Deputy Prime Minister, Minister of Foreign Affairs, and Chairman of the Ministerial Council for the Economy, Mr. Fuad Hussein Chairs the Twelfth Session of the Council

Deputy Prime Minister and Minister of Foreign Affairs, and Chairman of the Ministerial Council for the Economy, Mr. Fuad Hussein, chaired the twelfth session of the Ministerial Council for the Economy on Monday, March 30, 2026. The session was held at the Council’s headquarters and attended by the Ministers of Finance; Industry (Acting Minister of Planning); Water Resources (Acting Minister of Agriculture); Labor and Social Affairs; the Secretary-General of the Council of Ministers; the Governor of the Central Bank; the Chairman of the Securities Commission; the Deputy Chairman of the National Investment Commission; the Deputy Minister of Oil for Distribution Affairs; and the Prime Minister’s Advisors for Economic and Legal Affairs.

The Council discussed the items listed on its agenda and adopted the necessary decisions accordingly.

The Council also reviewed a paper submitted by the Secretariat of the Ministerial Council for the Economy regarding the mechanisms and procedures for exemptions from the Instructions for Implementing Government Contracts No. (1) of 2025, and approved the recommendations contained therein.

Furthermore, the Council hosted the Director General of the State Organization for Marketing of Oil (SOMO) to review the Ministry’s plan for exporting Iraqi oil. The Director General indicated the resumption of oil exports from the Kirkuk fields via the Iraqi-Turkish pipeline to the port of Ceyhan, as well as through overland routes.

SOMO is also studying proposals submitted by several local and international maritime transport companies to transport oil through the southern border outlets, in order to benefit from rising global oil prices.

The Council directed the Ministry of Oil to intensify efforts to export oil and petroleum products. It is worth noting that Iraqi refineries are operating continuously and efficiently to supply petroleum derivatives for domestic consumption.

The Council also approved the request of the Ministry of Agriculture to reopen the import of certain agricultural crops whose domestic growing season has concluded.