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Business

German Industry Eyes Iraq Contracts After Handover

German business and industry are hoping for more contracts in Iraq after the handover of power to an Iraqi interim government. Speaking at the German-Arab economic summit in Berlin on Thursday, head of the international department of the Association of German chambers of Trade and Commerce (DIHK), Michael Pfeiffer said that starting June 30, Iraqi ministries had the possibility to award projects and contracts themselves. The DIHK has set up a pool of companies to aid German firms with their businesses in Iraq. From June 16th onwards the companies can set about getting information and securing business contacts from their base in Jordan. The DIHK is also planning to set up a German-Iraqi Trade and Commerce department. Pfeiffer underlined that the Arab states were an increasingly important trade partner for Germany.