Investment Protection Agreement Between Iraq & Czech Republic Reviewed

The National Investment Commission of Iraq has announced the start of the third round of discussions on the draft Agreement for the Encouragement and Protection of Investments between Iraq and the Czech Republic.

The meetings, held in Prague on 22-23 July, follow the recent visit by Prime Minister Mohammed Shia' Al-Sudani to the Czech Republic and are part of Iraq's efforts to strengthen economic ties and promote mutual investment. The discussions aim to foster a sustainable economic partnership, facilitate technology transfer, create jobs, and support economic development.

The Iraqi delegation was led by NIC Chairman Dr. Haider Muhammad Makiyya, accompanied by the Iraqi negotiation team. The Czech side was led by Martina Matušová, alongside the Czech negotiation team. Iraq's chargé d'affaires in Prague, Mr. Hussein Al-Safi, and his deputy Mr. Samer Jamal also attended.

In his remarks, Dr. Makiya highlighted legislative and procedural reforms that have transformed Iraq's investment environment in recent years, citing a significant rise in both local and foreign investment activity. He officially opened the round of talks, describing the agreement as a milestone in deepening bilateral economic cooperation.

Over two days, the parties engaged in in-depth discussions and advanced the drafting of key provisions. Further rounds of negotiation are planned, with the final version of the agreement to be submitted for formal approval under Iraqi law.

On the second day, Czech Deputy Finance Minister Tomáš welcomed the progress and expressed optimism for future talks. He praised Iraq's recent reforms and confirmed that the Czech Ministry of Finance, through its representative at the OECD, would support efforts to improve Iraq's international investment rating. Iraq's total investment volume has reportedly reached $99 billion.

Tomáš also acknowledged Iraq's recent investment agreements with Qatar, Saudi Arabia, and the UAE as encouraging signs of a stable and investor-friendly environment.