attack, killed at least 17 people last Tuesday.

Despite the volatile environment, Iraq has remained active in several markets, including the oil industry in which deals have recently been signed with the UAE and Kuwait.

Iraqi energy officials signed an oil exploration agreement with Kuwait Energy and Dragon Oil of the UAE to explore a 900 square kilometer block in the south of the country.

Further, Qatar Airways recently launched a third route to Iraq in a bid to help the country get back on its feet, flying to central city Najaf.

Qatar Airways CEO Akbar Al Baker said: “With all the reconstruction efforts well underway in Iraq, there is a need for flights to bring in construction workers.

“As an air service provider, we at Qatar Airways have the faith and are doing our bit in the rebuilding efforts of the country.”

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Abdul hafeez Sheikh

This free zone may be one of the most promising trade and business center of the region in near future .

All comments are subject to approval before appearing

Features & Analysis
Is Gulf developers' love of London set to cost them a lot more?

Is Gulf developers' love of London set to cost them a lot more?

Controversial changes to property planning legislation in the...

Battling the pirates of the Gulf's TV airwaves

Battling the pirates of the Gulf's TV airwaves

A coalition of broadcasters and satellite providers is campaigning...

Dubai's smart palm tree technology revealed

Dubai's smart palm tree technology revealed

Smart Palms harness the sun's energy to allow people to look...

Most Discussed