Undersecretary for Bilateral Relations Meets Representatives of Swedish Business Agency in Stockholm

28 May
ministry and missions 140

On Monday, May 26, 2025, Undersecretary of the Foreign Ministry for Bilateral Relations Mr. Mohammed Hussein Bahr Aluloom, held a meeting in Stockholm, with representatives of the Swedish Business Agency. The meeting was attended by the Swedish Chargé d’Affaires, Mr. Jörgen Lindström, a number of representatives from the Swedish Foreign Ministry, and representatives of prominent Swedish companies.

The Undersecretary began the meeting with a comprehensive review of the positive developments taking place in Iraq, particularly on the security and economic fronts and indicated that Iraq has become an attractive investment environment, with foreign investments exceeding $87 billion. He emphasized that these transformations are the result of a series of financial and banking reforms adopted by the Iraqi government, most notably the launch of the “Iraq Development Fund,” which aims to attract foreign investment and expand economic partnerships with friendly countries.

In this context, Undersecretary Bahr Aluloom addressed a set of government facilities designed to support the private sector and enhance the business environment, most notably the provision of sovereign guarantees to investors. He explained that these measures open up broad horizons for Swedish companies to invest in vital sectors witnessing rapid growth in Iraq, including the construction industry, renewable energy, and the food and pharmaceutical industries. He also highlighted the strategic importance of the “Development Road” project, calling on Swedish companies to explore opportunities to participate in it, given its economic and geopolitical dimensions, which make it a major gateway for regional connectivity and trade integration.

Furthermore, the Undersecretary called for a review of Swedish travel advisories to Iraq and the lifting of the ban on Iraqi Airways, stressing that the significant improvement in the security situation justifies taking positive steps in this direction.

Mr. Bahr Aluloom also emphasized the important role of the large Iraqi community in Sweden, pointing to its potential to serve as a vital bridge for enhancing communication and cooperation between the business communities of the two countries.

At the end of the meeting, Undersecretary Bahr Aluloom proposed opening a direct communication channel between the Swedish Business Agency and the Federation of Iraqi Chambers of Commerce, in preparation for organizing a field visit by the agency to Iraq to closely examine the available investment opportunities. As well he proposed the idea of ​​establishing an “Iraqi-Swedish Business Forum” to serve as a platform for coordinating economic cooperation and exchanging expertise between the private sectors of both countries.

On their part, representatives of the Swedish Business Agency welcomed the Undersecretary’s visit and expressed their appreciation for the Iraqi government’s efforts to achieve sustainable development. They affirmed Swedish companies’ interest in returning to the Iraqi market and their willingness to activate channels of communication and cooperation with their Iraqi counterparts across various areas.